Section 5-93-11 - [Effective 3/1/2025] Customer right to cancel or rescind solar agreement(a) The customer has the right to cancel or rescind a solar agreement within seven (7) days of entering into the solar agreement. The standard disclosure form required under § 5-93-6 may also include the written right of rescission notice required to inform the customer of this right as provided in subsection (b) of this section.(b) The solar retailer shall, at the time of entry into the contract, lease or other agreement give a written right of cancellation or rescission notice to the consumer, in hard copy or via electronic mail with copy attached or downloadable, which must substantially comply with this section. The notice must: (1) Appear in the contract, lease, or other agreement under the conspicuous caption: "NOTICE OF RIGHT TO CANCEL OR RESCIND"; and(2) Read as follows: (DATE OF TRANSACTION) "YOU MAY CANCEL AND RESCIND THIS AGREEMENT, WITHOUT ANY PENALTY OR OBLIGATION, WITHIN SEVEN (7) BUSINESS DAYS FROM THE ABOVE DATE. IF YOU CANCEL OR RESCIND, YOUR CANCELLATION OR RESCISSION NOTICE MUST STATE THAT YOU DO NOT WISH TO BE BOUND BY THE AGREEMENT AND MAILED BY REGISTERED OR CERTIFIED MAIL NOT LATER THAN MIDNIGHT SEVEN (7) DAYS FOLLOWING THE CONSUMER'S SIGNING THE AGREEMENT, EXCLUDING SUNDAY AND ANY HOLIDAY ON WHICH REGULAR MAIL DELIVERIES ARE NOT MADE. ALL CANCELLATIONS MUST BE MAILED TO:
(INSERT NAME AND ADDRESS OF THE SELLER)."
(c) Whenever a contract, lease or other agreement for the sale or lease of a residential solar energy system fails to conform to the provisions of this section and/or if the consumer or the consumers agent has notified the solar retailer of the consumer's intent to cancel the agreement by registered mail, return receipt requested, the solar retailer shall have five (5) business days to return to the consumer any deposits, fees, costs or other payments made by the consumer and any note or other evidence of indebtedness, and any security interest arising out of the transaction shall be cancelled or terminated. Failure to return all deposits, fees, costs and other payments and evidence of indebtedness or to cancel or terminate any security interest shall enable the consumer to recover from the solar retailer treble damages plus reasonable attorneys' fees and costs in any subsequent legal proceeding.(d) The consumer's right of rescission shall not be waived, sold, or abrogated in any way or manner.Added by 2024 Pub. Laws, ch. 67,§ 2, eff. 3/1/2025.Added by 2024 Pub. Laws, ch. 68,§ 2, eff. 3/1/2025.