Florida Administrative Code › 61 - DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION › 61B - Division of Florida Condominiums, Timeshares and Mobile Homes › Chapter 61B-41 - TIMESHARE PENALTIES › Section 61B-41.003 - Penalty Guidelines

Current through Reg. 50, No. 138; July 16, 2024
The following penalty guidelines are established for each
				  violation:
STATUTE/RULE
GENERAL
							 DESCRIPTION
PENALTY per violation
							 (Priors)
PART I VACATION PLANS AND
							 TIMESHARING
Section
							 721.056, F.S.;
Rule Chapters 61B-37; 61B-39; 61B-40, F.A.C.
Developer's supervisory duties
2, 500(0), 3, 500(1)
5, 000(1+)
Section
							 721.06, F.S.;
Rules
							 61B-39.002;
							 61B-39.003;
61B-39.007, F.A.C.
Purchase contracts
$2, 500(0)
$3, 500(1)
$5, 000(1+)
Section
							 721.06(4),
							 F.S.
One to one ratio
$5, 000
Section
							 721.065, F.S.;
Rule
							 61B-39.002, F.A.C.
Resale purchase contract
$1, 000(0)
$2, 000(1)
$3, 500(1+)
Section
							 721.07, F.S.
Public offering statement rejection/revocation
$5, 000/POS-
Use of unapproved
$5, 000(0)
Public Offering Statement
$10, 000(1+)
Section
							 721.07(6),
							 F.S.
Failure to deliver
$10, 000
Section
							 721.07(5),
							 F.S.
contents, maintenance
$2, 500
Rules
							 61B-39.002;
							 61B-39.003;
61B-39.004;
							 61B-39.007;
							 61B-39.008;
							 61B-40.003;
							 61B-40.004;
							 61B-40.006;
							 61B-40.0061;
							 61B-40.0062, F.A.C.
POS-rejection/revocation
Section
							 721.075, F.S.;
Paragraph
							 61B-39.007(6)(e),
							 F.A.C.
Incidental benefits
$1, 000(0)
$2, 000(1)
$3, 000(1+)
Section
							 721.08, F.S.; Paragraphs
61B-39.003(4)(c);
							 61B-39.005(5)(c);
							 61B-39.007(6)(e),
							 F.A.C.
Escrow accounts; nondisturbance instruments;
							 alternate security arrangements
$5, 000(0)
$7, 500(1)
$10, 000(1+)
Section
							 721.09, F.S.
Reservation agreements; escrows
$1, 000(0)
$2, 000(1)
$5, 000(1+)
Section
							 721.10, F.S.
Cancellation; termination
$5, 000
$7, 500
$10, 000
Section
							 721.11(1), (5),
							 F.S.;
Subsection
							 61B-37.004(3),
							 F.A.C.
Advertising materials and disclosures
$3, 500(0)
$5, 000(1)
$10, 000(1+)
Section
							 721.11(4),
							 F.S.;
Rule
							 61B-37.002, F.A.C.
Misrepresentations; inducements; referrals
$2, 500(0)
$5, 000(1)
$10, 000(1+)
Section
							 721.111, F.S.;
Rule
							 61B-37.004, F.A.C.
Promotional offers
$3, 500(0)
$5, 000(1)
$10, 000(1+)
Section
							 721.12, F.S.
Sellers' record keeping
$1, 000(0)
$2, 000(1)
$5, 000(1+)
Section
							 721.13, F.S.; Rules
							 61B-40.003;
							 61B-40.004;
							 61B-40.005;
							 61B-40.006, F.A.C.
Management; CAM license; books & records;
							 lockout; quorum
$1, 000(0)
$2, 000(1)
$5, 000(1+)
Rule
							 61B-40.0061, F.A.C.
Reserve funding
$2, 000(0)
$3, 500(1)
$5, 000(1+)
Section
							 721.13(2)(a),
							 F.S.; and
Rule
							 61B-40.004, F.A.C.
Fiduciary Duty as separate and distinct from other
							 violations
$10, 000
Section
							 721.13(3)(e),
							 F.S.; and
Rule
							 61B-40.007, F.A.C.
Annual audit failure to arrange failure to
							 file
$2, 500(0)
$3, 500(1)
$5, 000(1+)
$2, 500(0)
$3, 500(1)
$5, 000(1+)
Section
							 721.13(3)(f),
							 F.S.
Inspection of books
$2, 500
Receipts and disbursements
$1, 000(0)
$1, 500(1)
$2, 000(1+)
Sections
							 721.13(3)(i)
							 and 192.037(6)(e),
							 721.15, F.S.; Rules
							 61B-40.004;
							 61B-40.005;
							 61B-40.006;
							 61B-40.0061;
							 61B-40.0062, F.A.C.
Assessments; guarantees, common expenses;
							 billing
$1, 000 (0)
$2, 000 (1)
$5, 000 (1+)
Failure to pay Assessments on Developer owned
							 units
$10, 000
Section
							 721.15(8),
							 F.S.
Commingling
$5, 000
Section
							 721.165, F.S.;
Paragraph
							 61B-39.007(6)(f),
							 F.A.C.
Insurance disclosure
$10, 000
$1, 000
Section
							 721.17, F.S.
Transfer of interest
$5, 000
Section
							 721.18(1),
							 F.S.
Exchange programs
Failure to provide written documents
$5, 000(0)
$10, 000(1+)
Section
							 721.18(5),
							 F.S.
Unfair deceptive act or practice
$5, 000(0)
$10, 000(1+)
Section
							 721.20(1),
							 F.S.
Broker licensing
$5, 000
Section
							 721.20(2),
							 F.S.;
Section
							 721.20(4),
							 F.S.
Solicitor licensing
Advance fees
$10, 000
Section
							 721.26(7)(a),
							 F.S.
Exchange Company Deceptive act or practice
$5, 000(0)
$10, 000(1+)
Section
							 721.27, F.S.
Managing entity fees to statutory late fee
$1, 000 in addition
PART II VACATION
							 CLUBS
Section
							 721.53, F.S.;
Rule
							 61B-39.003, F.A.C.
Subordination instruments
$10, 000
Subsection
							 61B-39.005(7),
							 F.A.C.
Security arrangements
$3, 000(0)
$5, 000(1)
$10, 000(1+)
Section
							 721.54, F.S.
Multisite term
$5, 000
Section
							 721.55, F.S.
Public Offering Statement
rejection/revocation
Use of unapproved
$5, 000/POS
$5, 000(0)
$10, 000(1+)
Section
							 721.55, F.S.; Rules
							 61B-39.002;
							 61B-39.005;
							 61B-39.007;
							 61B-39.008, F.A.C.
Public offering statement contents,
							 maintenance
$5, 000
Section
							 721.551, F.S.; Rules
							 61B-39.002;
							 61B-39.006;
							 61B-39.007;
							 61B-39.008, F.A.C.
Failure to deliver public offering statement
$10, 000
Section
							 721.552, F.S.;
Subsection
							 61B-39.007(9),
							 F.A.C.
Change in component site accommodations &
							 facilities
$5, 000
Sections
							 721.552(1)(b),
							 (2)(g), F.S.
Fiduciary duty
$10, 000
Section
							 721.553, F.S.
Portrayal of component sites
$1, 000(0)
$2, 000(1)
$5, 000(1+)
Rule
							 61B-37.002, F.A.C.
misrepresentations
$2, 500(0)
$3, 500(1)
$5, 000(1+)
Sections
							 721.56(1), (2),
							 F.S.;
Paragraph
							 61B-39.005(5)(e),
							 F.A.C.
Management rejection/revocation
$5, 000/POS-
Section
							 721.56(3),
							 F.S.;
Escrow accounts
$3, 000(0)
$5, 000(1)
$10, 000(1+)
Paragraph
							 61B-39.007(6)(e),
							 F.A.C.
amendment disclosures
$1, 000
Section
							 721.56(5),
							 F.S.;
Reservation system
$5, 000
Subsection
							 61B-39.005(7),
							 F.A.C.
filing
$2, 500
Section 721.56(6);
Developer duties
$10, 000
Subsection
							 61B-39.005(7),
							 F.A.C.
filing
$2, 500
Section
							 721.57, F.S.
Multisite disclosures
$5, 000
Section
							 721.58(1),
							 F.S.
Filing fee
rejection
Section
							 721.58(2),
							 F.S.
Managing entity fees to statutory late fees
$1, 000 in addition
NOTE: The designation of (0) means no prior
				  violations;
(1) means one prior violation; and (1+) means more than one
				  prior violation.
Rulemaking Authority
					 721.26(6) FS.
					 Law Implemented 721.26(5)(e)
					 FS.
New 2-4-98, Amended
					 10-12-17.