1. (1) In a home solicitation sale, unless the buyer requests the seller to provide goods or services without delay in an emergency, the seller must present to the buyer and obtain his signature to a written agreement or offer to purchase which designates as the date of the transaction the date on which the buyer actually signs and contains a statement of the buyer's rights which complies with subsection (2).

2. (2) The statement must

   1. (a) appear under the conspicuous caption "BUYER'S RIGHT TO CANCEL"; and

   2. (b) read as follows: "If this agreement was solicited at your residence and you do not want the goods or services, you may cancel this agreement by mailing a notice to the seller. The notice must say that you do not want the goods or services and must be mailed before midnight of the third business day after you sign this agreement. The notice must be mailed to:

      ___________________________________________.
      (Insert name and mailing address of seller)

      If you cancel, the seller may keep all or part of your cash down payment not to exceed five percent (5%) of the cash price."

3. (3) Until the seller has complied with this section the buyer may cancel the home solicitation sale by notifying the seller in any manner and by any means of his intention to cancel.

Laws 1969, HB 1001, c. 352, § 2-503, emerg. eff. July 1, 1969.