Bill Number: H.B. 2639

            Ugenti-Rita Floor Amendment

            Reference to: House engrossed bill

            Amendment drafted by: Molly Graver

 

 

1.    Removes, from the secondary separate disclosure document, the requirement for a timeshare agreement that has no set duration to include an affirmative statement disclosing that a purchaser’s obligations under the agreement may extend throughout the course of a purchaser’s lifetime.

2.    Specifies that if the maximum amount of the first year’s assessments is unknown at the time of purchase a secondary separate disclosure document must include that there is no limit on the assessments that a purchaser may be charged in the first year of ownership, unless a purchase agreement provides for a limit on assessments during that time.

 

Fifty-fourth Legislature                                              Ugenti-Rita

First Regular Session                                                   H.B. 2639

 

UGENTI-RITA FLOOR AMENDMENT

SENATE AMENDMENTS TO H.B. 2639

(Reference to House engrossed bill)

 

Page 2, line 14, after "purchaser" insert "or whether"; strike "and, if"; strike ", an affirmative" insert a period

Strike lines 15 and 16

Line 36, after "(iii)" insert "Unless the purchase agreement provides for a limit on assessments during the first year of ownership,"

Amend title to conform

 

 

MICHELLE UGENTI-RITA

 

2639UGENTI-RITA1022.docx

04/04/2019

10:22 AM

S: MG/AA/gs