37-30A-11.   Return of goods within refund period--Duties of telemarketer who has received notice to cancel from consumer. The telemarketer shall guarantee the goods to be satisfactory to the consumer to the extent that the consumer may, at any time within the ten-day refund period, cancel the sale by notifying the telemarketer in writing, if the consumer returns to the telemarketer the goods sold in substantially the same condition as when the goods were received by the consumer. A telemarketer that has received the notice to cancel from a consumer shall, within thirty days of receipt of the notice:

             (1)      Refund all payments made, including any down payment made under the agreement;

             (2)      Return any goods or property traded in to the seller on account of or in contemplation of the agreement, in substantially the same condition as when received by the telemarketer; and

             (3)      Take any action necessary or appropriate to terminate promptly any security interest created in connection with the agreement.

Source: SL 1997, ch 222, § 11.

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