Florida Senate - 2022 SB 1216 By Senator Hutson 7-00569-22 20221216__ 1 A bill to be entitled 2 An act relating to vacation and timeshare plans; 3 amending s. 721.03, F.S.; exempting certain timeshare 4 plans from specified requirements relating to the 5 creation of a timeshare estate in a nonresidential 6 condominium unit under certain circumstances; amending 7 s. 721.07, F.S.; authorizing developers to provide 8 purchasers with the option to receive the approved 9 public offering statement and other information 10 electronically under certain circumstances; 11 authorizing the Division of Florida Condominiums, 12 Timeshares, and Mobile Homes to prescribe by rule a 13 specified form; providing requirements for such form; 14 making technical changes; amending s. 721.075, F.S.; 15 specifying that the payment for certain incidental 16 benefits is voluntary; removing a limitation on the 17 aggregate represented value of all incidental 18 benefits; removing the requirement that incidental 19 benefits be filed with the division for review; 20 prohibiting the transfer or assignment of an 21 incidental benefit without the approval of the 22 benefits provider; revising the acknowledgment a 23 purchaser must sign relating to incidental benefits; 24 removing the requirement that the acknowledgment and 25 disclosure statement be filed with the division before 26 use; removing the requirement that a developer notify 27 the division upon learning that an incidental benefit 28 is unavailable; requiring a substituted incidental 29 benefit to be made available, rather than delivered, 30 to a purchaser within a specified time; making 31 technical changes; amending s. 721.10, F.S.; 32 prohibiting any attempt to obtain a waiver of the 33 purchasers right of cancellation; providing that a 34 closing is voidable under certain circumstances and 35 within specified timeframes; making technical changes; 36 amending s. 721.11, F.S.; revising the definition of 37 the term advertising material; exempting advertising 38 material from certain disclosures under certain 39 circumstances; conforming cross-references and making 40 technical changes; amending s. 721.125, F.S.; 41 providing legislative findings; providing that the 42 board of administration of the owners association 43 serves as the termination trustee for purposes of 44 implementing the termination of a timeshare plan; 45 providing an exception; requiring the termination 46 trustee to act in a fiduciary capacity; requiring 47 certain unpaid amounts to be set off against the net 48 proceeds from the disposition of the timeshare 49 property; authorizing the termination trustee to bring 50 an interpleader action in certain circumstances and 51 deposit any disputed funds into the court registry; 52 authorizing attorney fees and costs; revising 53 applicability; making technical changes; amending s. 54 721.13, F.S.; prohibiting a managing entity from 55 sending certain notices to the address of an owners 56 timeshare unit or timeshare plan; authorizing certain 57 meetings to be conducted electronically; creating s. 58 721.131, F.S.; authorizing a managing entity to 59 exercise specified powers before, during, or after an 60 actual or anticipated emergency in certain 61 circumstances and for certain purposes; amending s. 62 721.52, F.S.; revising the definition of the term 63 nonspecific multisite timeshare plan; making 64 technical changes; amending s. 721.55, F.S.; 65 authorizing component site information to be provided 66 to purchasers electronically; providing that a 67 developer is not required to file a separate public 68 offering statement for certain component sites; making 69 technical changes; amending s. 721.551, F.S.; 70 conforming a cross-reference and making technical 71 changes; amending s. 721.82, F.S.; revising the 72 definition of the term permitted delivery service; 73 amending s. 721.85, F.S.; conforming a provision to 74 changes made by the act; amending ss. 721.855 and 75 721.856, F.S.; revising an obligors right to object 76 to the trustee foreclosure procedure; revising 77 available methods of delivery of certain notices and 78 certificates of sale; revising when certain notices 79 are considered perfected against a trustee; making 80 technical changes; conforming provisions to changes 81 made by the act; amending s. 721.86, F.S.; providing 82 that certain efforts to resolve a foreclosure are not 83 required under certain circumstances; reenacting ss. 84 721.09(1)(d) and 721.111(6), F.S., relating to 85 reservation agreements and escrows and prize and gift 86 promotional offers, respectively, to incorporate the 87 amendments made by this act to s. 721.11, F.S., in 88 references thereto; providing an effective date. 89 90 Be It Enacted by the Legislature of the State of Florida: 91 92 Section 1.Paragraph (f) is added to subsection (3) of 93 section 721.03, Florida Statutes, to read: 94 721.03Scope of chapter. 95 (3)A timeshare plan which is subject to the provisions of 96 chapter 718 or chapter 719, if fully in compliance with the 97 provisions of this chapter, is exempt from the following: 98 (f)Sections 718.104(4)(o), 718.1045, and 718.110(8), 99 relating to the creation of timeshare estates in a 100 nonresidential condominium unit. 101 Section 2.Subsection (6) of section 721.07, Florida 102 Statutes, is amended to read: 103 721.07Public offering statement.Prior to offering any 104 timeshare plan, the developer must submit a filed public 105 offering statement to the division for approval as prescribed by 106 s. 721.03, s. 721.55, or this section. Until the division 107 approves such filing, any contract regarding the sale of that 108 timeshare plan is subject to cancellation by the purchaser 109 pursuant to s. 721.10. 110 (6)(a)A developer may provide each purchaser with the 111 option to receive all or any portion of the approved public 112 offering statement electronically, including, but not limited 113 to, through a website or other Internet-based access, if the 114 developer discloses to the purchaser the system requirements 115 necessary to view the approved public offering statement. 116 (b)The division is authorized to prescribe by rule the 117 form of the approved purchaser public offering statement that 118 must be furnished by the developer to each purchaser and the 119 form on which a purchaser must select the manner in which he or 120 she wants the approved purchaser public offering statement 121 delivered. The form of the purchaser public offering statement 122 must provide fair, meaningful, and effective disclosure of all 123 aspects of the timeshare plan. The purchaser manner of delivery 124 form must disclose the system requirements necessary to view the 125 approved public offering statement electronically and advise the 126 purchaser to not select an alternative method of receiving the 127 approved public offering statement unless he or she is able to 128 review the approved public offering statement before the 129 expiration of the 10-day cancellation period under s. 721.10. 130 (c)For timeshare plans filed under pursuant to this part, 131 the developer shall furnish each purchaser with the following, 132 which may be provided electronically, including, but not limited 133 to, through a website or other Internet-based access: 134 1.(a)A copy of the purchaser public offering statement and 135 a copy of the purchaser manner of delivery form text in the form 136 approved by the division for delivery to purchasers. 137 2.(b)Copies of the exhibits required to be filed with the 138 division under pursuant to subparagraphs (5)(ff)1., 2., 4., 5., 139 8., and 20. 140 3.(c)A receipt for timeshare plan documents and a list 141 describing any exhibit to the filed public offering statement 142 filed with the division which is not delivered to the purchaser. 143 The division is authorized to prescribe by rule the form of the 144 receipt for timeshare plan documents and the description of 145 exhibits list that must be furnished to the purchaser. The 146 description of documents list utilized by a developer must shall 147 be filed with the division for review as part of the filed 148 public offering statement under pursuant to this section. The 149 developer is shall be required to provide the managing entity 150 with a copy of the approved filed public offering statement and 151 any approved amendments thereto to be maintained by the managing 152 entity as part of the books and records of the timeshare plan 153 under pursuant to s. 721.13(3)(d). 154 4.(d)Any other exhibit that which the developer includes 155 as part of the purchaser public offering statement, provided 156 that the developer first files the exhibit with the division. 157 5.(e)An executed copy of any document that which the 158 purchaser signs. 159 6.(f)Each purchaser shall receive A fully executed paper 160 copy of the purchase contract. 161 Section 3.Section 721.075, Florida Statutes, is amended to 162 read: 163 721.075Incidental benefits.Incidental benefits may shall 164 be offered only as provided in this section. 165 (1)Accommodations, facilities, products, services, 166 discounts, or other benefits which satisfy the requirements of 167 this subsection are shall be subject to the provisions of this 168 section and exempt from the other provisions of this chapter 169 which would otherwise apply to such accommodations or facilities 170 if and only if: 171 (a)The use of, or participation in, and payment for the 172 incidental benefit by the prospective purchaser is completely 173 voluntary, and payment of any fee or other cost associated with 174 the incidental benefit is required only upon such use or 175 participation. 176 (b)The No costs of acquisition, operation, maintenance, or 177 repair of the incidental benefit may not be are passed on to 178 purchasers of the timeshare plan as common expenses of the 179 timeshare plan or as common expenses of a component site of a 180 multisite timeshare plan. 181 (c)The continued availability of the incidental benefit is 182 not necessary in order for any accommodation or facility of the 183 timeshare plan to be available for use by purchasers of the 184 timeshare plan in a manner consistent in all material respects 185 with the manner portrayed by any promotional material, 186 advertising, or purchaser public offering statement. 187 (d)The continued availability to purchasers of timeshare 188 plan accommodations on no greater than a one-to-one use right to 189 use night requirement ratio is not dependent upon continued 190 availability of the incidental benefit. 191 (e)The incidental benefit will continue to be available in 192 the manner represented to prospective purchasers for up to 3 193 years or less after the first date that the timeshare plan is 194 available for use by the purchaser. Nothing herein prevents 195 shall prevent the renewal or extension of the availability of an 196 incidental benefit. 197 (f)The aggregate represented value of all incidental 198 benefits offered by a developer to a purchaser may not exceed 15 199 percent of the purchase price paid by the purchaser for his or 200 her timeshare interest. 201 (g)The incidental benefit is filed with the division for 202 review in conjunction with the filing of a timeshare plan or in 203 connection with a previously filed timeshare plan. 204 (2)Each purchaser shall execute a separate acknowledgment 205 and disclosure statement with respect to all incidental 206 benefits, which statement must shall include the following 207 information: 208 (a)A fair description of the incidental benefit, 209 including, but not limited to, any user fees or costs associated 210 therewith and any restrictions upon use or availability. 211 (b)A statement that use of, or participation in, and 212 payment for the incidental benefit by the prospective purchaser 213 is completely voluntary, and that payment of any fee or other 214 cost associated with the incidental benefit is required only 215 upon such use or participation. 216 (c)A statement that the incidental benefit is not 217 assignable or otherwise transferable by the prospective 218 purchaser or purchaser without the approval of the provider of 219 the incidental benefit. 220 (d)The following disclosure in conspicuous type 221 immediately above the space for the purchasers signature: 222 223 The incidental benefit[s] described in this statement is 224 [are] offered to prospective purchasers of the timeshare plan 225 [or other permitted reference under pursuant to s. 226 721.11(5)(a)]. This [These] benefit[s] is [are] available for 227 your use for [some period up to 3 years or less] after the first 228 date that the timeshare plan is available for your use. The 229 availability of the incidental benefit[s] may or may not be 230 renewed or extended. You should not purchase an interest in the 231 timeshare plan in reliance upon the continued availability or 232 renewal or extension of this [these] benefit[s]. 233 (e)A statement indicating the source of the services, 234 points, or other products that constitute the incidental 235 benefit. 236 237 The acknowledgment and disclosure statement for any incidental 238 benefit shall be filed with the division prior to use. Each 239 purchaser must shall receive a copy of his or her executed 240 acknowledgment and disclosure statement as a document required 241 to be provided to him or her under pursuant to s. 721.10(1)(b). 242 (3)(a)In the event that an incidental benefit becomes 243 unavailable to purchasers in the manner represented by the 244 developer in the acknowledgment and disclosure statement, the 245 developer shall pay the purchaser the greater of twice the 246 verifiable retail value or twice the represented value of the 247 unavailable incidental benefit in cash within 30 days after of 248 the date that the unavailability of the incidental benefit was 249 made known to the developer, unless the developer has reserved a 250 substitution right under pursuant to paragraph (b) and timely 251 makes the substitution as required by paragraph (b). The 252 developer shall promptly notify the division upon learning of 253 the unavailability of any incidental benefit. 254 (b)If an incidental benefit becomes unavailable as a 255 result of events beyond the control of the developer, the 256 developer may reserve the right to substitute a replacement 257 incidental benefit of a type, quality, value, and term 258 reasonably similar to the unavailable incidental benefit. If the 259 developer reserves the right to substitute, the acknowledgment 260 and disclosure statement required under pursuant to paragraph 261 (2)(a) must shall contain the following conspicuous disclosure: 262 263 In the event any incidental benefit described in this 264 statement becomes unavailable as a result of events beyond the 265 control of the developer, the developer reserves the right to 266 substitute a replacement incidental benefit of a type, quality, 267 value, and term reasonably similar to the unavailable incidental 268 benefit. 269 270 The substituted incidental benefit must shall be made available 271 delivered to the purchaser within 30 days after the date that 272 the unavailability of the incidental benefit was made known to 273 the developer. 274 (4)All purchaser remedies under pursuant to s. 721.21 are 275 shall be available for any violation of the provisions of this 276 section. 277 Section 4.Present subsections (2) and (3) of section 278 721.10, Florida Statutes, are redesignated as subsections (3) 279 and (4), respectively, a new subsection (2) is added to that 280 section, and subsection (1) of that section is amended, to read: 281 721.10Cancellation. 282 (1)A purchaser has the right to cancel the contract until 283 midnight on of the 10th calendar day after the later of 284 following whichever of the following days occurs later: 285 (a)The execution date of the contract; or 286 (b)The day on which the purchaser received the last of all 287 documents required to be provided to him or her, including the 288 notice required by s. 721.07(2)(d)2., if applicable. 289 (2)This right of cancellation may not be waived by any 290 purchaser or by any other person on behalf of the purchaser, and 291 any attempt to obtain a waiver of the cancellation right of the 292 purchaser is unlawful. If a purchaser waives, knowingly or 293 unknowingly, his or her right of cancellation and a closing 294 occurs, such closing is voidable at the option of the purchaser 295 for up to 1 year after the date that would have been the 296 expiration of the cancellation period under subsection (1). 297 Furthermore, a no closing may not occur until the cancellation 298 period of the timeshare purchaser has expired, and if a closing 299 occurs before the expiration of the cancellation period,. Any 300 attempt to obtain a waiver of the cancellation right of the 301 timeshare purchaser, or to hold a closing prior to the 302 expiration of the cancellation period, is unlawful and such 303 closing is voidable at the option of the purchaser for up to 5 304 years after such closing a period of 1 year after the expiration 305 of the cancellation period. However, nothing in this section 306 precludes the execution of documents in advance of closing for 307 delivery after expiration of the cancellation period. 308 Section 5.Paragraphs (b) and (e) of subsection (6) of 309 section 721.11, Florida Statutes, are amended, and paragraph (i) 310 is added to subsection (2) of that section, to read: 311 721.11Advertising materials; oral statements. 312 (2)The term advertising material includes: 313 (i)Any message, text, picture, video, or other content 314 made available, delivered, or shared electronically through the 315 Internet or any other Internet-based access. However, 316 advertising material under this paragraph does not need to 317 contain the disclosures required under subsection (5) as long as 318 such disclosures are provided to the purchaser before the 319 purchaser takes any affirmative action pursuant to a promotion. 320 (6)Failure to provide cancellation rights or disclosures 321 as required by this subsection in connection with the sale of a 322 regulated short-term product constitutes misrepresentation in 323 accordance with paragraph (4)(a). Any agreement relating to the 324 sale of a regulated short-term product must be regulated as 325 advertising material and is subject to the following: 326 (b)A purchaser of a regulated short-term product has the 327 right to cancel the agreement until midnight of the 10th 328 calendar day after following the execution date of the 329 agreement. The right of cancellation may not be waived by the 330 prospective purchaser or by any other person on behalf of the 331 prospective purchaser. Notice of cancellation must be given in 332 the same manner prescribed for giving notice of cancellation 333 under s. 721.10(3) s. 721.10(2). If the prospective purchaser 334 gives a valid notice of cancellation or is otherwise entitled to 335 cancel the sale, the funds or other property received from or on 336 behalf of the prospective purchaser, or the proceeds thereof, 337 must be returned to the prospective purchaser. Such refund must 338 be made in the same manner prescribed for refunds under s. 339 721.10. 340 (e)If the seller provides the purchaser with the right to 341 cancel the purchase of a regulated short-term product at any 342 time up to 7 days before prior to the purchasers reserved use 343 of the accommodations, but in no event less than 10 days, and if 344 the seller refunds the total amount of all payments made by the 345 purchaser reduced by the proportion of any benefits the 346 purchaser has actually received before prior to the effective 347 date of the cancellation, the specific value of which has been 348 agreed to between the purchaser and the seller, the short-term 349 product offer is shall be exempt from the requirements of 350 paragraphs (b), (c), and (d). An agreement relating to the sale 351 of the regulated short-term product made pursuant to this 352 paragraph must contain a statement setting forth the 353 cancellation and refund rights of the prospective purchaser in a 354 manner that is consistent with this section and s. 721.10, 355 including a description of the length of the cancellation right, 356 a statement that the purchasers intent to cancel must be in 357 writing and sent to the seller at a specified address, a 358 statement that the notice of cancellation is effective upon the 359 date sent, and a statement that any attempt to waive the 360 cancellation right is unlawful. The right of cancellation 361 provided to the purchaser under pursuant to this paragraph may 362 not be waived by the prospective purchaser or by any other 363 person on behalf of the prospective purchaser. Notice of 364 cancellation must be given in the same manner prescribed for 365 giving notice of cancellation under s. 721.10(3) pursuant to s. 366 721.10(2). If the prospective purchaser gives a valid notice of 367 cancellation, or is otherwise entitled to cancel the sale, the 368 funds or other property received from or on behalf of the 369 prospective purchaser, or the proceeds thereof, shall be 370 returned to the prospective purchaser. Such refund shall be made 371 in the manner prescribed for refunds under s. 721.10. 372 Section 6.Section 721.125, Florida Statutes, is amended to 373 read: 374 721.125Termination of timeshare plans. 375 (1)The Legislature finds that the continued enforcement of 376 timeshare plan covenants that encumber the land and restrict the 377 use of real property may create economic waste and areas of 378 disrepair that threaten the safety and welfare of the owners or 379 the public or cause obsolescence of the property for its 380 intended use. It is the public policy of the state to provide a 381 method to preserve the value of the property interests and the 382 rights of alienation thereof that owners have in the timeshare 383 property before and after termination of a timeshare plan. 384 Accordingly unless the timeshare instrument provides otherwise, 385 the vote or written consent, or both, of 60 percent, unless the 386 timeshare instrument provides for a lower percentage, of all 387 voting interests in a timeshare plan may terminate the term of 388 the timeshare plan at any time. If a timeshare plan is 389 terminated under pursuant to this section, the termination has 390 immediate effect pursuant to applicable law and the timeshare 391 instrument as if the effective date of the termination were the 392 original date of termination. 393 (2)The board of administration of the owners association 394 shall serve as termination trustee for the purpose of 395 implementing the termination of the timeshare plan, unless 396 another person is appointed as the termination trustee during 397 the vote or in the written consent, or both, under subsection 398 (1) or by the court. The termination trustee shall act in a 399 fiduciary capacity to the owners of timeshare interests in a 400 timeshare plan. 401 (3)If a termination vote or the written consent under 402 pursuant to subsection (1) is proposed for a component site of a 403 multisite timeshare plan located in the this state, the proposed 404 termination is effective only if the person authorized to make 405 additions or substitutions of accommodations and facilities 406 pursuant to the timeshare instrument also approves the 407 termination. 408 (4)(a)(3)(a)If the timeshare property is managed by an 409 owners association that is separate from any underlying 410 condominium, cooperative, or homeowners association, the 411 termination of a timeshare plan does not change the corporate 412 status of the owners association. The owners association may 413 continue continues to exist only for the purposes of concluding 414 its affairs, prosecuting and defending actions by or against it, 415 collecting and discharging obligations, disposing of and 416 conveying its property, collecting and dividing its assets, and 417 otherwise complying with this subsection. 418 1.After termination of a timeshare plan, the board of 419 administration of the owners association shall serve as the 420 termination trustee, and in such fiduciary capacity may bring an 421 action in partition on behalf of the tenants in common in each 422 former timeshare property or sell the former timeshare property 423 in any manner and to any person who is approved by a majority of 424 all such tenants in common. The termination trustee also has all 425 other powers reasonably necessary to effect the partition or 426 sale of the former timeshare property, including the power to 427 maintain the property during the pendency of any partition 428 action or sale. 429 2.All reasonable expenses incurred by the termination 430 trustee relating to the performance of its duties pursuant to 431 this subsection, including the reasonable fees of attorneys and 432 other professionals, must be paid by the tenants in common of 433 the former timeshare property subject to partition or sale, 434 proportionate to their respective ownership interests. 435 3.The termination trustee shall adopt reasonable 436 procedures to implement the partition or sale of the former 437 timeshare property and comply with the requirements of this 438 subsection. 439 (b)If a timeshare plan is terminated in a timeshare 440 condominium or timeshare cooperative and the underlying 441 condominium or cooperative is not simultaneously terminated, a 442 majority of the tenants in common in each former timeshare unit 443 present and voting in person or by proxy at a meeting of such 444 tenants in common conducted by the termination trustee, or 445 conducted by the board of administration of the condominium or 446 cooperative association, if such association managed the former 447 timeshare property, shall designate a voting representative for 448 the unit and file a voting certificate with the condominium or 449 cooperative association. The voting representative may vote on 450 all matters at meetings of the condominium or cooperative 451 association, including termination of the condominium or 452 cooperative. 453 (c)After termination of a timeshare plan, the termination 454 trustee may bring an action in partition on behalf of the 455 tenants in common in each former timeshare property or may sell 456 the former timeshare property in any manner and to any person 457 who is approved by a majority of all such tenants in common or 458 by the voting representative, as applicable. The termination 459 trustee shall have all other powers reasonably necessary to 460 effect the partition or sale of the former timeshare property, 461 including the power to maintain the property during the pendency 462 of any partition action or sale. 463 (d)All reasonable expenses incurred by the termination 464 trustee relating to the performance of his or her duties under 465 this subsection, including reasonable attorney fees or fees for 466 other professionals, must be paid by the tenants in common of 467 the former timeshare property subject to partition or sale, 468 proportionate to their respective ownership interests. 469 (e)The termination trustee shall adopt reasonable 470 procedures to implement the partition or sale of the former 471 timeshare property and to comply with the requirements of this 472 subsection. 473 (f)Any unpaid assessments, taxes, late fees, interest, 474 fines, charges, or other amounts due and owing to the managing 475 entity by an owner of a timeshare interest must be set off 476 against, and reduce the share of, the net proceeds from the 477 disposition of the timeshare property that are allocated to such 478 owner. 479 (g)If an owner of a timeshare interest or any other person 480 claiming an interest in such owners allocated share of the net 481 proceeds from the disposition of the timeshare property disputes 482 the distribution of such proceeds, the termination trustee may 483 file an interpleader action in circuit court and deposit the 484 disputed funds into the court registry, at which time the 485 timeshare property and the proceeds distributed pursuant to a 486 disposition of the timeshare property are free of all claims and 487 liens of the parties to the interpleader action. If the 488 termination trustee files an interpleader action, both the 489 termination trustee and the prevailing party may recover 490 reasonable attorney fees and costs from the nonprevailing party. 491 (5)(4)This section applies only to all a timeshare plans 492 in the state that exist on or after July 1, 2022, provided that 493 the timeshare plan has existed that has been in existence for at 494 least 25 years as of the effective date of the termination of 495 the timeshare plan vote or consent required by subsection (1). 496 Section 7.Subsection (14) is added to section 721.13, 497 Florida Statutes, to read: 498 721.13Management. 499 (14)Notwithstanding any provision of chapter 718 or 500 chapter 719 to the contrary: 501 (a)A managing entity may not send notices that are 502 required to be delivered to an owner of a timeshare interest 503 pursuant to chapter 718, chapter 719, or this chapter to the 504 address of the owners timeshare unit or the address of the 505 owners timeshare plan. 506 (b)The board of administration or the members of an 507 owners association may conduct board meetings or owners 508 meetings electronically and without the need for the meeting to 509 be held at a physical location. 510 Section 8.Section 721.131, Florida Statutes, is created to 511 read: 512 721.131Managing entity emergency powers. 513 (1)Notwithstanding any provision to the contrary in 514 chapter 718, chapter 719, or the timeshare instrument, to the 515 extent allowed by law and consistent with s. 617.0830, a 516 managing entity, including a board of administration of an 517 owners association, in response to an actual or anticipated 518 emergency as defined in s. 252.34(4), including, but not limited 519 to, a state of emergency declared by the Governor pursuant to s. 520 252.36, in the locale in which the accommodations or facilities 521 of a timeshare plan are located, may exercise the following 522 powers: 523 (a)Conduct board of administration meetings and owners 524 meetings, in whole or in part, by telephone, real-time 525 videoconferencing, or similar real-time electronic or video 526 communication with notice given as is practicable. Such notice 527 may be given in any practicable manner, including publication, 528 radio, United States mail, the Internet, electronic 529 transmission, public service announcements, and conspicuous 530 posting on the timeshare property or by any other means the 531 managing entity deems reasonable under the circumstances. Notice 532 of decisions of the managing entity may also be communicated as 533 provided in this paragraph. 534 (b)Cancel and reschedule any board of administration 535 meetings or owners meetings. 536 (c)Name as assistant officers persons who are not 537 directors of the owners association. Assistant officers have 538 the same authority as the executive officers they are assisting 539 during the state of emergency to accommodate the incapacity or 540 unavailability of any officer of the owners association. 541 (d)Relocate the managing entitys principal office or 542 designate alternative principal offices. 543 (e)Enter into agreements with counties and municipalities 544 to assist with emergency matters. 545 (f)Implement an emergency plan that may include, but is 546 not limited to, shutting down or off elevators; electricity; 547 water, sewer, or security systems; or air conditioners. 548 (g)Determine that all or any portion of the timeshare 549 property is unavailable for entry, use, or occupancy by the 550 owners or the owners family members, tenants, guests, agents, 551 invitees, exchangers, or other occupants of the timeshare 552 property to protect the health, safety, or welfare of such 553 persons or to protect the accommodations or facilities of the 554 timeshare plan. 555 (h)Require the evacuation of the timeshare property. If 556 any owner or other occupant fails or refuses to evacuate the 557 timeshare property after the managing entity has required 558 evacuation, the managing entity is immune from liability or 559 injury to persons or property arising from such failure or 560 refusal. 561 (i)Determine whether all or a portion of the timeshare 562 property, including recreational and other accommodations or 563 facilities, may be safely used, inhabited, or occupied, and 564 whether all or a portion of such property needs to be closed for 565 a period of time. However, such determination is not conclusive 566 as to any determination of habitability pursuant to the 567 timeshare instrument. 568 (j)Mitigate further damage, including taking action to 569 contract for the removal of debris and to prevent or mitigate 570 the spread of fungus, including, but not limited to, mold or 571 mildew, by removing and disposing of wet drywall, insulation, 572 carpet, cabinetry, or other fixtures on or within the timeshare 573 property. 574 (k)Contract, on behalf of any owner or owners, for items 575 or services for which the owners are otherwise individually 576 responsible, but which are necessary as a result of the 577 emergency. In such event, the owner or owners on whose behalf 578 the managing entity has contracted are responsible for 579 reimbursing the managing entity for the actual costs of the 580 items or services, and the managing entity may use its lien 581 authority provided under s. 721.16 to enforce collection of the 582 costs. 583 (l)Regardless of any provision to the contrary and even if 584 such authority does not specifically appear in the timeshare 585 instrument, levy special assessments without a vote of the 586 owners. 587 (m)Without a vote of the owners, borrow money and pledge 588 managing entity assets as collateral to fund emergency actions 589 or repairs and carry out the duties of the managing entity when 590 operating funds are insufficient. This paragraph does not limit 591 the general authority of the managing entity to borrow money, 592 subject to such restrictions as are contained in the timeshare 593 instrument. 594 (n)Issue emergency rules and regulations, or temporarily 595 modify existing rules and regulations, regarding the operation 596 of the timeshare plan reservation system as required under s. 597 721.13(3)(g) and (12)(a) or the multisite timeshare plan 598 reservation system as required under s. 721.56(6). This 599 authority includes issuing or modifying emergency rules and 600 regulations to add, modify, or suspend use rights to address the 601 loss of or restricted use of purchasers timeshare interests as 602 a result of the emergency or to comply with federal, state, or 603 local orders. For this limited purpose, enforcement of the one 604 to-one use right to use night requirement ratio as defined in s. 605 721.05(25) may be suspended, and any subsequent imbalance with 606 respect to the one-to-one use right to use night requirement 607 ratio that results because of the implementation of an emergency 608 rule or regulation is not a violation of this chapter. 609 (o)Notwithstanding s. 721.13(3)(c)2., transfer funds in 610 any deferred maintenance or capital expenditure reserve account 611 to any operating account without the consent of a majority of 612 the purchasers of the timeshare plan. 613 (p)Take any other actions reasonably necessary to protect 614 the health, safety, and welfare of the managing entity and the 615 owners and the owners family members, tenants, guests, agents, 616 invitees, exchangers, and other occupants or to protect the 617 timeshare property. 618 (2)The special powers authorized under subsection (1) may 619 be exercised before, during, or after the actual or anticipated 620 emergency but are limited to the time and scope reasonably 621 necessary to: 622 (a)Protect the health, safety, and welfare of the managing 623 entity and the owners and the owners family members, tenants, 624 guests, agents, invitees, exchangers, and other occupants. 625 (b)Protect the timeshare property. 626 (c)Mitigate or avoid harm, injury, or damage to persons or 627 property. 628 (d)Take emergency actions or make emergency repairs. 629 Section 9.Subsection (5) of section 721.52, Florida 630 Statutes, is amended to read: 631 721.52Definitions.As used in this chapter, the term: 632 (5)Nonspecific multisite timeshare plan means a 633 multisite timeshare plan with respect to which a purchaser 634 receives a right to use all of the accommodations and 635 facilities, if any, of the multisite timeshare plan through the 636 reservation system, but no specific right to use any particular 637 accommodations and facilities for the remaining term of the 638 multisite timeshare plan in the event that the reservation 639 system is terminated for any reason before prior to the 640 expiration of the term of the multisite timeshare plan. 641 Timeshare estates or timeshare licenses may be offered in a 642 nonspecific multisite timeshare plan. 643 Section 10.Paragraph (l) of subsection (4) and paragraph 644 (l) of subsection (7) of section 721.55, Florida Statutes, are 645 amended to read: 646 721.55Multisite timeshare plan public offering statement. 647 Each filed public offering statement for a multisite timeshare 648 plan shall contain the information required by this section and 649 shall comply with the provisions of s. 721.07, except as 650 otherwise provided therein. The division is authorized to 651 provide by rule the method by which a developer must provide 652 such information to the division. Each multisite timeshare plan 653 filed public offering statement shall contain the following 654 information and disclosures: 655 (4)A text, which shall include, where applicable, the 656 information and disclosures set forth in paragraphs (a)-(l). 657 (l)A description of each component site, which description 658 may be disclosed in a written, graphic, tabular, or other form 659 approved by the division or provided to the purchaser 660 electronically, including, but not limited to, through a website 661 or other Internet-based access. The description of each 662 component site must shall include all of the following 663 information: 664 1.The name and address of each component site. 665 2.The number of accommodations, timeshare interests, and 666 timeshare periods, expressed in periods of 7-day use 667 availability, committed to the multisite timeshare plan and 668 available for use by purchasers. 669 3.Each type of accommodation in terms of the number of 670 bedrooms, bathrooms, sleeping capacity, and whether or not the 671 accommodation contains a full kitchen. As used in For purposes 672 of this subparagraph description, the term full kitchen means 673 a full kitchen shall mean a kitchen with at least having a 674 minimum of a dishwasher, range, sink, oven, and refrigerator. 675 4.A description of facilities available for use by the 676 purchaser at each component site, including the following: 677 a.The intended use of the facility, if not apparent from 678 the description. 679 b.Any user fees associated with a purchasers use of the 680 facility. 681 5.A cross-reference to the location in the public offering 682 statement of the description of any priority reservation 683 features which may affect a purchasers ability to obtain a 684 reservation in the component site. 685 (7)The following documents shall be included as exhibits 686 to the filed public offering statement, if applicable: 687 (l)1.If the multisite timeshare plan contains any 688 component sites located in the this state, the information 689 required by s. 721.07(5) pertaining to each such component site, 690 unless exempt under pursuant to s. 721.03. 691 2.If the purchaser will receive an interest in a specific 692 multisite timeshare plan component site located outside of the 693 this state but which is offered in the this state, the 694 information required by s. 721.07(5) pertaining to that 695 component site., provided, However, for purposes of this 696 paragraph, that the provisions of s. 721.07(5)(t) shall only 697 requires require disclosure of information related to the 698 estimated budget for the timeshare plan and purchasers expenses 699 as required by the jurisdiction in which the component site is 700 located. 701 702 A developer is not required to file a separate public offering 703 statement for any component site located within or outside the 704 state in order to include the component site in the multistate 705 timeshare plan. 706 Section 11.Paragraph (c) of subsection (2) of section 707 721.551, Florida Statutes, is amended to read: 708 721.551Delivery of multisite timeshare plan purchaser 709 public offering statement. 710 (2)The developer shall furnish each purchaser with the 711 following: 712 (c)If the purchaser will receive an interest in a specific 713 multisite timeshare plan component site located in the this 714 state, the developer must shall also furnish the purchaser with 715 the information required to be delivered under s. 721.07(6)(c)1. 716 and 2. pursuant to s. 721.07(6)(a) and (b) for that component 717 site. 718 Section 12.Subsection (11) of section 721.82, Florida 719 Statutes, is amended to read: 720 721.82Definitions.As used in this part, the term: 721 (11)Permitted delivery service means delivery to an e 722 mail address, if provided by the obligor, with evidence that the 723 lienholder received the e-mail. Permitted delivery service is 724 only authorized for obligors who reside outside the United 725 States any nationally recognized common carrier delivery 726 service, international airmail service that allows for return 727 receipt service, or a service recognized by an international 728 jurisdiction as the equivalent of certified, registered mail for 729 that jurisdiction. 730 Section 13.Subsection (1) of section 721.85, Florida 731 Statutes, is amended to read: 732 721.85Service to notice address or on registered agent. 733 (1)Service of process for a foreclosure proceeding 734 involving a timeshare interest may be made by any means 735 recognized by law. In addition, substituted service on an 736 obligor who has appointed a registered agent under s. 721.84 may 737 be made on such registered agent at the registered office. Also, 738 when using s. 48.194 where in rem or quasi in rem relief only is 739 sought, such service of process provisions are modified in 740 connection with a foreclosure proceeding against a timeshare 741 interest to provide that: 742 (a)Such service of process may be made on any person 743 whether the person is located inside or outside this state, by 744 certified mail, registered mail, or, if applicable, permitted 745 delivery service, return receipt requested, addressed to the 746 person to be served at the notice address, or on the persons 747 registered agent duly appointed under s. 721.84, at the 748 registered office; and 749 (b)Service shall be considered obtained upon the signing 750 of the return receipt by any person at the notice address, or by 751 the registered agent. 752 Section 14.Paragraph (a) of subsection (3), paragraphs (a) 753 and (b) of subsection (5), paragraph (b) of subsection (6), 754 paragraph (f) of subsection (7), and paragraph (b) of subsection 755 (14) of section 721.855, Florida Statutes, are amended to read: 756 721.855Procedure for the trustee foreclosure of assessment 757 liens.The provisions of this section establish a trustee 758 foreclosure procedure for assessment liens. 759 (3)OBLIGORS RIGHTS. 760 (a)The obligor may object to the lienholders use of the 761 trustee foreclosure procedure for a specific default within 20 762 days after receipt of the notice required under subsection (5) 763 any time before the sale of the timeshare interest under 764 subsection (7) by delivering a written objection to the trustee 765 using the objection form provided for in subsection (5). If the 766 trustee receives the written objection from the obligor, the 767 trustee may not proceed with the trustee foreclosure procedure 768 as to the default specified in the notice of default and intent 769 to foreclose under subsection (5), and the lienholder may 770 proceed thereafter only with a judicial foreclosure action as to 771 that specified default. 772 (5)NOTICE OF DEFAULT AND INTENT TO FORECLOSE. 773 (a)In any foreclosure proceeding under this section, the 774 trustee is required to notify the obligor of the proceeding by 775 sending the obligor a written notice of default and intent to 776 foreclose to the notice address of the obligor by certified mail 777 or, registered mail, or permitted delivery service, return 778 receipt requested;, and by first-class mail, postage prepaid; 779 or, if applicable, permitted delivery service and first-class 780 mail, postage prepaid, as follows: 781 1.The notice of default and intent to foreclose must shall 782 identify the obligor, the notice address of the obligor, the 783 legal description of the timeshare interest, the nature of the 784 default, the amounts secured by the lien, and a per diem amount 785 to account for further accrual of the amounts secured by the 786 lien and must shall state the method by which the obligor may 787 cure the default, including the period of time after the date of 788 the notice of default and intent to foreclose within which the 789 obligor may cure the default. 790 2.The notice of default and intent to foreclose must shall 791 include an objection form with which the obligor can object to 792 the use of the trustee foreclosure procedure by signing and 793 returning the objection form to the trustee. The objection form 794 must shall identify the obligor, the notice address of the 795 obligor, the timeshare interest, and the return address of the 796 trustee and must shall state: The undersigned obligor exercises 797 the obligors right to object to the use of the trustee 798 foreclosure procedure contained in section 721.855, Florida 799 Statutes. 800 3.The notice of default and intent to foreclose must shall 801 also contain a statement in substantially the following form: 802 803 If you fail to cure the default as set forth in this notice or 804 take other appropriate action with regard to this foreclosure 805 matter, you risk losing ownership of your timeshare interest 806 through the trustee foreclosure procedure established in section 807 721.855, Florida Statutes. You may choose to sign and send to 808 the trustee, within 20 days after receipt of this notice, the 809 enclosed objection form, exercising your right to object to the 810 use of the trustee foreclosure procedure. Upon the trustees 811 receipt of your signed objection form, the foreclosure of the 812 lien with respect to the default specified in this notice is 813 shall be subject to the judicial foreclosure procedure only. You 814 have the right to cure your default in the manner set forth in 815 this notice at any time before the trustees sale of your 816 timeshare interest. If you do not object to the use of the 817 trustee foreclosure procedure, you will not be subject to a 818 deficiency judgment even if the proceeds from the sale of your 819 timeshare interest are insufficient to offset the amounts 820 secured by the lien. 821 822 4.The trustee must shall also mail a copy of the notice of 823 default and intent to foreclose, without the objection form, to 824 the notice address of any junior interestholder by certified 825 mail or, registered mail, or permitted delivery service, return 826 receipt requested;, and by first-class mail, postage prepaid; 827 or, if applicable, permitted delivery service and first-class 828 mail, postage prepaid. 829 5.Notice under this paragraph is considered perfected upon 830 the trustee receiving the return receipt bearing the signature 831 of the obligor or junior interestholder, as applicable, within 832 30 calendar days after the trustee sent the notice under this 833 paragraph. Notice under this paragraph is not perfected if: 834 a.The notice is returned as undeliverable within 30 835 calendar days after the trustee sent the notice; 836 b.The trustee cannot, in good faith, ascertain that the 837 obligor or junior interestholder, as applicable, is the person 838 who signed the receipt because all or a portion of the obligors 839 or junior interestholders name is not on the signed receipt or 840 because the trustee cannot otherwise determine that the obligor 841 or junior interestholder signed the receipt; or 842 b.c.The receipt from the obligor or junior interestholder, 843 as applicable, is returned or refused within 30 calendar days 844 after the trustee sent the notice. 845 (b)If the notice required by paragraph (a) is returned as 846 undeliverable within 30 calendar days after the trustee sent the 847 notice, the trustee must shall perform a diligent search and 848 inquiry to obtain a different address for the obligor or junior 849 interestholder. For purposes of this paragraph, any address 850 known and used by the lienholder for sending regular mailings or 851 other communications from the lienholder to the obligor or 852 junior interestholder, as applicable, must shall be included 853 with other addresses produced from the diligent search and 854 inquiry, if any. 855 1.If the trustees diligent search and inquiry produces an 856 address different from the notice address, the trustee must 857 shall mail a copy of the notice by certified mail or, registered 858 mail, or permitted delivery service, return receipt requested;, 859 and by first-class mail, postage prepaid; or, if applicable, 860 permitted delivery service and first-class mail, postage 861 prepaid, to the new address. Notice under this subparagraph is 862 considered perfected upon the trustee receiving the return 863 receipt bearing the signature of the obligor or junior 864 interestholder, as applicable, within 30 calendar days after the 865 trustee sent the notice under this subparagraph. Notice under 866 this subparagraph is not perfected if the receipt from the 867 obligor or junior interestholder, as applicable, is refused or, 868 returned, or the trustee cannot, in good faith, ascertain that 869 the obligor or junior interestholder, as applicable, is the 870 person who signed the receipt because all or a portion of the 871 obligors or junior interestholders name is not on the signed 872 receipt or because the trustee cannot otherwise determine that 873 the obligor or junior interestholder signed the receipt. If the 874 trustee does not perfect notice under this subparagraph, the 875 trustee must shall perfect service in the manner set forth in 876 paragraph (c). 877 2.If the trustees diligent search and inquiry does not 878 locate a different address for the obligor or junior 879 interestholder, as applicable, the trustee may perfect notice 880 against that person under paragraph (c). 881 (6)NOTICE OF SALE. 882 (b)The trustee must shall send a copy of the notice of 883 sale within 3 business days after the date it is submitted for 884 recording, by first-class mail or permitted delivery service and 885 first-class mail, postage prepaid, to the notice addresses of 886 the obligor and any junior interestholder. 887 (7)MANNER OF SALE. 888 (f)On the date of the sale and upon receipt of the cash or 889 certified funds due from the highest bidder, the trustee shall 890 issue to the highest bidder a certificate of sale stating that a 891 foreclosure conforming to the requirements of this section has 892 occurred, including the time, location, and date of the sale;, 893 that the timeshare interest was sold;, the amounts secured by 894 the lien;, and the amount of the highest bid. A copy of the 895 certificate of sale must shall be mailed by certified mail or, 896 registered mail, or permitted delivery service, return receipt 897 requested, or, if applicable, by permitted delivery service and 898 first-class mail, postage prepaid, to all persons entitled to 899 receive a notice of sale under subsection (6). 900 (14)ACTIONS FOR FAILURE TO FOLLOW THE TRUSTEE FORECLOSURE 901 PROCEDURE. 902 (b)Any trustee who intentionally violates the provisions 903 of this section concerning the trustee foreclosure procedure 904 commits a felony of the third degree, punishable as provided in 905 s. 775.082, s. 775.083, or s. 775.084. A trustee who incorrectly 906 ascertains that the obligor signed the return receipt as 907 required in subsection (5) does not violate this section if the 908 trustee made a good faith effort to properly ascertain that the 909 obligor signed the return receipt in accordance with subsection 910 (5). 911 Section 15.Paragraph (a) of subsection (3), paragraphs (a) 912 and (b) of subsection (5), paragraph (b) of subsection (6), 913 paragraph (f) of subsection (7), and paragraph (b) of subsection 914 (13) of section 721.856, Florida Statutes, are amended to read: 915 721.856Procedure for the trustee foreclosure of mortgage 916 liens.The provisions of this section establish a trustee 917 foreclosure procedure for mortgage liens. 918 (3)OBLIGORS RIGHTS. 919 (a)The obligor may object to the lienholders use of the 920 trustee foreclosure procedure for a specific default within 20 921 days after receipt of the notice required under subsection (5) 922 any time before the sale of the timeshare interest under 923 subsection (7) by delivering a written objection to the trustee 924 using the objection form provided for in subsection (5). If the 925 trustee receives the written objection from the obligor, the 926 trustee may not proceed with the trustee foreclosure procedure 927 as to the default specified in the notice of default and intent 928 to foreclose under subsection (5), and the lienholder may 929 proceed thereafter only with a judicial foreclosure action as to 930 that specified default. 931 (5)NOTICE OF DEFAULT AND INTENT TO FORECLOSE. 932 (a)In any foreclosure proceeding under this section, the 933 trustee is required to notify the obligor of the proceeding by 934 sending the obligor a written notice of default and intent to 935 foreclose to the notice address of the obligor by certified mail 936 or, registered mail, or permitted delivery service, return 937 receipt requested;, and by first-class mail, postage prepaid; 938 or, if applicable, permitted delivery service and first-class 939 mail, postage prepaid, as follows: 940 1.The notice of default and intent to foreclose must shall 941 identify the obligor, the notice address of the obligor, the 942 legal description of the timeshare interest, the nature of the 943 default, the amounts secured by the lien, and a per diem amount 944 to account for further accrual of the amounts secured by the 945 lien and must shall state the method by which the obligor may 946 cure the default, including the period of time after the date of 947 the notice of default and intent to foreclose within which the 948 obligor may cure the default. 949 2.The notice of default and intent to foreclose must shall 950 include an objection form with which the obligor can object to 951 the use of the trustee foreclosure procedure by signing and 952 returning the objection form to the trustee. The objection form 953 must shall identify the obligor, the notice address of the 954 obligor, the timeshare interest, and the return address of the 955 trustee and must shall state: The undersigned obligor exercises 956 the obligors right to object to the use of the trustee 957 foreclosure procedure contained in section 721.856, Florida 958 Statutes. 959 3.The notice of default and intent to foreclose must shall 960 also contain a statement in substantially the following form: 961 962 If you fail to cure the default as set forth in this notice or 963 take other appropriate action with regard to this foreclosure 964 matter, you risk losing ownership of your timeshare interest 965 through the trustee foreclosure procedure established in section 966 721.856, Florida Statutes. You may choose to sign and send to 967 the trustee, within 20 days after receipt of this notice, the 968 enclosed objection form, exercising your right to object to the 969 use of the trustee foreclosure procedure. Upon the trustees 970 receipt of your signed objection form, the foreclosure of the 971 lien with respect to the default specified in this notice is 972 shall be subject to the judicial foreclosure procedure only. You 973 have the right to cure your default in the manner set forth in 974 this notice at any time before the trustees sale of your 975 timeshare interest. If you do not object to the use of the 976 trustee foreclosure procedure, you will not be subject to a 977 deficiency judgment even if the proceeds from the sale of your 978 timeshare interest are insufficient to offset the amounts 979 secured by the lien. 980 981 4.The trustee must shall also mail a copy of the notice of 982 default and intent to foreclose, without the objection form, to 983 the notice address of any junior interestholder by certified 984 mail or, registered mail, or permitted delivery service, return 985 receipt requested;, and by first-class mail, postage prepaid; 986 or, if applicable, permitted delivery service and first-class 987 mail, postage prepaid. 988 5.Notice under this paragraph is considered perfected upon 989 the trustee receiving the return receipt bearing the signature 990 of the obligor or junior interestholder, as applicable, within 991 30 calendar days after the trustee sent the notice under this 992 paragraph. Notice under this paragraph is not perfected if: 993 a.The notice is returned as undeliverable within 30 994 calendar days after the trustee sent the notice; 995 b.The trustee cannot, in good faith, ascertain from the 996 receipt that the obligor or junior interestholder, as 997 applicable, is the person who signed the receipt because all or 998 a portion of the obligors or junior interestholders name is 999 not on the signed receipt or the trustee cannot otherwise 1000 determine that the obligor or junior interestholder signed the 1001 receipt; or 1002 b.c.The receipt from the obligor or junior interestholder, 1003 as applicable, is returned or refused within 30 calendar days 1004 after the trustee sent the notice. 1005 (b)If the notice required by paragraph (a) is returned as 1006 undeliverable within 30 calendar days after the trustee sent the 1007 notice, the trustee must shall perform a diligent search and 1008 inquiry to obtain a different address for the obligor or junior 1009 interestholder. For purposes of this paragraph, any address 1010 known and used by the lienholder for sending regular mailings or 1011 other communications from the lienholder to the obligor or 1012 junior interestholder, as applicable, must shall be included 1013 with other addresses produced from the diligent search and 1014 inquiry, if any. 1015 1.If the trustees diligent search and inquiry produces an 1016 address different from the notice address, the trustee must 1017 shall mail a copy of the notice by certified mail or, registered 1018 mail, or permitted delivery service, return receipt requested;, 1019 and by first-class mail, postage prepaid; or, if applicable, 1020 permitted delivery service and first-class mail, postage 1021 prepaid, to the new address. Notice under this subparagraph is 1022 considered perfected upon the trustee receiving the return 1023 receipt bearing the signature of the obligor or junior 1024 interestholder, as applicable, within 30 calendar days after the 1025 trustee sent the notice under this subparagraph. Notice under 1026 this subparagraph is not perfected if the receipt from the 1027 obligor or junior interestholder is refused or, returned, or the 1028 trustee cannot, in good faith, ascertain that the obligor or 1029 junior interestholder, as applicable, is the person who signed 1030 the receipt because all or a portion of the obligors or junior 1031 interestholders name is not on the signed receipt or because 1032 the trustee cannot otherwise determine that the obligor or 1033 junior interestholder signed the receipt. If the trustee does 1034 not perfect notice under this subparagraph, the trustee must 1035 shall perfect service in the manner set forth in paragraph (c). 1036 2.If the trustees diligent search and inquiry does not 1037 locate a different address for the obligor or junior 1038 interestholder, as applicable, the trustee may perfect notice 1039 against that person under paragraph (c). 1040 (6)NOTICE OF SALE. 1041 (b)The trustee must shall send a copy of the notice of 1042 sale within 3 business days after the date it is submitted for 1043 recording, by first-class mail or permitted delivery service, if 1044 applicable, and first-class mail, postage prepaid, to the notice 1045 addresses of the obligor and any junior interestholder. 1046 (7)MANNER OF SALE. 1047 (f)On the date of the sale and upon receipt of the cash or 1048 certified funds due from the highest bidder, the trustee shall 1049 issue to the highest bidder a certificate of sale stating that a 1050 foreclosure conforming to the requirements of this section has 1051 occurred, including the time, location, and date of the sale;, 1052 that the timeshare interest was sold;, the amounts secured by 1053 the lien;, and the amount of the highest bid. A copy of the 1054 certificate of sale must shall be mailed by certified mail or, 1055 registered mail, or permitted delivery service, return receipt 1056 requested, or, if applicable, by permitted delivery service and 1057 first-class mail, postage prepaid, to all persons entitled to 1058 receive a notice of sale under subsection (6). 1059 (13)ACTIONS FOR FAILURE TO FOLLOW THE TRUSTEE FORECLOSURE 1060 PROCEDURE. 1061 (b)Any trustee who intentionally violates the provisions 1062 of this section concerning the trustee foreclosure procedure 1063 commits a felony of the third degree, punishable as provided in 1064 s. 775.082, s. 775.083, or s. 775.084. A trustee who incorrectly 1065 ascertains that the obligor signed the return receipt as 1066 required in subsection (5) does not violate this section if the 1067 trustee made a good faith effort to properly ascertain that it 1068 is the obligor who signed the return receipt in accordance with 1069 subsection (5). 1070 Section 16.Subsection (5) is added to section 721.86, 1071 Florida Statutes, to read: 1072 721.86Miscellaneous provisions. 1073 (5)Mediation, a settlement conference, or any other effort 1074 to resolve a foreclosure is not required once a default in a 1075 judicial foreclosure of an assessment lien or mortgage lien has 1076 been issued. 1077 Section 17.For the purpose of incorporating the amendment 1078 made by this act to section 721.11, Florida Statutes, in a 1079 reference thereto, paragraph (d) of subsection (1) of section 1080 721.09, Florida Statutes, is reenacted to read: 1081 721.09Reservation agreements; escrows. 1082 (1) 1083 (d)A seller who has filed a reservation agreement and an 1084 escrow agreement under this section may advertise the 1085 reservation agreement program if the advertising material meets 1086 the following requirements: 1087 1.The seller complies with the provisions of s. 721.11 1088 with respect to such advertising material. 1089 2.The advertising material is limited to a general 1090 description of the proposed timeshare plan, including, but not 1091 limited to, a general description of the type, number, and size 1092 of accommodations and facilities and the name of the proposed 1093 timeshare plan. 1094 3.The advertising material contains a statement that the 1095 advertising material is being distributed in connection with an 1096 approved reservation agreement filing only and that the seller 1097 cannot offer an interest in the timeshare plan for sale until a 1098 filed public offering statement has been filed with the division 1099 under this chapter. 1100 Section 18.For the purpose of incorporating the amendment 1101 made by this act to section 721.11, Florida Statutes, in a 1102 reference thereto, subsection (6) of section 721.111, Florida 1103 Statutes, is reenacted to read: 1104 721.111Prize and gift promotional offers. 1105 (6)All advertising material to be distributed in 1106 connection with a prize and gift promotional offer shall 1107 contain, in addition to the information required pursuant to the 1108 provisions of s. 721.11, the following disclosures: 1109 (a)A description of the prize, gift, or other item that 1110 the prospective purchaser will actually receive, including, if 1111 the price is in excess of $50, the manufacturers suggested 1112 retail price or, if none is available, the verifiable retail 1113 value. If the value is $50 or less, the description shall 1114 contain a statement of such. 1115 (b)All rules, terms, requirements, and preconditions which 1116 must be fulfilled or met before a prospective purchaser may 1117 claim any prize, gift, or other item involved in the prize and 1118 gift promotional plan, including whether the prospective 1119 purchaser is required to attend a sales presentation in order to 1120 receive the prize, gift, or other item. 1121 (c)The date upon which the offer expires. 1122 (d)If the number of prizes, gifts, or other items to be 1123 awarded is limited, a statement of the number of items that will 1124 be awarded. 1125 (e)The method by which prizes, gifts, or other items are 1126 to be awarded. 1127 Section 19.This act shall take effect upon becoming a law.