61B-40.005 — Guarantee of Common Expenses Under Sections 718.116(9) and 721.15(2), Florida Statutes

Administrative rule 61B-40.005 establishes requirements for guarantees of common expenses in timeshare properties under sections 718.116(9) and 721.15(2), Florida Statutes.

The rule sets forth the regulatory framework governing how timeshare associations must handle guarantees of common expenses. The rule implements statutory provisions that address financial obligations and guarantees within timeshare accounting and reporting structures.

Timeshare associations and timeshare management entities subject to Florida's timeshare financial reporting and accounting requirements.

Effective December 18, 2001.