Section 359-D:6 - Requirements for ContractsI. 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.
"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
(name of seller)
(address of seller)
(place of business)
midnight
__________.
(date)
"I hereby cancel this transaction."
__________
(date)
(purchaser's signature)
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.1988, 24:2, eff. Jan. 1, 1989.