Sec. 601.052. NOTICE OF CONSUMER'S RIGHT TO CANCEL REQUIRED. (a) A merchant must provide a consumer with a complete receipt or copy of a contract pertaining to the consumer transaction at the time of its execution.
(b) The document provided under Subsection (a) must:
(1) be in the same language as that principally used in the oral sales presentation;
(2) contain the date of the transaction;
(3) contain the name and address of the merchant; and
(4) contain a statement:
(A) in immediate proximity to the space reserved in the contract for the signature of the consumer or on the front page of the receipt if a contract is not used; and
(B) in boldfaced type of a minimum size of 10 points in substantially the following form:
"YOU, THE BUYER, MAY CANCEL THIS TRANSACTION AT ANY TIME PRIOR TO MIDNIGHT OF THE THIRD BUSINESS DAY AFTER THE DATE OF THIS TRANSACTION. SEE THE ATTACHED NOTICE OF CANCELLATION FORM FOR AN EXPLANATION OF THIS RIGHT."
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.
Structure Texas Statutes
Title 12 - Rights and Duties of Consumers and Merchants
Chapter 601 - Cancellation of Certain Consumer Transactions
Subchapter B. Consumer's Right to Cancel Transaction
Section 601.051. Consumer's Right to Cancel
Section 601.052. Notice of Consumer's Right to Cancel Required
Section 601.053. Completed Cancellation Form Required
Section 601.054. Use of Forms and Notices Prescribed by the Federal Trade Commission Authorized
Section 601.055. Alternative Notice Authorized for Certain Consumer Transactions