The bill H. 3351 proposes an amendment to Section 27-32-40 of the South Carolina Code of Laws, which pertains to the provision of timeshare contracts to purchasers. 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. The amended language specifies that purchasers may cancel the contract without penalty or obligation within this ten-day period, and outlines the necessary steps for notifying the seller of the intent to cancel.

Additionally, the bill maintains the requirement for a statement regarding the cancellation rights to be included in the contract, ensuring that it is presented in bold type and in close proximity to the purchaser's signature. The language regarding the cancellation of contracts in the event that accommodations or facilities are no longer available remains unchanged. This 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