61B-40.0062 — Waiver of Reserves

Rule 61B-40.0062 establishes the process for timeshare associations to obtain a waiver of reserve funding requirements.

The rule sets forth conditions under which timeshare associations may request exemption from mandatory reserve account establishment and funding. The rule specifies the procedures, documentation, and criteria that timeshare associations must follow to seek approval for a reserves waiver from the Department of Business and Professional Regulation.

Timeshare associations seeking to waive reserve funding obligations.

Effective January 12, 2010.