As of March 5, the HB 233 (Senate substitute) unanimously passed both houses. In summary HB 233 proposes greater consumer disclosure by doing the following: i) requiring any reseller of a timeshare in Virginia be subject to the regulatory authority of the Common Interest Community Board, ii) requiring timeshare resellers to make written disclosures to purchasers concerning the timeshare being resold, and iii) requiring that a separate buyer's acknowledgment form must be provided to each timeshare purchaser disclosing certain information.
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