H0897: Timeshare Plan Management

Legislative Summary

Revises applicability for provisions governing conflicts of interest between community association managers or community association management firms & certain persons with financial interest in such associations; removes provision requiring managing entities that perform community association management to comply with certain provisions related to community association management firms; requires timeshare management firms & individuals employed by timeshare management firms to discharge their duties in good faith; exempts such firms & individuals from liability for monetary damages; requires board of administration of timeshare condominium to meet once per year; requires disclosure of certain information annually to certain persons if timeshare management firm or owners' association provides goods & services through specified entities; specifies manner in which such disclosure must be made.