Okla. Stat. tit. 24, § 24-137
This is the official text of Okla. Stat. tit. 24, § 24-137, part of Oklahoma’s Stat. tit. 24, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 24,." Browse the sections below, each linked to its official government source.
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Contracts - Contents - Form for "Notice of Cancellation" -
Official statutory text
Copies.
A. Each 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, signed by the buyer, and
include the following:
1. A conspicuous statement in bold face 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";
2. 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;
3. 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, and the estimated date by which the services are to be
performed, or estimated length of time for performing the services;
and
4. The credit services organization's principal business
address which shall be the actual office location of the
organization and the name and address of its agent in the state
authorized to receive service of process.
B. The contract shall be accompanied by a completed form in
duplicate, captioned "Notice of Cancellation" that shall be attached
to the contract, be easily detachable, and contain in bold face type
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 five (5) days from the date the contract is
signed.
If you cancel any payment made by you under this contract,
it will be returned within ten (10) days following receipt by
the seller of your cancellation notice.
To cancel this contract, mail or deliver a signed dated
copy of this cancellation notice, or any other written notice to
(name of seller) at (address of seller)
(place of business) not later than midnight (date)
I hereby cancel this transaction,
Oklahoma Statutes - Title 24. Debtor and Creditor Page 25
(date)
(purchaser's signature) "
C. The credit services organization shall give to the buyer a
copy of the completed contract and all other documents the credit
services organization requires the buyer to sign at the time they
are signed.
A. Each 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, signed by the buyer, and
include the following:
1. A conspicuous statement in bold face 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";
2. 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;
3. 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, and the estimated date by which the services are to be
performed, or estimated length of time for performing the services;
and
4. The credit services organization's principal business
address which shall be the actual office location of the
organization and the name and address of its agent in the state
authorized to receive service of process.
B. The contract shall be accompanied by a completed form in
duplicate, captioned "Notice of Cancellation" that shall be attached
to the contract, be easily detachable, and contain in bold face type
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 five (5) days from the date the contract is
signed.
If you cancel any payment made by you under this contract,
it will be returned within ten (10) days following receipt by
the seller of your cancellation notice.
To cancel this contract, mail or deliver a signed dated
copy of this cancellation notice, or any other written notice to
(name of seller) at (address of seller)
(place of business) not later than midnight (date)
I hereby cancel this transaction,
Oklahoma Statutes - Title 24. Debtor and Creditor Page 25
(date)
(purchaser's signature) "
C. The credit services organization shall give to the buyer a
copy of the completed contract and all other documents the credit
services organization requires the buyer to sign at the time they
are signed.
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