Bill > S166

This bill amends existing law to establish stricter regulations for advertisements and solicitations related to time-shares, which are defined broadly to include various ownership plans like interval ownership, vacation clubs, and membership plans. The bill mandates that any time-share promotion offering a prize, gift, award, or other inducement must clearly state on its face that it is a time-share promotion and provide detailed information about each item, including its brand name, fair market value, quantity, odds of winning, and any other details that might influence a consumer's decision. These prizes must be entirely free to the consumer, with no hidden fees or purchase requirements. If a consumer arrives at a developer's premises to claim a prize, they must be shown the actual prize won, and if the promotion requires attending a sales presentation to receive the prize, this must be clearly stated. If the prizes are not as represented or if the sales presentation requirement isn't disclosed, the consumer is entitled to receive the prizes immediately without further obligation. If a promised prize is unavailable or not given at the initial visit, the consumer must be compensated with its fair market value in cash or a certified check. The bill also grants consumers a three-business-day right to cancel a time-share contract. Time-share developers, their agents, and promotional material suppliers are held jointly and severally liable for non-compliant solicitations. The Secretary of Consumer Affairs and Business Regulation is empowered to create further regulations, including fines of up to $1,000 per violation, and any violation is considered an unfair or deceptive practice. Consumers who prevail in claims under this bill can recover damages, including the value of the prize, payments made, and potentially attorney's fees if the violation was known or should have been known. The bill also clarifies that soliciting a resident of the Commonwealth confers personal jurisdiction over time-share developers, and any waiver of these provisions is void.