§514E-8  Mutual right to cancel.  Within
seven calendar days after the execution of the contract to purchase an interest
in a time share plan, or within seven calendar days after the purchaser's
receipt of a disclosure statement required by this chapter, whichever occurs
later, either party may cancel the contract without penalty by mailing or
delivering a notice of cancellation to the other party at an address specified
on the contract.  The notice of cancellation shall be effective upon mailing or
delivery to the other party at the address specified on the contract. [L 1980,
c 186, pt of §1; am L 1985, c 114, §2]