August 17, 2017

SB 13-182: Amending Provisions of the Colorado Consumer Protection Act Relating to Time Share Transactions

On Tuesday, February 19, 2013, Sen. Jeanne Nicholson introduced SB 13-182 – Concerning Deceptive Trade Practices Related to Time Share Resale Services. This summary is published here courtesy of the Colorado Bar Association’s e-Legislative Report.

The bill amends provisions of the “Colorado Consumer Protection Act” relating to time share transactions and, in particular, transactions involving resale time shares. The bill requires entities that provide time share resale services to disclose specified information about the services to the owner of the resale time share, and makes failure to disclose the information a deceptive trade practice. A time share resale entity is prohibited from knowingly transferring or offering to transfer, or receiving compensation in connection with a transfer of, a resale time share to a transferee who is unable or does not intend to fulfill the obligations of ownership. A person injured by a violation of the requirements relating to time share resale services may bring an action for damages within three years after discovering the violation.

The bill defines specified activities as deceptive trade practices in the advertisement or sale of a time share or the provision of a time share resale service.

The bill defines the following terms: “Resale time share,” “time share resale entity,” “time share resale service,” and “time share resale transfer agreement.” On March 8, the bill passed 2nd Reading in the Senate.

Since this summary, the bill passed the Senate on Third Reading and was introduced in the House. It is assigned to the Business, Labor, Economic, & Workforce Development Committee.