16-2-109. DECEPTIVE TO FAIL TO HONOR NOTICE OF CANCELLATION OF HOME SOLICITATION SALE.

It is a deceptive practice within the meaning of Section 101 of this Chapter, for any seller, in connection with any home solicitation sale, to:

1. Fail or refuse to honor any valid notice of cancellation by a buyer and within ten business days after the receipt of such notice, to refund all payments made under the contract or sale; return any goods or property traded in, in substantially good condition as when received by the seller; cancel and return any negotiable instrument executed by the buyer in connection with the contract or sale and take any action necessary or appropriate to terminate promptly any security interest created in the transaction;
2. Fail, within ten business days of receipt of the buyer’s notice of cancellation, to notify him whether the seller intends to repossess or to abandon any shipped or delivered goods.