vacation time sharing plan, including sellers and owners of such vacation time sharing plan. (21) vacation time sharing means an owner ‘Consumer reseller’ of a resale vacation time sharing interest. (22) means a person who manages a vacation ‘Managing entity’ time sharing association.” SECTION 2. Section 273255 of the 1976 Code is amended to read: 273255. An owner of an interest in a vacation time “Section sharing plan may not be charged an upfront appraisal fee for the resale of his interest but may be charged only an upfront marketing fee or commission upon the resale of the interest in an amount stipulated by written agreement between the owner and his sales agent. A person violating the provisions of this section has committed an unfair trade practice pursuant to Section 39520 and is subject to all penalties and remedies provided by law for this violation. (A) Before engaging in any vacation time sharing resale services, a resale service provider must provide a written contract to the consumer vacation time sharing reseller that includes the following: (1) The name, physical address, telephone number, and website address, if any, of the resale service provider and any other agent or third party who will provide any of the vacation time sharing resale services on behalf of the resale service provider. (2) The name, physical address, telephone number, and email address of the escrow agent, if applicable, that will be used to hold funds or other property pursuant to this section. (3) A complete description of the vacation time sharing resale services. (4) The duration of the contract for vacation time sharing resale services expressed in days, weeks, months or years. (5) A description of any fees, costs, or other consideration to be paid to the resale service provider or any other agent or third party, including marketing and advertising fees or commissions that are paid upon the sale of a resale vacation time sharing interest. (6) A statement, if applicable, that the resale service provider will deliver to the consumer vacation time sharing reseller all documentation evidencing the transfer of legal ownership of the resale vacation time sharing interest as provided in subsection (B). (7) The website addresses and telephone numbers for both the Department of Consumer Affairs and the commission.
vacation time sharing plan, including sellers and owners of such vacation time sharing plan. (21) ‘Consumer vacation time sharing reseller’ means an owner of a resale vacation time sharing interest. (22) ‘Managing entity’ means a person who manages a vacation time sharing association.” SECTION 2. Section 273255 of the 1976 Code is amended to read: “Section 273255. An owner of an interest in a vacation time sharing plan may not be charged an upfront appraisal fee for the resale of his interest but may be charged only an upfront marketing fee or commission upon the resale of the interest in an amount stipulated by written agreement between the owner and his sales agent. A person violating the provisions of this section has committed an unfair trade practice pursuant to Section 39520 and is subject to all penalties and remedies provided by law for this violation. (A) Before engaging in any vacation time sharing resale services, a resale service provider must provide a written contract to the consumer vacation time sharing reseller that includes the following: (1) The name, physical address, telephone number, and website address, if any, of the resale service provider and any other agent or third party who will provide any of the vacation time sharing resale services on behalf of the resale service provider. (2) The name, physical address, telephone number, and email address of the escrow agent, if applicable, that will be used to hold funds or other property pursuant to this section. (3) A complete description of the vacation time sharing resale services. (4) The duration of the contract for vacation time sharing resale services expressed in days, weeks, months or years. (5) A description of any fees, costs, or other consideration to be paid to the resale service provider or any other agent or third party, including marketing and advertising fees or commissions that are paid upon the sale of a resale vacation time sharing interest. (6) A statement, if applicable, that the resale service provider will deliver to the consumer vacation time sharing reseller all documentation evidencing the transfer of legal ownership of the resale vacation time sharing interest as provided in subsection (B). (7) The website addresses and telephone numbers for both the Department of Consumer Affairs and the commission.
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