SECTION 160:70-5-1. Rescission

Latest version.

(a) A debtor has the right to rescind a deferred deposit loan until 5 p.m. on the next business day following the day the debtor signs the deferred deposit loan agreement [59:3105].
(b) No right to rescind period shall begin to run until all disclosures have been properly provided to the debtor.

[Source: Added at 20 Ok Reg 2852, eff 9-1-03 (emergency); Added at 21 Ok Reg 2707, eff 7-12-04]

                    
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