HRS §480J-6
Canceling a loan within three business days
You can cancel an installment loan within three business days by returning the money you got. The lender must give back any fees and interest you paid and return your signed agreement marked as canceled. The lender cannot charge you for canceling.
borrowers
The statute, as written — Right of rescission
(a) A consumer shall have the right to rescind an installment loan, at or before 5:00 p.m., Hawaii-Aleutian Standard Time, on the third business day after the date the loan was originated and at the location where the loan was originated, by returning the principal in cash, the original check or money order disbursed by the lender, or the other disbursement of loan proceeds from the lender to fund the loan. The lender shall not charge the consumer for rescinding the loan. (b) At the time of rescission, the lender shall refund any loan fees and interest received associated with the rescinded loan and shall return to the consumer the originally signed written agreement, clearly marked across the face: "RESCINDED BY [lender's name; license number], [date]" and below which the lender's authorized representative shall sign.
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