(a) Any person who has elected to become a member of a club may cancel such membership by giving written notice any time before twelve o’clock (12:00) midnight of the third business day following the date on which membership was attained, subject to § 47-18-503. Such cancellation shall be without liability on the part of the member and shall entitle the member to a refund of the entire consideration paid for the contract.

Terms Used In Tennessee Code 47-18-502

  • Business day: means any day other than a Saturday, Sunday, or legal holiday. See Tennessee Code 47-18-501
  • club: means any person, corporation, partnership, unincorporated association, or other business enterprise operating for profit within the state of Tennessee, the primary purpose of which is to provide benefits to members from the cooperative purchase of services or merchandise. See Tennessee Code 47-18-501
  • Contract: A legal written agreement that becomes binding when signed.
  • Contract: means any oral or written agreement by which one becomes a member of a club. See Tennessee Code 47-18-501
  • member: means any status by which any natural person is entitled to any of the benefits of a discount buying organization. See Tennessee Code 47-18-501
  • Person: means a natural person, consumer, individual, governmental agency, partnership, corporation, trust, estate, incorporated or unincorporated association, and any other legal or commercial entity however organized. See Tennessee Code 47-18-2102
  • written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
(b) Notice of cancellation must be in writing and delivered personally or by mail. If given by mail, the notice is effective upon deposit in a mailbox, properly addressed and postage paid. Notice of cancellation need not take a particular form and is sufficient if it indicates, by any form of written expression, the intention of the member not to be bound by the contract. If delivered personally, the notice is to be accepted by any agent or employee of the club, and a receipt for the notice must be given by that agent or employee to the person cancelling.
(c) The entitled refund shall be delivered to the member within fourteen (14) days after notice of cancellation is given.
(d) Rights of cancellation may not be waived or otherwise surrendered.
(e) Cancellation shall not relieve the member from paying for any merchandise or services purchased or ordered prior to the date of cancellation.
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