This bill amends existing law to allow certain consumers, specifically those aged 60 years or older and individuals with intellectual disabilities, to cancel home improvement contracts within five business days of receiving a signed copy, as opposed to the standard three-day cancellation period applicable to all consumers. The bill mandates that home improvement contracts include a conspicuous notice informing these consumers of their extended cancellation rights. Additionally, it stipulates that all goods delivered under a cancelled contract must be returned within 30 days, and any payments made must be refunded within the same timeframe.

Furthermore, the bill introduces a new provision allowing consumers to cancel contracts for the sale of goods priced at $500 or more within three business days, provided they meet the same age or disability criteria. It also outlines the process for cancellation, including the requirement for refunds and the return of goods. The bill clarifies that these provisions do not apply to real estate transactions. Overall, the legislation aims to enhance consumer protection by providing additional time for vulnerable consumers to reconsider their contractual commitments.

Statutes affected:
Introduced: 56:8-151