44-1797.11. Cancellation of contract; time; definition

A. Each contract for discount buying services shall further provide that such contract may be canceled at any time within three business days after the date of receipt by the buyer of a copy of the contract, such time to be computed exclusive of the date of receipt of the contract.

B. Cancellation occurs when the buyer gives written notice of cancellation in person or by telegram to the seller at the address specified for notice of cancellation provided by the seller or when such written notice bearing such address is deposited in the United States mail by either ordinary mail or registered mail. Notice of cancellation is effective as of the date of the postmark affixed by the United States postal service.

C. Notice of cancellation given by the buyer is effective if it indicates the intention on the part of the buyer not to be bound by the contract for discount buying services. Monies paid pursuant to the contract in excess of twenty-five dollars shall be refunded within fifteen business days of the date notice of cancellation is given.

D. Every contract for discount buying services shall be subject to the cancellation privileges provided by this article.

E. For the purposes of this section, " business days" does not include Sundays or the federal holidays of New Year's Day, Memorial Day, Independence Day, Labor Day, Columbus Day, Veterans' Day, Thanksgiving Day, Christmas Day, or Washington's Birthday.