(765 ILCS 101/1-30)
Sec. 1-30. Creation of timeshare plans. A timeshare plan may be created in any accommodation unless otherwise prohibited. All timeshare plans must maintain a one-to-one purchaser-to-accommodation ratio, which means the ratio of the number of purchasers eligible to use the accommodations of a timeshare plan on a given day to the number of accommodations available for use within the plan on that day, such that the total number of purchasers eligible to use the accommodations of the timeshare plan during a given calendar year never exceeds the total number of accommodations available for use in the timeshare plan during that year. For purposes of the calculation under this Section, each purchaser must be counted at least once, and no individual accommodation may be counted more than 365 times per calendar year (or more than 366 times per leap year). A purchaser who is delinquent in the payment of timeshare plan assessments shall continue to be considered eligible to use the accommodations of the timeshare plan for purposes of calculating the one-to-one purchaser-to-accommodation ratio.
(Source: P.A. 91-585, eff. 1-1-00.)
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Last modified: February 18, 2015