The Florida Senate

721.03  Scope of chapter.--

(1)  This chapter applies to all timeshare plans consisting of more than seven timeshare periods over a period of at least 3 years in which the accommodations or facilities are located within this state; provided that:

(a)  With respect to timeshare plans containing accommodations or facilities located in this state which are offered for sale in other jurisdictions within the jurisdictional limits of the United States that regulate the offering of timeshare plans, such offers shall not be subject to the provisions of ss. 721.06, 721.08-721.12, and 721.20 to the extent that such activity is regulated in the other United States jurisdictions, but only after the division has received and accepted satisfactory evidence that the timeshare plan has been filed and accepted by the appropriate agency in the other jurisdictions. The director of the division shall also have the discretion to require all or a portion of the disclosures required by s. 721.07 or s. 721.55 to be made in connection with offers made in the other United States jurisdictions.

(b)  With respect to timeshare plans containing accommodations or facilities located in this state which are offered for sale outside the jurisdictional limits of the United States, such offers shall be exempt from the requirements of this chapter so long as the seller files the information required by s. 721.07 or s. 721.55 with, and obtains the approval of, the division. This exemption becomes effective upon the filing of such information with the division, if approval is obtained within 6 months after the initial filing at which time the exemption will expire unless the division stipulates otherwise or approves the filing. The fees set forth in s. 721.07(4) apply to all filings made hereunder. Each purchase contract utilized in any offer of a timeshare plan that occurs outside the jurisdictional limits of the United States 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 such purchase 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.


Purchaser should note that  (name of developer or other person or entity)  at  (address)  has a  (describe developer's or other person's or entity's actual interest)  in the accommodations and facilities of the timeshare plan.

(c)  The exemption provided in paragraph (a) shall not apply unless and until a claim of exemption from regulation containing the information required by paragraph (a) and s. 721.51(3)(b) and accompanied by the fee required by s. 721.51(3)(b) is filed with and approved by the division. The division may adopt rules designating those provisions of ss. 721.07 and 721.55 which need not be addressed in the filings required in paragraph (b).

(2)  All timeshare accommodations or facilities which are located outside the state but offered for sale in this state are subject only to the provisions of ss. 721.01-721.12, 721.18, 721.20, 721.21, 721.26, and 721.28. All timeshare accommodations or facilities which are located outside the state but offered for sale in this state as part of a vacation club are also subject to the provisions of part II.

(3)  When a timeshare plan is subject to both the provisions of this chapter and the provisions of chapter 718 or chapter 719, the plan shall meet the requirements of both chapters unless exempted as provided in this section. The division shall have the authority to adopt rules differentiating between timeshare condominiums and nontimeshare condominiums, and between timeshare cooperatives and nontimeshare cooperatives, in the interpretation and implementation of chapters 718 and 719, respectively. In the event of a conflict between the provisions of this chapter and the provisions of chapter 718 or chapter 719, the provisions of this chapter shall prevail.

(4)  A timeshare plan which is subject to the provisions of chapter 718 or chapter 719, if fully in compliance with the provisions of this chapter, is exempt from the following:

(a)  Sections 718.202 and 719.202, relating to sales or reservation deposits prior to closing.

(b)  Sections 718.502 and 719.502, relating to filing prior to sale or lease.

(c)  Sections 718.503 and 719.503, relating to disclosure prior to sale.

(d)  Sections 718.504 and 719.504, relating to prospectus or offering circular.

(5)  The treatment of timeshare estates for ad valorem tax purposes and special assessments shall be as prescribed in chapters 192 through 200.

(6)  Membership camping plans shall be subject to the provisions of ss. 509.501-509.512 and not to the provisions of this chapter.

(7)  Unless otherwise provided herein, this chapter shall not apply to the offering of any timeshare plan under which the prospective purchaser's total financial obligation will be $1,500 or less during the entire term of the plan.

(8)  Every escrow agent or trustee required under this chapter, or under chapter 192 as it relates to timeshare plans, must be independent.

(9)  With respect to any accommodation or facility of a timeshare plan which is situated upon personal property, the division shall have the authority to adopt rules interpreting and implementing the provisions of this chapter as they apply to such accommodation or facility, or as they apply to any other laws of this state, of the several states, or of the United States with respect to such accommodation or facility.

History.--s. 1, ch. 81-172; s. 60, ch. 82-226; s. 2, ch. 83-264; s. 4, ch. 91-236; s. 1, ch. 93-58; s. 1, ch. 95-274; s. 1, ch. 98-36.