R152-26-9. Right of Rescission

(1) For purposes of Section 13-26-5(2), a written notification of cancellation is effective the earlier of:

(a) when the notice is actually received by the seller; or

(b) when the notice is placed in the custody of the U.S. Postal Service, provided the postage is prepaid and the letter is properly addressed to the seller.

(2) A rescission letter is in the custody of the U.S. Postal Service when the letter is actually placed in the possession of a U.S. Postal Service employee or in a receptacle for letters authorized by the U.S. Postal Service.