No caller or merchant making or causing to be made a telephone solicitation shall request or accept payment from a consumer or make or submit any charge to the consumer's credit or bank account until either:
(1) The merchant receives from the consumer a signed copy of a written contract complying with KRS 367.46961(4); or (2) The cancellation period provided in KRS 367.46961(1) has expired, and the consumer has not exercised his right to cancel.