Bill > H3351

This bill amends South Carolina law regarding timeshare contracts by extending the cancellation period for purchasers from five to ten days. Specifically, the bill modifies Section 27-32-40 to update the mandatory contract language, allowing consumers to cancel a timeshare contract without penalty within ten days after signing the contract (not counting Sundays). The cancellation can occur either ten days after signing or after receiving the required disclosure statement, whichever comes later. Purchasers must notify the seller in writing via certified mail or another verifiable means. The bill also maintains the existing provision for vacation time sharing lease plans, which allows cancellation if the promised accommodations or comparable facilities become unavailable. The amendment aims to provide consumers with more flexibility and protection when purchasing timeshare properties by giving them additional time to review and potentially withdraw from the contract. The bill will take effect upon approval by the Governor of South Carolina.

Business and Industry

https://www.scstatehouse.gov/billsearch.php?billnumbers=3351&session=126&summary=B