376.925. Seven-day rescission period, all money or property to be refunded. - Missouri Statutes

Seven-day rescission period, all money or property to be refunded.

376.925. The life care contract shall provide that anyperson entering into the contract shall have a period of sevendays beginning with the first full calendar day following thelast to occur of the execution of the contract, the payment of aninitial sum of money as a deposit or application fee, or receiptof a copy of the provider's application or most recent annualreport within which to rescind the life care contract withoutpenalty or further obligation. In the event of such rescission,all money or property paid or transferred by such person shall befully refunded by the provider. No person shall be required tomove into a facility until after the expiration of the seven-dayrescission period.

(L. 1981 S.B. 84 § 4, subsec. 7)