Indiana § 24-5-15-7 Contract between consumer and credit services organization; notice of
cancellation form

Indiana Statutes

§ 24-5-15-7 — Contract between consumer and credit services organization; notice of cancellation form

Indiana·Art. 5 CONSUMER SALES·Ch. 15 Credit Services Organizations

(a)Except as provided in subsection (d), a contract between a consumer and a credit services organization concerning the purchase of the services of the credit services organization must be in writing, be dated and signed by both the consumer and the credit services organization, and include all of the following:

(1)A statement in at least 10 point boldface type in immediate proximity to the space reserved for the signature of the buyer that reads: "You, the buyer, may cancel this contract at any time before midnight of the third business 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 amount of all payments to be made by the buyer to the credit services or

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Except as provided in subsection (d), a
contract between a consumer and a credit services organization
concerning the purchase of the services of the credit services
organization must be in writing, be dated and signed by both the
consumer and the credit services organization, and include all of the
following:
(1) A statement in at least 10 point boldface type in immediate
proximity to the space reserved for the signature of the buyer that
reads:
"You, the buyer, may cancel this contract at any time before
midnight of the third business 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
amount of all payments to be made by the buyer to the credit
services organization or to another person.
(3) A complete and detailed description of the services to be
performed and the results to be achieved by the credit services
organization for or on behalf of the buyer, including all
guarantees and all promises of full or partial refunds and a list of
the adverse information appearing on the consumer's credit report
that the credit services organization expects to have modified and
the estimated date by which each modification will occur.
(4) The principal business address of the credit services
organization and the name and address of the credit services
organization's agent in Indiana authorized to receive service of
process.
(b) A contract shall be accompanied by two (2) copies of a form
captioned "NOTICE OF CANCELLATION" attached to the contract
and that contains the following statement in at least 10 point boldface
type:
(c) A credit services organization shall give a copy of the completed
contract and all other documents required by the credit services
organization to the buyer at the time the contract and the documents are
signed.
(d) If a contract is subject to this chapter and to IC 24-5.5, IC 24-5.5-4 applies to the contract.

Indiana § 24-5-15-7 (Contract between consumer and credit services organization; notice of cancellation form) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.