The bill H. 3351 proposes an amendment to Section 27-32-40 of the South Carolina Code of Laws, which pertains to the rights of purchasers regarding timeshare contracts. The key change introduced by this bill is the extension of the cancellation period for purchasers from five days to ten days after signing the contract. This allows purchasers to cancel the contract without penalty or obligation within this ten-day timeframe, not including Sundays or the date they receive the disclosure statement, whichever occurs later.

Additionally, the bill maintains the requirement for sellers to provide a written notice of intent to cancel, which must be sent via certified mail or another verifiable means. The language regarding the cancellation of contracts in the event that accommodations or facilities are no longer available remains unchanged. The bill will take effect upon approval by the Governor.

Statutes affected:
12/05/2024: 27-32-40, 27-32-100
Latest Version: 27-32-40, 27-32-100
12/06/2024: 27-32-40, 27-32-100