Montana Code 33-30-1005. Right of rescission
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33-30-1005. Right of rescission. Each membership contract, other than a group contract, issued for delivery in this state on or after January 1, 1980, must contain a notice stating in substance that if the person to whom the contract is issued is not satisfied for any reason, the person is permitted to return the contract within 10 days of its delivery or a longer period that the contract may provide and to have refunded the amount of the premium paid. A contract returned pursuant to this section is void from the beginning.
Terms Used In Montana Code 33-30-1005
- Contract: A legal written agreement that becomes binding when signed.
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- 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 The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded.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.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201