13-42-120 - Cancellation of agreement -- Waiver.
13-42-120. Cancellation of agreement -- Waiver.
(1) An individual may cancel an agreement before midnight of the third business dayafter the individual assents to it, unless the agreement does not comply with Subsection (2) orSection 13-42-119 or Section 13-42-128, in which event the individual may cancel the agreementwithin 30 days after the individual assents to it. To exercise the right to cancel, the individualshall give notice in a record to the provider. Notice by mail is given when mailed.
(2) An agreement shall be accompanied by a form that contains in bold-face type,surrounded by bold black lines:
You may cancel this agreement, without any penalty or obligation, at any time beforemidnight of the third business day that begins the day after you agree to it by electroniccommunication or by signing it.
To cancel this agreement during this period, send an e-mail to
____________________________ or mail or deliver a signed, dated copy of this
E-mail address of provider
notice, or any other written notice to ___________________________________
Name of provider
at _______________________________ before midnight on ___________________.
Address of provider Date
If you cancel this agreement within the 3-day period, we will refund all money youalready have paid us.
You also may terminate this agreement at any later time, but we may not be required torefund fees you have paid us.
I cancel this agreement,
__________________________________
Print your name
__________________________________
Signature
__________________________________
Date
(3) If a personal financial emergency necessitates the disbursement of an individual'smoney to one or more of the individual's creditors before the expiration of three days after anagreement is signed, an individual may waive the right to cancel. To waive the right, theindividual shall send or deliver a signed, dated statement in the individual's own wordsdescribing the circumstances that necessitate a waiver. The waiver shall explicitly waive theright to cancel. A waiver by means of a standard form record is void.
Amended by Chapter 378, 2010 General Session