The seller shall deliver to the purchaser a fully executed copy of the contract, which contract shall include at least the following information:
(1) The actual date the contract is executed by the purchaser.
(2) The name of the seller and address of the principal place of business.
(3) The total financial obligation imposed upon the purchaser by the contract, including the initial purchase price and any additional charges which the purchaser may be required to pay.
(4) A description of the nature and duration of the plan being purchased.
(5) A statement that the seller, salesperson or any other person who is in the business of offering for sale or transfer the rights under contracts for a fee is required by this chapter to provide each purchaser of a vacation time-sharing plan with a copy of the seller’s disclosure statement prior to execution of such contract and that a failure to do so is a violation of this chapter.
(6) The following statement shall appear in the contract, under its own paragraph, immediately above the space reserved in the contract for the signature of the purchaser, in boldfaced type of a minimum size of 10 points:
“PURCHASER’S NONWAIVABLE RIGHT TO CANCEL”
shall appear at the beginning of said paragraph in boldfaced type of a minimum of 10 points, immediately preceding the following statement:
____(Date of Transaction)
“YOU MAY CANCEL THIS CONTRACT WITHOUT ANY PENALTY OR OBLIGATION WITHIN 5 BUSINESS DAYS FROM THE ABOVE DATE.
IF YOU CANCEL, ANY PAYMENTS MADE BY YOU UNDER THE CONTRACT AND ANY NEGOTIABLE INSTRUMENT EXECUTED BY YOU WILL BE RETURNED WITHIN 15 BUSINESS DAYS FOLLOWING RECEIPT BY THE SELLER OF YOUR CANCELLATION NOTICE, AND ANY SECURITY INTEREST ARISING OUT OF THE TRANSACTION WILL BE CANCELLED.
IF YOU DECIDE TO CANCEL THIS CONTRACT, YOU MUST NOTIFY THE SELLER IN WRITING BY CERTIFIED MAIL OF YOUR INTENT TO CANCEL. YOUR NOTICE OF CANCELLATION SHALL BE EFFECTIVE UPON THE DATE SENT AND SHALL BE SENT
TO: ____(Name of Seller) AT ____(Address of Seller)
NO PURCHASER SHOULD RELY UPON REPRESENTATIONS OTHER THAN THOSE INCLUDED IN THIS CONTRACT.”
If no interest in real property is being conveyed, the contract shall also contain the following statement:
“YOU MAY ALSO CANCEL THIS CONTRACT AT ANY TIME AFTER THE ACCOMMODATIONS OR FACILITIES ARE NO LONGER AVAILABLE AS PROVIDED IN THIS CONTRACT.”
(7) The full name of all sales persons involved in the execution of the membership camping resort contract.
67 Del. Laws, c. 433, § 1.
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