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
History Note: Authority G.S. 93A‑51; 93A‑54(d);
Eff. September 1, 1984;
Amended Eff. October 1, 2000; August 2, 1993; February 1,