Proposed Florida Legislation

Here's a recap of the proposed legislation in Florida regarding timeshare resales:

• A timeshare resale advertiser may not misrepresent a pre-existing interest in the owner’s timeshare.
• A timeshare resale advertiser may not mislead a customer as to the success rate of the advertiser’s sales.
• A timeshare resale advertiser may not provide brokerage or direct sale services.
• A timeshare resale advertiser must honor a cancellation request made within 7 days following a signed agreement.
• A timeshare resale advertiser must provide a full refund by a timeshare owner within 20 days of a valid cancellation request.
• A timeshare resale advertiser must not collect any payment or engage in any resale advertising activities until the timeshare owner delivers a signed written agreement for the services.
• A timeshare resale advertiser must also provide a full disclosure statement printed in bold type, with no smaller than a 12-point font, and printed immediately preceding the space provided for the timeshare owner’s signature.
• A timeshare advertising agreement must be put in writing.
• A company who violates these provisions has committed a violation of the Unfair and Deceptive Trade Practices Act with a penalty not to exceed $15,000 per violation.

Thoughts?  I think it's a great start, but if it passes, it MUST be combined with a strong consumer outreach program.  Just because it may become illegal for companies to conduct business this way doesn't mean consumers won't be ripped off.