Florida Administrative Code › 61 - DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION › 61B - Division of Florida Condominiums, Timeshares and Mobile Homes › Chapter 61B-39 - FILING REQUIREMENTS FOR PUBLIC OFFERING STATEMENTS › Section 61B-39.001 - Definitions

Current through Reg. 50, No. 138; July 16, 2024
For purposes of Sections 721.07, 721.55, and 721.551, Florida
				  Statutes, and these rules, the following definitions apply:
(1) "Alternative media" means any visually or
				audibly perceptible and legible display format which may require the use of a
				device or a machine to be viewed, including CD-ROM, microfilm, electronically
				transferred data, computer disk, computer or electronic memory, cassette tape,
				compact disk or video tape.
(2)
				"Any change to an approved filing" for purposes of Section 721.07(3)(a)1.,
				Florida Statutes, means any actual or physical fact or circumstance which would
				render any part of the approved registered POS false or misleading, whether or
				not such fact or circumstance was within the developer's control.
(3) "Approved Amendment" for purposes of
				Section 721.07(3)(a)2., Florida Statutes, is an amendment, approved by the
				division, to that portion of the registered POS that constitutes the purchaser
				POS required to be delivered to an individual purchaser pursuant to Section
				721.07(6) or
				721.551, Florida Statutes, and
				these rules.
(4) "Approved by the
				division" for purposes of Chapter 61B-39, F.A.C., means that the division has
				approved the filing or amendment pursuant to Section
				721.07, Florida
				Statutes.
(5) "Business days" for
				purposes of these rules means every day that is not a Saturday, Sunday, or
				holiday for employees of the State of Florida.
(6) "Days" shall be calculated in the
				following manner: The day of the act, event, or default from which the
				designated period of time begins to run shall not be included. The last day of
				the period so computed shall be included unless it is a Saturday, Sunday, or
				legal holiday, in which event the period shall run until the end of the next
				day which is neither a Saturday, Sunday, or legal holiday.
(7) "Filed with the division" means that
				written materials have been received by the division in the Tallahassee,
				Florida, office and the date of receipt shall constitute the date of
				filing.
(8) "Initial purchase
				price" means the price of the timeshare period not including title insurance,
				maintenance fees, exchange company management fees, costs of recordation,
				documentary stamp fees, or other similar costs.
(9) "Notify, " for purposes of Sections
				721.06(1)(g)
				and 721.065(2)(c),
				Florida Statutes, shall mean that a written notice of cancellation is
				delivered, by any means which may include certified mail return receipt
				requested, to the entity designated to receive the notice of cancellation in
				the statement required by Sections
				721.06(1)(g) or
				721.065(2)(c),
				Florida Statutes.
(10) "Other
				required parties" means the timeshare purchasers, managing entity, the board of
				directors of the owners' association, or similar person or entity.
(11) "POS" means the public offering
				statement, as defined in Chapter 721, Florida Statutes. The terms "public
				offering statement" and "POS" shall refer to both a registered POS and a
				purchaser POS, unless these rules or the context requires otherwise.
(12) "Receipt" or "received" for purposes of
				Sections 721.07(2),
				721.07(3), and
				721.55, Florida Statutes, means
				that an original hard copy has been physically received by the division in the
				format required by these rules. No other form of submission shall be considered
				received for purposes of these rules. A date-stamp shall be evidence of
				receipt.
(13) "Single-site" or
				"single-site timeshare plan" means a timeshare plan, as defined in Section
				721.05, Florida Statutes, that
				is not subject to the requirements of Sections
				721.55 or
				721.551, Florida
				Statutes.
(14) "Specified
				deficiencies" means deficiencies which have been specified by reference to the
				statutory section or subsection violated, but the term does not require a
				reference to the paragraph or language of the statute violated or the means or
				language by which the statutory deficiency may be corrected.
(15) "Substantially complied" as used in
				Sections 721.07(5)(gg)
				and 721.55(5),
				Florida Statutes, means that:
(a) The
				information required in Section
				721.07 or
				721.55(5),
				Florida Statutes, or these rules if applicable, has been filed with the
				division;
(b) The information has
				been filed in the format required in these rules if applicable; and
(c) The purchasers have been furnished a
				purchaser POS pursuant to Section 721.07(6) or 721.551, Florida Statutes, and
				these rules.