Cancellation of purchase
Sec. 7. (a) A purchaser has the right to cancel a camping club
membership or time share purchase within seventy-two (72) hours
after the execution of the sales contract, excluding Sundays and legal
holidays as set forth in IC 1-1-9-1. The right of cancellation shall be
set forth conspicuously in boldface type on the first page of any time
share instrument or camping club membership agreement and
immediately above the signature of the purchaser on any sales
contract. In each case, the cancellation clause must include an
explanation of the conditions and manner of exercise of the
cancellation right. The right of cancellation may not be waivable by
any purchaser. The developer shall furnish to each purchaser a form,
as prescribed by the agency, for the exercise of the right.
(b) To cancel a camping club membership or time share purchase,
a consumer must give notice of cancellation by mail or telegraphic
communication or as otherwise allowed by this subsection. The
notice is effective on the date postmarked or when transmitted from
the place of origin. Any written notice of cancellation delivered other
than by mail or telegraph is effective at the time of delivery at the
place of business of the developer or escrow agent designated in the
form of notice of cancellation.
As added by P.L.2-2002, SEC.17.
Last modified: May 24, 2006