October 2009 Developments - 29

of the timeshare interest to owners looking to list or advertise such interests for resale. This information includes the following: (a) fees or costs that the timeshare interest owner or any other person must pay to the resale service provider or any third party; (b) when such fees or costs are due; and (c) the ratio or percentage of the number of listings of timeshare interests for sale versus the number of timeshare interests sold by the resale service provider for each of the previous two calendar years (see §721.20(9), Florida Statutes). Failure to disclose this information in writing constitutes an unfair and deceptive trade practice pursuant to Chapter 501, Florida Statutes. Further, any contract entered into in violation of this law is void, and the purchaser is entitled to a full refund of any moneys paid to the resale service provider. The effect of these new provisions are to provide timeshare owners that want to resell their timeshare interests with the right to obtain important information affecting the decision to enter into a listing or advertising agreement with a resale service provider. SB 2226 It should be noted that in addition to obtaining the passage of HB 61, ARDAFlorida also got involved in the passage of SB 2226 (approved by Governor Crist, Chapter 2009-241), Florida’s bill that implements the minimum standards of The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (“S.A.F.E.”) (Title V of the federal Housing and Economic Recovery Act). In particular, ARDA-Florida was able to add to the bill an exemption for a person involved solely in the extension of credit relating to the purchase of a timeshare plan. Consequently, the sellers of timeshare plans extending credit for the purchase of a timeshare interest are exempt from Parts I, II, and II of Chapter 494, Florida Statutes, regarding mortgage brokerage and mortgage lending licensure requirements. D Andrew M. Fisher is an associate and Kurt Gruber is a hospitality partner in the Orlando office of Baker Hostetler. Both have practices that focus on the development of vacation ownership projects and related areas of the hospitality industry. Their e-mail addresses are afisher@bakerlaw. com and kgruber@bakerlaw.com. Don’t go it alone — put our expertise to work for you. Meridian Financial Services = Collections At No Cost To You Meridian Financial Services is a sophisticated third-party collection agency able to service whole and partial portfolios. With Meridian, you can: • Lower Bad Debt • Increase Cash Flow • Keep Loans In Good Standing • Reduce Write-Offs • Bring Association Dues Current • Avoid Foreclosures • And More Meridian, a subsidiary of Interval Resort & Financial Services, is a veteran of the vacation ownership industry. We understand the impact of bad debt, as well as the importance of keeping your owners’ accounts current, and preserving their confidence in the purchase decision. To learn, at no cost, how Meridian can work for you, please contact: Greg Sheperd, president, at 866.294.7120, extension 106, or by e-mail at gsheperd@merid.com Marc Coleman, account executive, at 866.294.7120, extension 126, or by e-mail at mcoleman@merid.com October 2009 • Developments

October 2009 Developments

Table of Contents for the Digital Edition of October 2009 Developments

October 2009 Developments - 1
October 2009 Developments - C1
October 2009 Developments - I1
October 2009 Developments - I2
October 2009 Developments - I3
October 2009 Developments - I4
October 2009 Developments - 4
October 2009 Developments - 5
October 2009 Developments - 6
October 2009 Developments - 7
October 2009 Developments - 8
October 2009 Developments - 9
October 2009 Developments - 10
October 2009 Developments - 11
October 2009 Developments - 12
October 2009 Developments - 13
October 2009 Developments - 14
October 2009 Developments - 15
October 2009 Developments - 16
October 2009 Developments - 17
October 2009 Developments - 18
October 2009 Developments - 19
October 2009 Developments - 20
October 2009 Developments - 21
October 2009 Developments - 22
October 2009 Developments - 23
October 2009 Developments - 24
October 2009 Developments - 25
October 2009 Developments - 26
October 2009 Developments - 27
October 2009 Developments - 28
October 2009 Developments - 29
October 2009 Developments - 30
October 2009 Developments - 31
October 2009 Developments - 32
October 2009 Developments - 33
October 2009 Developments - 34
October 2009 Developments - 35
October 2009 Developments - 36
October 2009 Developments - 37
October 2009 Developments - 38
October 2009 Developments - 39
October 2009 Developments - 40
October 2009 Developments - 41
October 2009 Developments - 42
October 2009 Developments - 43
October 2009 Developments - 44
October 2009 Developments - 45
October 2009 Developments - 46
October 2009 Developments - 47
October 2009 Developments - 48
October 2009 Developments - 49
October 2009 Developments - 50
October 2009 Developments - 51
October 2009 Developments - 52
October 2009 Developments - 53
October 2009 Developments - 54
October 2009 Developments - 55
October 2009 Developments - 56
October 2009 Developments - 57
October 2009 Developments - 58
October 2009 Developments - 59
October 2009 Developments - 60
October 2009 Developments - 61
October 2009 Developments - 62
https://www.nxtbookmedia.com