9324724, 61B-39.003 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 9324724

Notice of Proposed Rule

Department:

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION

Division:

Division of Florida Condominiums, Timeshares and Mobile Homes

Chapter:

FILING REQUIREMENTS FOR PUBLIC OFFERING STATEMENTS

Overview

RULE:

61B-39.003

Filing of Single-Site Timeshare Plans

PURPOSE:

Implement changes required by Chapter 2010-134, Laws of Florida, requiring lien disclosure information in all new timeshare public offering statements filed with the division which are not multisite timeshare plans.

SUMMARY:

is rule amendment provides the location where the lien disclosure information must appear in the public offering statement. It also provides for circumstances where the division has already approved the disclosure in another location in the POS and where the managing entity does not intend to implement the use of the trustee foreclosure procedure.
Other rules incorporating this rule: This rule is referenced in Rules 61B-39.002, 61B-39.004, 61B-39.005, 61B-39.006, 61B-39.008 and 61B-41.003, F.A.C.
Effect on Other Rules: The amendments to this rule will not affect Rule 61B-39.002, 61B-39.006 or 61B-39.008. Compliance with paragraphs 61B-39.004(1)(a) and 61B-39.005(2)(h), F.A.C., will now require the new elements of the POS added by this amendment to Rule 61B-39.003, F.A.C.

RULEMAKING AUTHORITY:

721.07(5), 721.26(6) FS.

LAW:

721.05, 721.06(1), 721.07(5), (6), 721.52(4), (5) FS.

PRINT PUBLISH DATE:

11/5/2010 Vol. 36/44

COMMENTS:

From 11/5/2010 To 11/26/2010 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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