721.50 Short title.—This part may be cited as the “McAllister Act” in recognition and appreciation for the years of extraordinary and insightful contributions by Mr. Bryan C. McAllister, Examinations Supervisor of the former Division of Florida Land Sales, Condominiums, and Mobile Homes. History.—s. 12, ch. 93-58; s. 33, ch. 95-274; s. 71, ch. 2008-240.
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 […]
721.52 Definitions.—As used in this chapter, the term: (1) “Applicable law” means the law of the jurisdiction where the accommodations and facilities referred to are located. (2) “Component site” means a specific geographic site where a portion of the accommodations and facilities of the multisite timeshare plan are located. If permitted under applicable law, separate phases operated as […]
721.53 Subordination instruments; alternate security arrangements.— (1) With respect to each accommodation or facility of a multisite timeshare plan, the developer shall provide the division with satisfactory evidence that one of the following has occurred with respect to each interestholder prior to offering the accommodation or facility as a part of the multisite timeshare plan: (a) The interestholder […]
721.55 Multisite timeshare plan public offering statement.—Each filed public offering statement for a multisite timeshare plan shall contain the information required by this section and shall comply with the provisions of s. 721.07, except as otherwise provided therein. The division is authorized to provide by rule the method by which a developer must provide such information […]
721.551 Delivery of multisite timeshare plan purchaser public offering statement.— (1) The division is authorized to prescribe by rule the form of the approved multisite timeshare plan public offering statement that must be furnished by a seller to each purchaser pursuant to this section. The form of the public offering statement that is furnished to purchasers must […]
721.552 Additions, substitutions, or deletions of component site accommodations or facilities; purchaser remedies for violations.—Additions, substitutions, or deletions of component site accommodations or facilities may be made only in accordance with the following: (1) ADDITIONS.— (a) The timeshare instrument must provide for: 1. The basis upon which new accommodations and facilities may be added to the multisite timeshare plan; […]
721.56 Management of multisite timeshare plans; reservation systems; demand balancing.— (1) The developer as a prerequisite for approval of his or her public offering statement filing or his or her phase filing must obtain an affidavit, or other evidence satisfactory to the director of the division, from the component site managing entity containing all of the following: […]
721.57 Offering of timeshare estates in specific multisite timeshare plans; required provisions in the timeshare instrument.— (1) In addition to meeting all the requirements of part I, timeshare estates offered in a specific multisite timeshare plan must meet the requirements of subsection (2). Any offering of timeshare estates in a specific multisite timeshare plan that does not […]
721.58 Filing fee; annual fee.— (1) The developer of the multisite timeshare plan shall pay the filing fee required by s. 721.07(4)(a); however, the maximum amount of such filing fee shall be $25,000 or the total filing fee due with respect to the timeshare units in the multisite timeshare plan that are located in this state pursuant […]
