Download This Bill in Microsoft Word format
Indicates Matter Stricken
Indicates New Matter
H. 3729
STATUS INFORMATION
General Bill
Sponsors: Rep. Snow
Document Path: l:\council\bills\gjk\20257sd03.doc
Introduced in the House on March 5, 2003
Currently residing in the House Committee on Labor, Commerce and Industry
Summary: Vacation timeshare units; fees charged for the resale or ownership
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
-------------------------------------------------------------------------------
3/5/2003 House Introduced and read first time HJ-11
3/5/2003 House Referred to Committee on Labor, Commerce and Industry
HJ-11
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO AMEND SECTION 27-32-55, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE FEES WHICH MAY BE CHARGED FOR THE RESALE OF OWNERSHIP INTERESTS IN VACATION TIMESHARING UNITS, SO AS TO FURTHER PROVIDE FOR THESE FEES WHICH MAY BE CHARGED.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 27-32-55 of the 1976 Code, as added by Act 35 of 2001, is amended to read:
"Section 27-32-55. No owner of an interest in a vacation timesharing unit as such the term is defined in Section 27-32-10(10) may be charged an up-front appraisal fee for the resale of his ownership interest but instead may only be charged an up-front marketing fee or and also a commission upon the resale of the unit in an amount stipulated by written agreement between the owner and his sales agent.
Any person violating the provisions of this section is deemed to have committed an unfair trade practice under Section 39-5-20 and is subject to all penalties and remedies provided by law for this violation."
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on Monday, December 7, 2009 at 10:28 A.M.