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Connecticut General Statutes 21a-220 - Negotiable promissory notes to be clearly identified. Buyer's rights upon sale or discount. Time period for payment

Connecticut General Statutes > Title 21a > Chapter 420 > § 21a-220 - Negotiable promissory notes to be clearly identified. Buyer's rights upon sale or discount. Time period for payment


Current as of: 2009

If the buyer's obligation is in the form of a negotiable promissory note, such contract shall state in boldface type on the face page of said contract that the buyer's promissory note may be discounted and sold to third parties to whom the buyer will become obligated to make full payment. The selling or discounting of a negotiable promissory note which represents the buyer's obligation under a health club service contract shall not affect the right of the buyer to cancel the contract, the method by which cancellation may be made, or the buyer's rights under section 52-572g or Section 433.1 et seq. of Title 16 of the Code of Federal Regulations, as they may from time to time be amended. When a buyer's obligation is in the form of a promissory note, the time period for payment of the note shall not exceed the term of the health club contract.

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Questions & Answers: Health Clubs

Shall not contain an automatic renewal clause. Does that mean it just can't have a clause saying this contract automatically renews. or can they sign something that say this con...
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