Tennessee Statutes
§ 62-29-203 — Rescission of loan
Tennessee·Title 62
A borrower who obtains a refund anticipation loan may rescind the loan on or before the close of business on the next day of business, by either returning the original check issued for the loan or providing the amount of the loan in cash to the lender or the facilitator. The facilitator may not charge the borrower a fee for rescinding the loan or a refund anticipation loan fee if the loan is rescinded. For the purpose of establishing or maintaining an account to electronically receive and distribute the refund, a customer may be charged a fee by a federally insured depository institution.
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Legislative History
Acts 2007, ch. 172, § 3.
Nearby Sections
15
§ 62-1-101
Short title§ 62-1-102
Legislative intent§ 62-1-103
Chapter definitions§ 62-1-109
Persons certified under prior law§ 62-1-111
Revocation, suspension or refusal to renew license - Other penalties - Hearings - Procedure - Costs§ 62-1-112
Injunctions and restraining orders§ 62-1-113
Prohibited activities