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CS/HB 7025: Timeshares

GENERAL BILL by Regulatory Affairs Committee ; Business and Professional Regulation Subcommittee ; Eagle

Timeshares; Specifies that certain provisions relating to condominium board elections do not apply to timeshare condominiums; revises formula requirements for calculating reserves for accommodations & facilities of real property timeshare plans; requires successor in interest to be listed as owner of timeshare interest under certain conditions; requires estoppel letter in certain timeshare resale transfer transactions; prohibits certain activities related to offering timeshare interest transfer services; requires resale transfer agreements to contain specified information; requires establishment of escrow account for certain purposes; provides requirements & duties of escrow agent; providing penalties; revises procedure for trustee foreclosure of assessment & mortgage liens; revises conditions under which trustee may sell foreclosed encumbered timeshare interest; revises & provides notice requirements; provides for perfection of notice; provides requirements for notice of lis pendens; provides exceptions for actions for failure to follow trustee foreclosure procedure.

Effective Date: 7/1/2013
Last Action: 6/13/2013 - Chapter No. 2013-159, companion bill(s) passed, see CS/CS/CS/HB 73 (Ch. 2013-188)
Location: Became Law
Bill Text: PDF



Bill History

Date Chamber Action
2/20/2013 House • Filed
3/4/2013 House • Referred to Civil Justice Subcommittee; Regulatory Affairs Committee -HJ 140
3/5/2013 House • Introduced -HJ 140
3/11/2013 House • On Committee agenda-- Civil Justice Subcommittee, 03/13/13, 12:00 pm, 404 HOB
3/13/2013 House • Favorable by Civil Justice Subcommittee; YEAS 12 NAYS 0 -HJ 248
• Now in Regulatory Affairs Committee -HJ 248
3/20/2013 House • On Committee agenda-- Regulatory Affairs Committee, 03/22/13, 8:30 am, 404 HOB
3/22/2013 House • CS by- Regulatory Affairs Committee; YEAS 18 NAYS 0 -HJ 356
3/26/2013 House • Pending review of CS -under Rule 7.19(c)
3/27/2013 House • Placed on Calendar -HJ 356
• CS by Regulatory Affairs Committee read 1st time -HJ 354
4/22/2013 House • Placed on Special Order Calendar, 04/24/13
4/24/2013 House • Read 2nd time -HJ 766
• Amendment(s) adopted (232465, 566523) -HJ 767
• Placed on 3rd reading
4/25/2013 House • Read 3rd time -HJ 835
• CS passed as amended; YEAS 116 NAYS 0 -HJ 835
4/25/2013 Senate • In Messages
• Referred to Judiciary; Regulated Industries -SJ 671
• Received -SJ 672
5/2/2013 Senate • Withdrawn from Judiciary; Regulated Industries -SJ 1019
• Placed on Calendar, on 2nd reading -SJ 1019
• Substituted for CS/SB 696 -SJ 1019
• Read 2nd time -SJ 1019
• Placed on 3rd reading
5/3/2013 Senate • Read 3rd time -SJ 1055
• CS passed; YEAS 38 NAYS 1 -SJ 1055
5/3/2013 House • Ordered enrolled -HJ 1470
6/3/2013 • Signed by Officers and presented to Governor
6/12/2013 • Approved by Governor
6/13/2013 • Chapter No. 2013-159, companion bill(s) passed, see CS/CS/CS/HB 73 (Ch. 2013-188)