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2024 Revised Code of Washington
Title 31 - Miscellaneous Loan Agencies
Chapter 31.45 - Check Cashers and Sellers.
31.45.086 - Small loans—Right of rescission.
Universal Citation:
WA Rev Code § 31.45.086 (2024)
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RCW 31.45.086
Small loans—Right of rescission.
A borrower may rescind a loan, on or before the close of business on the next day of business at the location where the loan was originated, by returning the principal in cash or the original check disbursed by the licensee to fund the small loan. The licensee may not charge the borrower for rescinding the loan and shall return to the borrower any postdated check taken as security for the loan or any electronic equivalent. The licensee shall conspicuously disclose to the borrower this right of rescission in writing in the small loan agreement or small loan note.
[ 2003 c 86 s 13.]
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