reglab/statecodes huggingface dataset:
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter IV - Lienholder Subordination; Alternative Financial Assurances; Incidental Benefits (§§ 1254 — 1254b) › § 1254b - Completion of accommodations and facilities

(1) A developer shall complete all accommodations and facilities, the future availability of which is represented by or on behalf of the developer to purchasers, whether in the timeshare or vacation club documents, in advertising or promotional materials, by oral or written statement, or by any other means, within eighteen (18) months of the date designated by the developer pursuant to subsection (2)(b) of this section.
(2) A developer shall file with the Company in connection with any such accommodation or facility not yet completed as of the date upon which any such representation is made:
(a) A written statement disclosing all costs involved in completing the subject accommodation or facility.
(b) A written statement of the estimated time of completion of such accommodation or facility.
(c) A copy of the executed construction contract and any other contracts for the completion of the accommodation or facility.
(d) Satisfactory evidence of the availability of sufficient funds to complete such accommodation or facility which shall consist of:
(i) Payment and performance bond in the amount of one hundred percent (100%) of the anticipated cost of completing the subject accommodation or facility. Any such bond shall be issued by a surety or insurance company authorized to do business in Puerto Rico and having a sufficient net worth to be acceptable to the Company, or
(ii) a letter of credit in the amount specified in paragraph (i) above issued by a bank, savings and loan association, or other federally insured financial institution authorized to do business in Puerto Rico and having a sufficient net worth to be acceptable to the Company.
Any such bond or letter of credit shall be irrevocable pending the developer’s completion of the promised accommodation or facility. Should it become necessary for the Company to call upon the bond or letter of credit in order to assure the completion of such accommodation or facility, the Company shall have the authority to petition a court of competent jurisdiction to appoint a receiver to administer such completion.
History —Dec. 26, 1995, No. 252, § 4-103.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter V - Required Disclosures to Prospective Purchasers (§§ 1255 — 1255d) › § 1255 - Public offering statement

Prior to offering or disposing of any timeshares, vacation club rights or accommodations in Puerto Rico, a developer must file a public offering statement with the Company for approval. The developer shall furnish each prospective purchaser with a copy of the approved public offering statement prior to such prospective purchaser’s execution of any purchase contract. Approval of the public offering statement shall be governed by the procedures set forth in §§ 1252—1252j of this title.
History —Dec. 26, 1995, No. 252, § 5-101.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter V - Required Disclosures to Prospective Purchasers (§§ 1255 — 1255d) › § 1255c - Summary disclosure

The developer of a timeshare plan or vacation club may deliver the information, explanations, and disclosures required by this subchapter to prospective purchasers of timeshares, vacation club rights or accommodations in a more summary manner, including through the use of tables or charts, as authorized by the Company, by regulation or otherwise, if such disclosures are deemed by the Company to accomplish meaningful and effective disclosure to such prospective purchasers.
History —Dec. 26, 1995, No. 252, § 5-104.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter V - Required Disclosures to Prospective Purchasers (§§ 1255 — 1255d) › § 1255d - Disclosures and documents outside of Puerto Rico

In the case of timeshare plan or vacation club disclosures which have been approved or accepted by another state which, in the opinion of the Company, regulates timeshare’s plan or vacation clubs with disclosure requirements and concomitant consumer protection substantially similar to or greater than that afforded by this chapter and by Puerto Rico, the Company may accept all or a portion of such disclosures which have been approved or accepted by such other state in lieu of all or a portion of the public offering statement otherwise required by this subchapter. The Company is authorized to enter into an agreement with another state for the purpose of facilitating the processing of out-of-state timeshare documents or vacation club documents and for the purpose of facilitating the referral of consumer complaints to the appropriate state.
History —Dec. 26, 1995, No. 252, § 5-105.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VI - Management of Timeshare Plans and Vacation Clubs; Common Expenses; Reservation Systems (§§ 1256 — 1256f) › § 1256 - Managing entity

(1) Prior to offering timeshares, vacation club rights or accommodations, the developer of a timeshare plan or vacation club shall create or provide for a managing entity which must be the developer, a property management firm, a hotel management firm, an owners’ association, a trust, an incorporated club, or some combination thereof. The managing entity of a vacation club may also be the component site managing entity of one or more component sites; however, in such event, unless the vacation club is comprised exclusively of nonspecific vacation club rights, the funds, including reserves, and the books and records of the vacation club and of the component site or sites involved shall not be commingled for longer than a thirty-day period after the managing entity receives funds from an owner. The financial books and records of a timeshare plan or vacation club shall be maintained by the managing entity in accordance with generally accepted accounting principles and audited annually by an independent certified public accountant in accordance with the standards of the Accounting Standards Board of the American Institute of Certified Public Accountants, with a copy of such audit being filed annually with the Company. All expenses associated with such audit shall be common expenses.
(2) The managing entity shall fully comply with the provisions of this chapter; however, with respect to a particular component site, the vacation club managing entity shall not be responsible for any wrongful acts or omissions of the applicable component site managing entity, unless the vacation club managing entity is also the component site managing entity.
History —Dec. 26, 1995, No. 252, § 6-101.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VI - Management of Timeshare Plans and Vacation Clubs; Common Expenses; Reservation Systems (§§ 1256 — 1256f) › § 1256b - Duties of managing entity regarding property and component site

(1) Prior to representing in any manner that an accommodation is part of a timeshare plan or vacation club component site, the developer or the managing entity must determine and certify to the Company, to the best of the declarer’s knowledge based upon all available information, the following information with respect to the timeshare plan or each vacation club component site:
(a) That all assessments on accommodations owned or otherwise controlled by the developer are fully paid as required by applicable law and the timeshare or vacation club documents;
(b) the aggregate amount of delinquent assessments due with respect to the timeshare plan or component site, if any, and
(c) a statement that the latest annual financial statement or audit of the timeshare’s plan or component site’s books and records shows that to the extent required by applicable law or the timeshare or vacation club documents, adequate reserves have been fully financial and maintained.
(2) The certification described in subsection (1) of this section shall [be] renewed at least annually. In the event that the developer or the managing entity determines that the status of any timeshare plan or component site has materially changed such that any component of the certification described in subsection (1) of this section is no longer materially accurate, the developer or managing entity shall promptly notify the Company of the change.
(3) The managing entity shall owe a fiduciary duty to each owner of a timeshare, vacation club right or accommodation with respect to the overall operation and management of the timeshare plan or vacation club, including without limitation the incurring of expenditures and obligations and the contracting or subcontracting for services and supplies. In the discharge of such fiduciary duty, the managing entity shall exercise due diligence in procuring such supplies or services as may be required by the timeshare plan or vacation club from third parties at competitive prices, in keeping with the quality standards of the timeshare plan or vacation club in question, and shall report as part of its managing fee collected, in addition to its contractually stated managing fee, any amounts or the value of any benefits received by the managing entity from any supplier of goods or services to the timeshare plan or vacation club.
History —Dec. 26, 1995, No. 252, § 6-103.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VI - Management of Timeshare Plans and Vacation Clubs; Common Expenses; Reservation Systems (§§ 1256 — 1256f) › § 1256f - Recall of managing entity by developer

The developer shall have the right, without the need to obtain the consent of the owners, to:
(1) Recall or terminate the managing entity upon the occurrence of any of the following events:
(a) The early termination of the agreement between the developer and the managing entity by any of said parties pursuant to any provisions thereof allowing for said early termination or pursuant to applicable law.
(b) The abandonment by the managing entity of its obligations with respect to the timeshare or vacation club property.
It shall be presumed that a managing entity has abandoned its obligations with respect to the timeshare or vacation club property upon the occurrence of any of the following events:
(i) A substantial number of the managing entity’s employees assigned to the timeshare or vacation club property have been absent from the timeshare or vacation club property for more than twenty four (24) consecutive hours.
(ii) The managing entity has removed or is in the process of removing, from any location within the timeshare or vacation club property that may have been formerly occupied by said person, a substantial part of its furniture, fixtures or equipment located therein, with no apparent intention to replace or substitute the same.
(2) Substitute the managing entity upon the occurrence of any of the following events:
(a) Any of the events set forth in subsection (1) above.
(b) The resignation by the managing entity.
(c) The expiration of the term of the agreement between the developer and the managing entity pursuant to the provisions thereof.
Notwithstanding any provisions to the contrary in the agreement between the developer and the managing entity, upon becoming aware of the occurrence of any of the events referred to in subsection (1) above, the developer shall have the right to terminate or discharge the managing entity from its obligations with respect to the timeshare or vacation club property by delivery to the managing entity of a notice to such effect, said termination or discharge to be effective on the date set forth in said notice.
History —Dec. 26, 1995, No. 252, added as § 6-107 on July 5, 1996, No. 66, § 27.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VII - Prohibited Practices (§§ 1257 — 1257c) › § 1257 - In general

It shall be unlawful for any person offering timeshares, vacation club rights or accommodations within Puerto Rico intentionally to authorize, use, direct, or aid in the dissemination, publication, distribution, or circulation of any statement, advertisement, broadcast, or telecast concerning the timeshare plan or vacation club in which such timeshares, vacation club rights or accommodations are offered, which contains any statement, characterization, or depiction, either written or graphic which is false or misleading, including, without limitation, showing proposed improvements or nonexistent scenes without clearly indicating that the improvements are proposed and the scenes do not exist.
Nothing in this section shall be construed to hold the publisher of any newspaper, any job printer, any broadcaster or telecaster, any magazine publisher, or any employee thereof, liable for any publication, dissemination, distribution, or circulation herein prohibited unless such person had actual knowledge of the falsity thereof.
History —Dec. 26, 1995, No. 252, § 7-101.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VII - Prohibited Practices (§§ 1257 — 1257c) › § 1257a - Submission of advertising materials for an advisory opinion

Advertising materials, excluding exchange program materials, proposed for use by any person in connection with the offer, promotion, or disposition of timeshares, vacation club rights or accommodations in Puerto Rico may, prior to their use, be submitted to the Company, accompanied by a request for a written advisory opinion concerning such materials’ compliance with this chapter. The Company may, but shall not be required to, issue such an advisory opinion unless it has adopted regulations obligating it to issue advisory opinions. Materials shall be submitted in the manner prescribed by regulations, if any, adopted by the Company. The Company may, by regulation, impose a fee for the issuance of an advisory opinion. An advisory opinion issued by the Company shall bind the Company but shall have no effect on any other person.
History —Dec. 26, 1995, No. 252, § 7-102; July 5, 1996, No. 66, § 13.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VIII - Exchange Programs (§§ 1258 — 1258e) › § 1258a - Company filing

Each exchange company offering an exchange program to owners in Puerto Rico shall file the information specified in § 1258 of this title with the Company by August 1 of each year. However, an exchange company will make its initial filing at least twenty (20) days prior to offering membership in an exchange program to any prospective purchaser, purchaser or owner in Puerto Rico.
History —Dec. 26, 1995, No. 252, § 8-102.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VIII - Exchange Programs (§§ 1258 — 1258e) › § 1258b - Nonliability

No developer shall have any liability with respect to any violation of this chapter arising out of the publication by the developer of information provided to it by an exchange company pursuant to §§ 1258—1258e of this title. No exchange company shall have any liability with respect to any violation of this chapter arising out of the use by a developer of information relating to an exchange program other than that provided to the developer by the exchange company.
History —Dec. 26, 1995, No. 252, § 8-103.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VIII - Exchange Programs (§§ 1258 — 1258e) › § 1258c - Communications

All written, visual and electronic communications relating to an exchange company, or an exchange program shall be filed with the Company within ten (10) days following their use.
History —Dec. 26, 1995, No. 252, § 8-104.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VIII - Exchange Programs (§§ 1258 — 1258e) › § 1258d - Violation

The failure of an exchange company to observe the requirements of §§ 1258—1258e of this title and the use of any unfair or deceptive act or practice in connection with the operation of an exchange program, is a violation of this chapter.
History —Dec. 26, 1995, No. 252, § 8-105.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter VIII - Exchange Programs (§§ 1258 — 1258e) › § 1258e - Denial of privileges

An exchange company may elect to deny exchange privileges to any member whose use of the accommodations and facilities of the owner’s timeshare plan or vacation club is denied, and no exchange program or exchange company shall be liable to any of its members or any third parties on account of any such denial of exchange privileges.
History —Dec. 26, 1995, No. 252, § 8-106.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter IX - Referral Programs (§ 1259) › § 1259 - Referral programs

Any referral program initiated by a developer, pursuant to which an owner, for valuable consideration, is requested to provide the developer or its agent with a list of names of persons who might be interested in purchasing or otherwise acquiring a timeshare or vacation club right, shall not be deemed to involve an act of brokerage which obligates such owner to have a real estate broker or salesperson’s license within Puerto Rico, provided that such program is not implemented by a developer in order to circumvent any provision of this chapter, §§ 3026 et seq. of Title 20, known as the “Act to Regulate the Real Estate Business and the Profession of Real Estate Broker, Salesperson or Companies in Puerto Rico”, or any rules or regulations promulgated thereunder.
History —Dec. 26, 1995, No. 252, § 9-101.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter X - Remedies (§§ 1260 — 1260g) › § 1260 - Unconscionability

A court of competent jurisdiction, upon finding, as a matter of law, that a contract or contract clause was unconscionable at the time the contract was made, may refuse to enforce the contract, enforce the remainder of the contract without the unconscionable clause, or limit the application of any unconscionable clause in order to avoid an unconscionable result.
History —Dec. 26, 1995, No. 252, § 10-101.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter X - Remedies (§§ 1260 — 1260g) › § 1260a - Obligation of good faith

Every contract or duty governed by this chapter imposes an obligation of good faith which shall mean honesty in fact and the observance of reasonable standards of fair dealing in its performance or enforcement.
History —Dec. 26, 1995, No. 252, § 10-102.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter X - Remedies (§§ 1260 — 1260g) › § 1260b - Remedies to be liberally administered

(1) The remedies provided by this chapter shall be liberally administered to the end that the aggrieved party is put in as good a position as if the other party had fully performed. However, consequential, special, or punitive damages shall not be awarded, except as specifically provided in this chapter or by other statute enacted in Puerto Rico.
(2) Any right or obligation established or imposed by this chapter shall be enforceable by judicial proceeding.
History —Dec. 26, 1995, No. 252, § 10-103.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter X - Remedies (§§ 1260 — 1260g) › § 1260c - Conflicts

Subject to §§ 1252g and 1269 of this title, in the event of any conflict between the provisions of this chapter and any provision of another statute or regulation enacted in Puerto Rico pertaining to timeshares, vacation club rights, accommodations, condominiums, securities, the advertisement, promotion, or offering or recordation thereof, or consumer protection in general, the provisions of this chapter shall control in connection with all matters within the purview of this chapter.
History —Dec. 26, 1995, No. 252, § 10-104.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter X - Remedies (§§ 1260 — 1260g) › § 1260d - Effect of violations on rights of action; attorneys’ fees

If a developer or any other person subject to this chapter fails to comply with any provision of this chapter, any person adversely affected thereby shall be entitled to initiate a claim in a court of competent jurisdiction seeking appropriate relief. The court may also award reasonable attorneys’ fees to the prevailing party.
History —Dec. 26, 1995, No. 252, § 10-105.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter X - Remedies (§§ 1260 — 1260g) › § 1260e - Disposition voidable

In addition to any other remedies provided for in this chapter, any deed or instrument of conveyance or disposition and any purchase contract shall be voidable, at the sole option of the grantee or purchaser, his heirs, personal representative, or trustee in insolvency or bankruptcy, within two (2) years following the last to occur of:
(1) The date of execution of the applicable purchase contract;
(2) the date of execution of the instrument of conveyance or disposition, or
(3) the date upon which the disposition occurred if such disposition were not effected by deed or other instrument of conveyance, if on any such date, no currently effective timeshare or vacation club permit was issued to the developer.
The provisions of this section shall not be applicable to transactions permissible for developers of existing timeshare property which file their application for permit within the first year of the effectiveness of this law in compliance with the provisions of § 1252g. The provisions of this section shall also not apply to deeds or instruments or to the purchase contracts, executed by developers of existing timeshare property prior to applying for their permit, provided they do so on or before July 1, 1996.
History —Dec. 26, 1995, No. 252, § 10-106; July 5, 1996, No. 66, § 29.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter X - Remedies (§§ 1260 — 1260g) › § 1260f - Limitation of actions

An action or proceeding to enforce any provision of this chapter must be commenced within three (3) years following the date upon which the claim upon which such action or proceeding is based accrues.
History —Dec. 26, 1995, No. 252, § 10-107.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter X - Remedies (§§ 1260 — 1260g) › § 1260g - Applicable law

Any provision in a deed, instrument of assignment or other disposition or purchase contract with respect to a timeshare, vacation club right or accommodation, which establishes that the same shall be governed by or interpreted in accordance with the law of a particular jurisdiction or that any controversy arising thereunder shall be heard in the courts of a particular jurisdiction which does not have a substantial relation to the domicile of the parties thereto or to the place where the property which is the object thereof, or properties in the case of a vacation club, are located, shall be null and void.
History —Dec. 26, 1995, No. 252, added as § 10-108 on July 5, 1996, No. 66, § 30.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XI - Powers of Company (§§ 1261 — 1261h) › § 1261 - Regulations and forms

(1) Except as otherwise provided in § 1261h of this title, the Company shall be the sole and exclusive governmental agency responsible for the implementation and enforcement of the provisions of this chapter. In furtherance thereof, the Company may from time to time promulgate, amend, and rescind any regulations, forms, and orders which it deems necessary or appropriate to carry out the provisions of this chapter, including regulations and forms governing applications and reports and defining any term, whether or not used in this chapter; Provided, That any such definitions are not inconsistent with the provisions of this chapter.
(2) The Company may intervene in any action or suit involving the rights or responsibilities of a developer in connection with any timeshare plan or vacation club with respect to which an application for a timeshare or vacation club permit is pending.
History —Dec. 26, 1995, No. 252, § 11-101.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XI - Powers of Company (§§ 1261 — 1261h) › § 1261a - Investigative powers

(1) The Company may initiate such public or private investigations as it deems necessary, either within or outside Puerto Rico, in order to determine whether any person has violated or is about to violate any provision of this chapter or any regulation promulgated hereunder, or to aid in the enforcement thereof. In addition, the Company may conduct hearings within Puerto Rico to determine whether any representation contained in any document filed with or information provided to the Company is false or misleading or whether any person has engaged, is engaging, or is about to engage in any unlawful act or practice.
(2) For the purpose of any investigation or proceeding under this chapter, the director of the Company or any officer designated by the director may administer oaths and affirmations, subpoena witnesses, compel their attendance, gather evidence, and require the production of any books, papers, correspondence, memoranda, agreements, or other documents or records which the Company deems relevant or material to its inquiry. If any person involved in proceedings before the Company disobeys or resists any lawful order or refuses to respond to a subpoena or to take an oath or affirmation as a witness, or thereafter refuses to be examined or is guilty of misconduct during the hearing or so near the place thereof as to obstruct the proceeding, the Company shall certify the relevant facts to an appropriate court of competent jurisdiction. Such court may thereupon issue an order directing the person to appear before the court and show cause why he or she should not be punished for contempt. The order and a copy of the certified statement shall be served on the person. Thereafter, the court shall have jurisdiction over the matter. The same proceeding shall be had, the same penalties may be imposed, and the person charged may purge himself or herself of the contempt in the same way, as in the case of a person who has committed contempt in the trial of a civil action before a court in Puerto Rico.
(3) The Company may require or permit any person to file a statement in writing, under oath or otherwise, as to all facts and circumstances concerning a matter being or to be investigated.
History —Dec. 26, 1995, No. 252, § 11-102.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XI - Powers of Company (§§ 1261 — 1261h) › § 1261c - Revocation or suspension of timeshare or vacation club permit

The Company may, following the issuance of a cease and desist order pursuant to § 1261b of this title, and if no hearing has been requested to contest the order within the time frame permitted, or if the developer has unsuccessfully exhausted all administrative remedies available to contest the order, by order, revoke or suspend a timeshare or vacation club permit. After exhausting all administrative remedies available, the developer may petition for judicial review consistent with the regulations to be issued hereunder in conformity with the provisions of §§ 2101 et seq. of Title 3, known as the “Puerto Rico Uniform Administrative Procedures Act”.
History —Dec. 26, 1995, No. 252, § 11-104.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XI - Powers of Company (§§ 1261 — 1261h) › § 1261d - Judicial review

Every final order, decision, or other official act of the Company is subject to judicial review in accordance with the laws of Puerto Rico.
History —Dec. 26, 1995, No. 252, § 11-105.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XI - Powers of Company (§§ 1261 — 1261h) › § 1261e - Penalties

(1) Except as otherwise expressly provided herein, any person who willfully violates any of the provisions of this chapter or any regulation promulgated or order issued hereunder shall be guilty of a violation punishable as a misdemeanor. Each such violation shall be deemed a separate offense. For purposes of this section, a willful violation shall be deemed to have occurred when the person committing or responsible for the violation knew or reasonably should have known that his conduct was violative of any provision of this chapter or any applicable regulation or order.
(2) If, upon investigation by the Company, a person is determined to have violated this chapter or any regulation promulgated or order issued hereunder, the Company shall inform such person of the violation by certified mail, return receipt requested, and may assess a monetary fine which shall not exceed ten thousand dollars ($10,000) for each violation. The Company, in the name of Puerto Rico, may initiate legal proceedings in an appropriate court of competent jurisdiction in order to enforce payment of any such monetary fine that is not paid within ten (10) calendar days following the Company’s giving of such notice.
History —Dec. 26, 1995, No. 252, § 11-106.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XI - Powers of Company (§§ 1261 — 1261h) › § 1261f - Punishment of violations under other statutes

Nothing in this chapter limits the power of Puerto Rico to punish any person for any conduct which constitutes a violation under any other statute. Nothing contained in §§ 1261—1261h of this title limits the other powers of the Company expressly granted in other articles of this chapter.
History —Dec. 26, 1995, No. 252, § 11-107.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XI - Powers of Company (§§ 1261 — 1261h) › § 1261g - Waiver of requirement—Agency powers

(1) The Company may waive specific requirements or may allow alternative arrangements to the requirements of this chapter, or any regulation promulgated pursuant to it if:
(a) Compliance with specific provisions are impractical or impossible;
(b) any person will suffer severe hardship if strict compliance is required, and
(c) adequate protection for owners of timeshares, vacation club rights and accommodations will be maintained.
(2) Any alternative arrangements must be in keeping with the policies of this chapter, including the orderly development of timeshare projects and vacation clubs and purchaser protection, and shall take into account the following factors:
(a) The number of owners and/or living accommodations comprising the timeshare or vacation club property;
(b) the laws of the jurisdiction in which the timeshare or vacation club property is located;
(c) the number of owners who are residents of Puerto Rico in relation to the total number of owners;
(d) the number of timeshares or vacation club rights sold before the effective date of this act;
(e) the net worth, liquidity and other financial ability of the developer, and
(f) Any other factor the Company finds relevant to permitting an alternative arrangement.
History —Dec. 26, 1995, No. 252, § 11-108.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XI - Powers of Company (§§ 1261 — 1261h) › § 1261h - Consumer complaints

Any purchaser or owner of a timeshare, vacation club right or accommodation who understands that his rights under this law have been violated may file the corresponding complaint in the Department of Consumer Affairs, which will proceed to consider the same in accordance with the powers and authority granted to it by law. In every proceeding commenced by a purchaser or owner of a timeshare, vacation club right or accommodation in the Department of Consumer Affairs, the Company may be deemed [an] indispensable party.
History —Dec. 26, 1995, No. 252, § 11—109.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1262 - Applicability

The provisions of §§ 1262—1268e of this title are applicable only to the whole of accommodations and facilities whose developer is subject to the provisions of this chapter in which case, said developer shall dedicate the subject property to the timeshare or vacation club regime established herein, setting it forth in a public deed which shall be recorded in the Registry of Property.
Once dedicated, the timeshare or vacation club regime may only be modified or terminated with the express conformity of the Company which shall make sure that the provisions of this chapter with respect to such modification or termination have been satisfied and that the rights of the owners are not violated by such modification or termination; Provided, however, That the Company may by regulation establish a list of amendments which do not fundamentally affect the nature of the timeshares, vacation club rights and accommodations sold, the participation respectively assigned thereto or the definition of common expenses, and which do not entail deletion of facilities or other amenities or addition of facilities or other amenities other than at developers sole cost and expense, which modifications shall be exempt from the requirement of the express conformity of the Company referred to above.
The timeshare or vacation club regime may be established on real property situated on land held by recorded lease, surface right or usufruct provided that, through a public deed to that effect, the lessor or owner in fee simple gives his express consent and waives any action or claim he may institute against the owners in case of nonperformance of the lessee’s, surface right holder’s or original usufructuary’s obligations.
The deed dedicating the property to the timeshare or vacation club regime shall, except as otherwise provided for in § 1264(2)(d) of this title, clearly and precisely state the use to which all the area included in the real property and dedicated to the regime shall be devoted and once it is established, said use may only be changed by the developer prior to the sale of any timeshares, vacation club rights or accommodations or by the consent of the developer and the affirmative vote of sixty-six and two-thirds percent (66 2 / 3 %) of the voting power of all owners.
The provisions of § 1262a with respect to inscription in the Registry of Property; those of §§ 1262b through 1262f, both inclusive; §§ 1262h; 1262i; 1264a; 1264b; and §§ 1265—1266f, both inclusive, shall not be applicable to timeshares, vacation club rights or accommodations of a contractual nature.
History —Dec. 26, 1995, No. 252, § 12-101; July 5, 1996, No. 66, § 31; Jan. 5, 1999, No. 3, § 32.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1262a - Effect of dedication

Once the property is dedicated to the timeshare or vacation club regime, the timeshares or vacation club rights and, subject to the limitations set forth in this chapter, the accommodations, may be individually conveyed and encumbered and be the object of ownership or possession, and of all types of juridic acts inter vivos or mortis causa , entirely independent of:
(1) The rest of the property of which they are a part (in the case of the accommodations), and
(2) of the accommodations (in the case of the timeshares and vacation club rights), and the corresponding titles may be recorded in the Registry of Property according to the provisions of this chapter and of §§ 2001 et seq. of Title 30, known as the “Mortgage and Property Registry Act”.
History —Dec. 26, 1995, No. 252, § 12-102; Jan. 5, 1999, No. 3, § 33.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1262a-1 - Effect of recording subordination agreement

Once recorded in the Registry of Property, a subordination agreement shall be effective against the subordinating lienholder’s successors and assigns and any other person who acquires the accommodation, facility, timeshare or vacation club right subject to the lienholder’s rights through foreclosure, by deed in lieu of foreclosure or by any other legal means, irrespective of whether the rights of the owner with respect to the accommodation, facility, timeshare or vacation club right is of the type coupled with a special property right or not.
History —Dec. 26, 1995, No. 252, added as § 12-102A on July 5, 1996, No. 66, § 32.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1262b - Effect of conveyance or encumbrance and subrogation of rights; accommodations planned and not begun

In the event of a conveyance or encumbrance of: (i) an accommodation that has been planned, but is not yet under construction; or (ii) a timeshare or vacation club right with respect to such accommodation, there shall be deemed to be acquired by the new owner or by the encumbrancer, as applicable, the share corresponding to the conveyor or to the debtor in the proper case, in the facilities, and the corresponding right to have the accommodation constructed; and the acquirer shall be understood to be subrogated in the rights and to the extent of the conveyer for all legal purposes.
History —Dec. 26, 1995, No. 252, § 12-103.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1262c - Accommodation under construction

In the case of a conveyance or encumbrance of: (i) an accommodation already under construction, or (ii) a timeshare or vacation club right with respect to such accommodation, the shares to which § 1262b of this title refers shall be deemed acquired or encumbered, and the part already constructed of the accommodation in question shall be deemed individually acquired or encumbered, as applicable, the acquirer also being subrogated in the rights and to the extent of the conveyer for all legal purposes.
History —Dec. 26, 1995, No. 252, § 12-104.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1262d - Mortgage credits constituted before or after dedication to timeshare or vacation club regime; consent of owners

The mortgagee of the mortgage credits constituted before the property is dedicated to the timeshare or vacation club regime, at the time of bringing action for collection, shall direct the action simultaneously, for the total sum secured, against all the owners of the accommodations that are encumbered. If said credits are constituted after the property has been submitted to the timeshare or vacation club regime, the same shall be distributed as prescribed in § 2566 of Title 30, among the encumbered accommodations already constructed; and in the case of accommodations merely planned or already under construction, the credits shall be distributed among the shares or rights recorded, in accordance with §§ 1262b and 1262c of this title.
The facilities of a property dedicated to the timeshare or vacation club regime may only be mortgaged by the consent of the developer and the affirmative vote of sixty-six and two-thirds percent (66 2 / 3 %) of the voting power of all owners. In the case of timeshare plans or vacation clubs structured exclusively on the basis of contractual right to use, the affirmative vote of the owner shall not be required if the mortgage to be established is to be subordinated to the rights of these owners in accordance with the provisions of §§ 1254–1254b of this title.
History —Dec. 26, 1995, No. 252, § 12-105; July 5, 1996, No. 66, § 33.
2023 Laws of Puerto Rico › TITLE THIRTY-ONE - Civil Code (§§ 1 — 5305) › Subtitle 2 - Property Ownership and Its Modifications (§§ 1021 — 1875) › PART II-A - Timeshare (§§ 1251 — 1269d) › Chapter 147 - Puerto Rico Timeshare and Vacation Club Act (§§ 1251 — 1269d) › Subchapter XII - Rights of Owners; Contents of Deeds; Recording Provisions; Expansion, Contraction and Merger of Regimes (§§ 1262 — 1268f) › § 1262e - Right of owner to his accommodation and share in facilities

An owner of an accommodation shall have an exclusive right (subject to use restrictions) to his accommodation and to the share, with the other owners of accommodations (inclusive of timeshare or vacation club rights created in accommodations), in the facilities of the timeshare or vacation club property allotted to his accommodation in the deed of dedication to the timeshare or vacation club regime, as the same may be subsequently amended, modified or supplemented; Provided, however, [That] the total of all shares allocated among all accommodations in the timeshare or vacation club regime in accordance with the provisions of this section shall add up to one hundred percent (100%).
History —Dec. 26, 1995, No. 252, § 12-106.