Fla. Admin. Code Ann. R. 61B-39.002 - Public Offering Statement and Purchase Agreement Requirements
(1) Each registered public offering statement
shall:
(a) Be paginated numerically in
consecutive order within each tabbed section;
(b) Wherever possible, be printed on both
sides of each page in 10-point size and on 8 1/2'' x 11'' paper;
(c) Be securely bound along the left margin,
fastened between firm removable covers, and submitted in an expandable file
folder;
(d) Contain a divider with
a labeled tab between each prescribed portion of the POS corresponding to BPR
Form 503, Table of Contents to Multisite Public Offering Statement, effective
6-12-96, or DBPR Form 6000-9, Table of Contents to Single-Site/ Component Site
Public Offering Statement, effective 12-18-01, both incorporated herein by
reference a copy of which may be obtained at the address referenced in
subsection 61B-39.002(4),
F.A.C.; and
(e) Not contain
conspicuous type except where required by statute or rule, or as permitted by
the division pursuant to Section
721.07(5)(gg),
F.S.
(2) All POS
disclosures required to be in conspicuous type pursuant to statute or rule
shall be made in bold font.
(3) The
registered POS shall be submitted to the division in the English language and
any reference, in an approval letter of the division, to the documents
comprising the registered POS shall be to such documents in the English
language. A developer may use non-English versions of the filed documents if:
(i) any such document is an accurate
translation of the English version that has been approved by the division,
and
(ii) the developer has
identified each translated document in a completed, executed statement using
the form prescribed in BPR form 511, Statement of Translation, incorporated
herein by reference and effective 3-23-97, a copy of which may be obtained at
the address referenced in subsection
61B-39.002(4),
F.A.C. Upon request by the division, a developer shall promptly deliver to the
division a copy of any translated document that has been or is being used in an
offering.
(4) Where
brackets [ ] appear on the forms referenced in these rules, the words or
symbols between the brackets are intended to solicit any applicable information
relevant to the developer. Copies of the forms referenced in these rules may be
obtained by writing: Department of Business and Professional Regulation,
Division of Condominiums, Timeshares, and Mobile Homes, 2601 Blair Stone Road,
Tallahassee, Florida 32399-1030.
(5) Approval by the division of a POS shall
not be promoted to the public as an endorsement by the division of the
developer or the timeshare plan or be used to induce the purchase of an
interest in a timeshare plan.
(6)
Within 30 days after recording any timeshare instrument, the developer shall
provide the division with a copy of the recorded instrument.
(7) The division shall notify a developer
within the first ten business days of the statutory review period prescribed in
Sections 721.07(2)(a) and 721.07(3)(a)1., F.S., if a POS submitted to the
division for review is not in the format required by these rules.
(8) The substance of the definition of the
term "notify" as defined in Rule
61B-39.001, F.A.C., shall be
disclosed in the purchase agreement executed by a purchaser immediately
following the space in the contract reserved for the signature of the
purchaser, disclosed as a footnote to the disclosure required by Section
721.06(1)(g) or
721.065(2)(c),
F.S.
(9) A developer of a multisite
timeshare plan may combine the Receipt for Multisite Timeshare Documents for
which a form is provided in Rule
61B-39.005, F.A.C., and the
Receipt for Single-Site/Component Site Timeshare Documents for which a form is
provided in Rule 61B-39.003, F.A.C., into a
single Receipt for Timeshare Documents with respect to any one component site,
provided that such developer follows the general format provided in the
aforementioned forms and the resulting single form is approved by the
division.
(10) It shall be a
violation of Chapter 721, F.S., for any person to interfere with the delivery
of a notice of cancellation by a purchaser.
Notes
Rulemaking Authority 721.07, 721.26(6), 721.55, 721.551 FS. Law Implemented 721.03, 721.03(1)(c)3., 721.06, 721.065, 721.55, 721.551 FS.
New 6-12-96, Amended 3-23-97, 12-18-01.
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.