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.