(765 ILCS 101/10-25)
Sec. 10-25. Liability; material misrepresentation; promotions.
(a) A developer or other person offering a timeshare plan may not do any of the following:
(1) Misrepresent a fact material to a purchaser's
decision to buy a timeshare interest.
(2) Predict specific or immediate increases in the
value of a timeshare interest represented over a period of time, excluding bona fide pending price increases by the developer.
(3) Materially misrepresent the qualities or
characteristics of accommodations or the amenities available to the occupant of those accommodations.
(4) Misrepresent the length of time accommodations
or amenities will be available to the purchaser of a timeshare interest.
(5) Misrepresent the conditions under which a
purchaser of a timeshare interest may exchange the right of his or her occupancy for the right to occupy other accommodations.
(b) A developer or other person using a promotion in connection with the offering of a timeshare interest shall clearly disclose all of the following:
(1) That the purpose of the promotion is to sell
timeshare interests, which shall appear in bold face or other conspicuous type.
(2) That any person whose name or address is
obtained during the promotion may be solicited to purchase a timeshare interest.
(3) The name of each developer or other person
trying to sell a timeshare interest through the promotion, and the name of each person paying for the promotion.
(4) The complete rules of the promotion.
(5) The method of awarding prizes, gifts, vacations,
discount vacations, or other benefits under the promotion; a complete and fully detailed description, including approximate retail value, of all prizes, gifts, or benefits under the promotion; the quantity of each prize, gift, or benefit to be awarded or conferred; and the date by which each prize, gift, or benefit will be awarded or conferred.
(6) Any other disclosures provided by rule.
(c) If a person represents that a prize, gift, or benefit will be awarded in connection with a promotion, the prize, gift, or benefit must be awarded or conferred in the manner represented, and on or before the date represented.
(d) A developer or other person using a promotion in connection with the offering of a timeshare interest shall provide the disclosures required by this Section in writing or electronically to the prospective purchaser at least once before the earlier of (1) a reasonable period before the scheduled sales presentation to ensure that the prospective purchaser receives the disclosures before leaving to attend the sales presentation or (2) the payment of any nonrefundable monies by the prospective purchaser in regard to the promotion.
(e) A developer or other person using a promotion in connection with the offering of a timeshare interest is not required to provide the disclosures required by this Section in every advertisement or other written, oral, or electronic communication provided or made to a prospective purchaser.
(Source: P.A. 96-738, eff. 8-25-09.)
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Last modified: February 18, 2015