Posted by Kelly R/SO California on 12/16/04 7:21am
Msg #13781

New Jurat for 2005 (CA)

Just go to www.notaryclasses.com and you'll find a free download for the new CA Jurat and Rescission Calendars as well. And BTW, Harry's new Jurat Stamp sold here is first class - thanks Harry! ox

Reply by PAW Notary Services on 12/16/04 8:04am
Msg #13784

Rescission Calendars are in error - PLEASE NOTE ...

The rescission calenders for Dec 04 and Jan 05 are in error on the notaryclasses.com website.

Many other rescission calendars that are available for download from other sources may be in error as well. Please check carefully.

*** December 24th and December 31st are not considered holidays. ***

The following excerpt is from the Compliance Headquarters offering an interpretation of the clarification commentary from the Federal Reserve:

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Question: How did the latest Reg Z Commentary change the right of rescission rules?

Answer: The newly announced revisions to the Reg Z Commentary did not change any right of rescission rules, but simply clarified one technical aspect of the right of rescission rules.

As you know, when the right of rescission applies, consumers have the right to cancel the transaction until midnight of the third business day following consummation or the delivery of certain disclosures, whichever occurs last. A "business day" includes every calendar day except Sundays and federal holidays listed by federal statute. The statute identifies four of these holidays by date [New Year's Day (January 1), Independence Day (July 4), Veterans Day (November 11) and Christmas Day (December 25).] When one of these four date-specific federal holidays fell on a weekend and the federal government and other institutions were closed in observance of the holiday on either the preceding Friday or the following Monday, many were confused about whether the Friday or Monday was a "business day" for right of rescission purposes. The new Commentary clarifies that the Friday or Monday before a date-specific federal holiday is a business day (and counts against the time a consumer has the right to rescind) even if government and other offices are closed in observance of the holiday.
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It must be noted that not all calendars are wrong. Some calendars do show the correct dates.

The following are the rescission expiration dates for the period 12/20/04 through 1/3/05:

MON, 12/20/04 ---> THU, 12/23/04
TUE, 12/21/04 ---> FRI, 12/24/04
WED, 12/22/04 ---> MON, 12/27/04
THU, 12/23/04 ---> TUE, 12/28/04
FRI, 12/24/04 ---> WED, 12/29/04
SAT, 12/25/04 ---> WED, 12/29/04
SUN, 12/26/04 ---> WED, 12/29/04
MON, 12/27/04 ---> THU, 12/30/04
TUE, 12/28/04 ---> FRI, 12/31/04
WED, 12/29/04 ---> MON, 01/03/05
THU, 12/30/04 ---> TUE, 01/04/05
FRI, 12/31/04 ---> WED, 01/05/05
SAT, 01/01/05 ---> WED, 01/05/05
SUN, 01/02/05 ---> WED, 01/05/05
MON, 01/03/05 ---> THU, 01/06/05

Reply by Julie on 12/16/04 2:25pm
Msg #13799

Re: Rescission Calendars are in error - PLEASE NOTE ...

I've yet to figure out the need for recission calendars.

Simply count three business days--there seems to be some recent posts regarding inaccuracies with some of the recission calendars. How helpful are these things?

Reply by Jon on 12/16/04 2:44pm
Msg #13803

Re: Rescission Calendars are in error - PLEASE NOTE ...

In my opinion, if a person is doing this job, they should know how to figure the 3 day recission notice. This is one of the most basic aspects of our job. 1, 2, 3, how hard is that? My 4 yr old could do that when she was 2!! My point is that rescission calendars make a person lazy. If you don't want to think, get a different job.

OK, blast away

Reply by CaliNotary on 12/16/04 5:34pm
Msg #13829

Re: Rescission Calendars are in error - PLEASE NOTE ...

I completely agree with you and Julie. I've never used a recission calendar, and have never felt the need to. The trickiest part about it is remember the obscure holidays like Columbus day and even that isn't too difficult.

Reply by Kelly R on 12/16/04 6:13pm
Msg #13837

Thanks Paul! Good Observation - Yikes!

Anyhow, the original post was so that California notaries public could download a free 2005 Jurat and in end I would like to say to those of your who responded: Your Welcome

Reply by CaliNotary on 12/16/04 6:48pm
Msg #13844

Re: Thanks Paul! Good Observation - Yikes!

That sounded a little bit snotty. The original post mentioned both jurats and recission calendars and we discussed the need for a recission calendar. You don't need to tell us what the original post was about, we're free to take the discussion in whatever direction we choose to.

And BTW "You're" and "Your" are not interchangeable words, they have distinct and different meanings.

Reply by Brenda Stone on 12/16/04 10:33pm
Msg #13858

More Commentary on Rescission Calendars

http://www.ftc.gov/bcp/conline/pubs/alerts/3dayalrt.htm

States in relevant part:

"For rescission purposes, business days include Saturdays but not Sundays or legal public holidays. For example, if the events listed above take place on a Friday, you have until midnight on the next Tuesday to rescind."

This is just a general overview, but led me to question whether or not a holiday such as San Jacinto Day (Texas Holiday) is a consideration given the usage of the term "legal" public holiday.

Apparently, only FEDERAL holidays are used. Is this correct? I know we have had this discussion before, Paul, but I promise to remember this time, if you will answer it again for me.

Reply by Roger/OH on 12/16/04 11:05pm
Msg #13868

Rule of Thumb...

If the U.S. Postal Service is delivering mail that day, it's NOT a holiday.

Reply by BrendaTX on 12/16/04 11:19pm
Msg #13871

Re: Rule of Thumb...

"If the U.S. Postal Service is delivering mail that day, it's NOT a holiday."

Thank you Roger!

Reply by Jon on 12/17/04 12:52am
Msg #13878

Re: Rule of Thumb...

New Year's Day
Martin L King Jr B-day
President's Day
Memorial Day
Independence Day
Labor Day
Columbus Day
Veteran's Day
Thanksgiving Day
Christmas Day

All ten FEDERAL holidays.

Make a list and keep it in your briefcase.

Reply by BrendaTX on 12/17/04 7:14am
Msg #13887

Re: Rule of Thumb...

Thanks, Jon.

The reason I keep asking about San Jacinto Day is because I did not count it once and got called down on it by an SS.

Reply by PAW Notary Services on 12/17/04 8:14am
Msg #13893

Re: Rule of Thumb...

Some states have "state" holidays, such as San Jacinto day. Rhode Island celebrates V-J Day, Massachusetts celebrates Patriot Day. Again, these are state holidays and not federal holidays, so they are counted as rescission days.

RoT (Rule of Thumb) that Roger posted is pretty good. There are some exceptions though, when the federal government observes a holiday on the Friday preceding or the Monday following a holiday that occurs on a weekend. The post office may be closed on the observed holiday, but that day is still counted as a day of rescission under Reg Z.

Reply by BrendaTX on 12/17/04 10:09am
Msg #13904

Re: Rule of Thumb...

Got it. Thanks.

Reply by PAW Notary Services on 12/17/04 8:08am
Msg #13892

Re: More Commentary on Rescission Calendars

Brenda, et al ...

For purposes of rescission, section 226.2(a)(6) defines “business day” to mean all calendar days except Sundays and the federal legal holidays listed in 5 U.S.C. § 6103(a).

This is taken directly from the Federal Reserve Systems' commentary on Reg Z (http://www.federalreserve.gov/boarddocs/press/boardacts/2002/20020403/attachment.pdf)

Federal holidays, as listed in 5 USC can be found at http://www.opm.gov/fedhol/index.asp