The life care contract shall provide that any person entering into the contract shall have a period of seven days beginning with the first full calendar day following the last to occur of the execution of the contract, the payment of an initial sum of money as a deposit or application fee, or receipt of a copy of the provider's application or most recent annual report within which to rescind the life care contract without penalty or further obligation. In the event of such rescission, all money or property paid or transferred by such person shall be fully refunded by the provider. No person shall be required to move into a facility until after the expiration of the seven-day rescission period.
Mo. Rev. Stat. § 376.925
Seven-day rescission period, all money or property to be refunded
Known as the Standard Valuation Law
The act spans §§ 376–376 (408 sections).
Effective: 28 Aug 1981; (L. 1981 S.B. 84 § 4, subsec. 7)
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.