The Florida Senate

721.51  Legislative purpose; scope.--

(1)  The purpose of this part is to advance the purposes of this chapter as set forth in s. 721.02 with respect to multisite vacation and timeshare plans, also known as vacation clubs.

(2)  All multisite timeshare plans shall be governed by both part I and this part except where otherwise provided in this part. In the event of a conflict between the provisions of part I and this part, the provisions of this part shall prevail.

(3)(a)  A multisite timeshare plan which includes accommodations located in this state, but which is offered exclusively outside of the jurisdictional limits of the United States shall be exempt from all other requirements of this part if it complies with paragraph (b).

(b)  In order to claim exemption from regulation under this part pursuant to paragraph (a), the person claiming exemption shall register the following minimum information with the division pertaining to the multisite timeshare plan:

1.  The name and address of the multisite timeshare plan;

2.  The name and address of the developer or seller;

3.  The location and a brief description of the accommodations and facilities of the multisite timeshare plan;

4.  The number of timeshare periods to be offered;

5.  The term of the multisite timeshare plan; and

6.  A copy of the form purchase contract to be utilized in offering the multisite timeshare plan, which contract must contain the disclosure required by paragraph (c).

The division is authorized to adopt rules requiring additional information to be furnished to the division or in the purchase contract in connection with the registration for exemption. The initial exemption registration fee shall be $100; however, the division may provide by rule for an exemption registration fee of up to $500. No person shall be entitled to claim exemption pursuant to paragraph (a) until that person has fully registered pursuant to this paragraph.

(c)  Each purchase contract utilized in offering a multisite timeshare plan for which an exemption is claimed pursuant to this subsection shall contain the following disclosure in conspicuous type immediately above the space provided for the purchaser's signature:

The offering of this timeshare plan outside the jurisdictional limits of the United States of America is exempt from regulation under Florida law, and any purchase resulting from such an offer is not protected by the State of Florida. However, the management and operation of any accommodations or facilities located in Florida is subject to Florida law and may give rise to enforcement action regardless of the location of any offer.

History.--s. 12, ch. 93-58; s. 18, ch. 95-274.