Section 359-D:6 Requirements for Contracts.
I. Every contract between the buyer and a credit services organization for the purchase of the services of the credit services organization shall be in writing, dated, and signed by the buyer, and shall include all of the following:
(a) A conspicuous statement in size equal to at least 10 point bold type, in immediate proximity to the space reserved for the signature of the buyer, as follows: ""You, the buyer, may cancel this contract at any time prior to midnight of the fifth day after the date of the transaction. See the attached notice of cancellation form for an explanation of this right.''
(b) The terms and conditions of payment, including the total of all payments to be made by the buyer, whether to the credit services organization or to some other person.
(c) A full and detailed description of the services to be performed by the credit services organization for the buyer, including all guarantees and all promises of full or partial refunds, the estimated date by which such services are to be performed, or estimated length of time for performing such services.
(d) The credit services organization's principal business address and the name and address of its agent, other than the secretary of state, in this state, authorized to receive service of process.
II. The contract shall be accompanied by a completed form in duplicate, captioned ""Notice of Cancellation,'' which shall be attached to the contract and easily detachable, and which shall contain in type of at least 10 point the following statement written in the same language as used in the contract:
""Notice of Cancellation''
""You may cancel this contract, without any penalty or obligation, within 5 days from the date the contract is signed.
""If you cancel, any payment made by you under this contract will be returned within 5 days following receipt by the seller of your cancellation notice.
[Note: The following TABLE/FORM is too wide to be displayed on one screen. You must print it for a meaningful review of its contents. The table has been divided into multiple pieces with each piece containing information to help you assemble a printout of the table. The information for each piece includes: (1) a three line message preceding the tabular data showing by line # and character # the position of the upper left-hand corner of the piece and the position of the piece within the entire table; and (2) a numeric scale following the tabular data displaying the character positions.]
*************************************************************************************** This is piece 1. -- It begins at character 1 of table line 1. *************************************************************************************** To cancel this contract, mail or deliver a signed and dated copy of this cancellation notice, or any other written notice, to ________________ at ___________________________________________ not later than 1...+...10....+...20....+...30....+...40....+...50....+...60....+...70....+....*************************************************************************************** This is piece 2. -- It begins at character 1 of table line 4. ***************************************************************************************(name of seller) (address of seller) midnight __________(date). (date) I hereby cancel this transaction. __________ (date) 1...+...10....+...20....+...30....+...40....+...50....+...60.. ************************************************************************************** This is piece 3. -- It begins at character 63 of table line 4. *************************************************************************************** (place of business) ____________________ (purchaser's signature) 63....70....+...80....+...90....+..
III. A copy of the fully completed contract and all other documents the credit services organization requires the buyer to sign shall be given to the buyer at the time they are signed.
Source. 1988, 24:2, eff. Jan. 1, 1989.