Governor Scott Signs Timeshare Bill

2013-06-20

Issue Brief

SB 696 authored by Senator Kelli Stargel and its House companion, HB 7025,  by the Business and Professional Regulation Subcommittee and Representative Dane Eagle, provide much needed protections for timeshare owners seeking to transfer a timeshare as well as timeshare associations and their members. The bills also revise the current Trustee Foreclosure Process and correct an error in current condominium law in order to provide timeshare condominium associations relief from provisions relating to notices for annual meetings and the use of proxies in board elections. 

Impact

This legislation aims to help owners, managing entities and associations by enacting regulation of the timeshare transfer transaction, streamlining the trustee foreclosure process and fixing an inadvertent change to the condominium law which has led to additional regulatory burdens related to notice provisions for annual meetings and the use of proxies.

Position/Call to Action

ARDA and ARDA-ROC support SB 696 and HB 7025 as these changes will benefit both the timeshare industry and owners alike.

Issue Updates

HB 7025 passed unanimously out of the House Civil Justice Subcommittee of the Judiciary Committee with no questions or debate. The bill now moves to the Regulatory Affairs Committee for its last committee stop before going to the full House of Representatives for a vote.  

Resolution

CS/HB 7025 passed the Legislature on a nearly unanimous vote and was sent to the Governor on June 3.  Governor Scott signed the bill on June 12 and it took effect July 1, 2013.