SECTION 160:50-7-1. General requirements for presale agreements

(a)   In any presale agreement, the registrant shall inform the prospective buyer, prominently and in writing, of the date upon which the health spa which is the subject of the agreement shall open for business. In the event that not all services under the agreement shall be available to a buyer upon the date the facility opens, the registrant shall identify those services which shall be available and, separately, those which shall not be available. The registrant shall also state the anticipated date all services shall be available.

(b)   In the event no services will be available on the date specified by the registrant, the registrant, at the earliest possible time, shall notify each buyer with whom the registrant has a presale agreement that services shall not be available, specify the cause for the delay, and state the new date the services will be available.

(c)   This section shall not affect any rights of a buyer pursuant to the Act.

[Source: Added at 8 Ok Reg 3531, eff 8-28-91 (emergency); Added at 9 Ok Reg 2289, eff 6-25-92; Amended at 16 Ok Reg 2160, eff 6-25-99]