SECTION .0300 ‑ CANCELLATION

 

21 NCAC 58B .0301          PROOF OF CANCELLATION

(a)  The postmark date affixed to any written notice of a

purchaser's intent to cancel his or her time share purchase shall be presumed

by the Commission to be the date the notice was mailed to the developer. 

Evidence tending to rebut this presumption shall be admissible at a hearing

before the Commission.

(b)  Upon receipt of a purchaser's written notice of his or

her intent to cancel his or her time share purchase, the developer, or his or

her agent or representative, shall retain the notice and any enclosure,

envelope or other cover in the developer's files at the project, and shall

produce the file upon the Commission's request.

(c)  When there is more than one registered developer at a

time share project and a purchaser gives written notice of his or her intent to

cancel his or her time share purchase that is received by a developer or sales

staff other than the one from whom his or her time share was purchased, the

developer or sales staff receiving such notice shall promptly deliver it to the

proper developer who shall then honor the notice if it was timely sent by the

purchaser.

 

History Note:        Authority G.S. 93A‑51; 93A‑54(d);

Eff. September 1, 1984;

Amended Eff. October 1, 2000; August 2, 1993; February 1,

1989.