ARDA, RCI oppose timeshare homeowner democracy legislation

[Carolinian Super Moderator Find all posts View Profile Close Carolinian]

One other right under non-profit corporation law in most states is the right of any member to inspect and copy corporate records. You have to make a formal demand and actually go to the resort. They do not have to, and rarely will copy them and send them to you. But they are supposed to let you see most records, including board minutes, financial records, etc.

[MaryH Senior Member Find all posts View Profile Close MaryH]

Thanks Carolinian,

I asked for the budget and several other owner but we been brushed off saying too busy with jazz Fest, don't have it handy, etc... Someone is following up with a call for the resort since they had been promised one after rush is over but no sign after 6 weeks.

With some idea from you, I did some searching and found the LA laws.. (See below)
http://www.legis.state.la.us/lss/lss.asp?doc=106610

So they already failed (1) since they have never provided information on receipt and income.


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J. Managing entities and their agents shall act in the capacity of a fiduciary to the timeshare owners. In this connection they shall:

(1) Provide each year to all owners an itemized annual budget, which shall include all receipts and expenditures.

(2) Maintain all books and records concerning the timeshare plan and make all such books and records reasonably available for inspection by any owner or the authorized agent of such owner.

(3) Arrange for an annual independent audit of all the books and financial records of the timeshare plan by a certified public accountant in accordance with generally accepted auditing standards. A copy of the audit shall be forwarded to the officers of the association; or, if no association exists, the owner of each timeshare interest shall be notified that such audit is available upon request.

(4) Make available for inspection any books and records of the timeshare plan upon request of the Louisiana Real Estate Commission.

(5) Schedule occupancy of the timeshare units, when owners are not entitled to use specific timeshare periods, so that all owners will be provided the use and possession of the accommodations of the timeshare plan which they have purchased.

(6) Perform any other functions and duties which are necessary and proper to maintain the timeshare property as provided in the timeshare documents.

(7) Any person who willfully misappropriates the property or funds of an association shall be guilty of theft.

[1SOKCO Junior Member Find all posts View Profile Close 1SOKCO]

How can I locate the information on the proposed bill? We have been fighting for years to get the owners list for the Sands of Kahana on Maui.

[Carolinian Super Moderator Find all posts View Profile Close Carolinian]

How can I locate the information on the proposed bill? We have been fighting for years to get the owners list for the Sands of Kahana on Maui.

My information on the bill comes from the article in Timesharing Today magazine. I suggest you contact Shep at www.tstoday.com .

There needs to be a blitz of letters from individual timesharers to the Hawaii legislators on this bill to counteract the special interests trying to preserve their power who are opposing it.