summary
Introduced
01/22/2019
01/22/2019
In Committee
07/09/2020
07/09/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
For legislation to modernize time-share extension and termination procedures. The Judiciary.
AI Summary
This bill aims to modernize the procedures for extending and terminating time-share plans in Massachusetts. It allows for the termination of time-share plans by written agreement of at least 60% of the time-share owners, and outlines the process for such termination, including the establishment of a termination trust to oversee the sale of the property and distribution of proceeds to the former owners. The bill also allows for the extension of time-share plans that are scheduled to expire, again with the written consent of at least 60% of the owners. The provisions of this bill would apply to all time-share plans in the Commonwealth, both existing and future.
Committee Categories
Budget and Finance, Justice
Sponsors (1)
Last Action
Bill reported favorably by committee and referred to the committee on Senate Ways and Means (on 07/09/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/S952 |
| Bill | https://malegislature.gov/Bills/191/S952.pdf |
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