MISSISSIPPI LEGISLATURE

1999 Regular Session

To: Judiciary

By: Senator(s) Furniss

AN ACT TO PROVIDE FOR A CANCELLATION PERIOD IN CONTRACTS FOR THE SALE OF NEW PRIVATE CARRIERS OF PASSENGERS OR LIGHT CARRIERS OF PROPERTY; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. (1) Any contract for the sale of a new private carrier of passengers or new light carrier of property, as such terms are defined in Section 27-51-101, Mississippi Code of 1972, shall contain a cancellation or "cooling off" period of twenty-four (24) hours within which the purchaser may cancel the sale and return his purchase, in the same condition in which he received it, for a full refund without penalty. Each contract for such a sale shall have this information included in bold print, and the motor vehicle dealer or his representative shall verbally inform the purchaser about this provision and show it to him in the sales contract at the time of the purchaser's execution of the contract. The contract shall set forth specifically when the 24-hour period begins and when it ends.

(2) Any contracts or agreements for the sale of a new private carrier of passengers or a new light carrier of property which are in violation of the provisions of this section and any sales made pursuant to a procedure which is in violation of the provisions of this section are void and are not enforceable at law or in equity.

SECTION 2. This act shall take effect and be in force from and after July 1, 1999.