Arizona Laws 44-1797.14. Rescission and pro rata refund; removal of place of business
If a discount buying organization removes its place of business, or if it conducts business at more than one location, that place of business which is geographically closest to the buyer’s residence indicated on the face of the contract, more than twenty miles farther from the buyer’s residence than it was at the time the contract for discount buying services was entered into, the organization shall offer rescission and a pro rata refund to each buyer affected, based on the amount of time for which the buyer has been a member of the organization.
Terms Used In Arizona Laws 44-1797.14
- Contract: A legal written agreement that becomes binding when signed.
- Contract for discount buying services: means a written contract between one party who is purchasing the service for personal or family use and a discount buying organization by which the buyer for a consideration receives the right to obtain goods or services from the discount buying organization or to utilize the discount buying organization services in obtaining goods and services at discount prices. See Arizona Laws 44-1797
- organization: means a person, corporation, unincorporated association or other organization that, for a consideration, provides or purports to provide its clients or the clients or members of any other discount buying organization with the ability to purchase goods or services at discount prices, except that such organization does not include:
(a) A discount buying organization in which the total consideration paid by each client or member in any manner whatsoever for the purchase of discount buying services from such organization does not exceed a one-time fee of fifty dollars or an annual fee of fifty dollars to be paid on a yearly basis. See Arizona Laws 44-1797
- Pro rata refund: means the actual amount paid for the discount buying services excluding interest, less the product of the actual amount paid for the discount buying services excluding interest multiplied by a fraction, the numerator of which is the number of months the person was a member of the discount buying organization and the denominator of which is thirty. See Arizona Laws 44-1797
- Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.