61B-41.003. Penalty Guidelines

Effective on Thursday, October 12, 2017

1The following penalty guidelines are established for each violation:

10STATUTE/RULE	11GENERAL DESCRIPTION	13PENALTY per violation (Priors)
17PART I VACATION PLANS AND TIMESHARING
23Section 24721.056, F.S.; 26Rule Chapters 61B-37; 61B-39; 61B-40, F.A.C.	32Developer’s supervisory duties	352,500(0), 3,500(1) 395,000(1+)
41Section 42721.06, F.S.; 44Rules 4561B-39.002; 4661B-39.003; 4761B-39.007, 48F.A.C.	49Purchase contracts	51$2,500(0) 53$3,500(1) 55$5,000(1+)
57Section 58721.06(4), F.S.	60One to one ratio	64$5,000
66Section 67721.065, F.S.; 69Rule 7061B-39.002, 71F.A.C.	72Resale purchase contract	75$1,000(0) 77$2,000(1) 79$3,500(1+)
81Section 82721.07, F.S.	84Public offering statement rejection/revocation	88$5,000/POS-
	90Use of unapproved	93$5,000(0)
	95Public Offering Statement	98$10,000(1+)
100Section 101721.07(6), F.S.	103Failure to deliver	106$10,000
108Section 109721.07(5), F.S.	111contents, maintenance	113$2,500
115Rules 11661B-39.002; 11761B-39.003; 11861B-39.004; 11961B-39.007; 12061B-39.008; 12161B-40.003; 12261B-40.004; 12361B-40.006; 12461B-40.0061; 12561B-40.0062, 126F.A.C.	127POS-rejection/revocation
128Section 129721.075, F.S.; 131Paragraph 13261B-39.007(6)(e), 133F.A.C.	134Incidental benefits	136$1,000(0) 138$2,000(1) 140$3,000(1+)
142Section 143721.08, F.S.; 145Paragraphs 14661B-39.003(4)(c); 14761B-39.005(5)(c); 14861B-39.007(6)(e), 149F.A.C.	150Escrow accounts; nondisturbance instruments; alternate security arrangements	157$5,000(0) 159$7,500(1) 161$10,000(1+)
163Section 164721.09, F.S.	166Reservation agreements; escrows	169$1,000(0) 171$2,000(1) 173$5,000(1+)
175Section 176721.10, F.S.	178Cancellation; termination	180$5,000 182$7,500 184$10,000
186Section 187721.11(1), 188(5), F.S.; 190Subsection 19161B-37.004(3), 192F.A.C.	193Advertising materials and disclosures	197$3,500(0) 199$5,000(1) 201$10,000(1+)
203Section 204721.11(4), F.S.; 206Rule 20761B-37.002, 208F.A.C.	209Misrepresentations; inducements; referrals	212$2,500(0) 214$5,000(1) 216$10,000(1+)
218Section 219721.111, F.S.; 221Rule 22261B-37.004, 223F.A.C.	224Promotional offers	226$3,500(0) 228$5,000(1) 230$10,000(1+)
232Section 233721.12, F.S.	235Sellers’ record keeping	238$1,000(0) 240$2,000(1) 242$5,000(1+)
244Section 245721.13, F.S.; 247Rules 24861B-40.003; 24961B-40.004; 25061B-40.005; 25161B-40.006, 252F.A.C.	253Management; CAM license; books & records; lockout; quorum	261$1,000(0) 263$2,000(1) 265$5,000(1+)
267Rule 26861B-40.0061, 269F.A.C.	270Reserve funding	272$2,000(0) 274$3,500(1) 276$5,000(1+)
278Section 279721.13(2)(a), F.S.; 281and 282Rule 28361B-40.004, 284F.A.C.	285Fiduciary Duty as separate and distinct from other violations	294$10,000
296Section 297721.13(3)(e), F.S.; 299and 300Rule 30161B-40.007, 302F.A.C.	303Annual audit failure to arrange failure to file	311$2,500(0) 313$3,500(1) 315$5,000(1+) 317$2,500(0) 319$3,500(1) 321$5,000(1+)
323Section 324721.13(3)(f), F.S.	326Inspection of books	329$2,500
	331Receipts and disbursements	334$1,000(0) 336$1,500(1) 338$2,000(1+)
340Sections 341721.13(3)(i) 342and 343192.037(6)(e), 344721.15, F.S.; 346Rules 34761B-40.004; 34861B-40.005; 34961B-40.006; 35061B-40.0061; 35161B-40.0062, 352F.A.C.	353Assessments; guarantees, common expenses; billing	358$1,000 (0) 361$2,000 (1) 364$5,000 (1+)
	367Failure to pay Assessments on Developer owned units	375$10,000
377Section 378721.15(8), F.S.	380Commingling	381$5,000
383Section 384721.165, F.S.; 386Paragraph 38761B-39.007(6)(f), 388F.A.C.	389Insurance disclosure	391$10,000 393$1,000
395Section 396721.17, F.S.	398Transfer of interest	401$5,000
403Section 404721.18(1), F.S.	406Exchange programs 408Failure to provide written documents	413$5,000(0) 415$10,000(1+)
417Section 418721.18(5), F.S.	420Unfair deceptive act or practice	425$5,000(0) 427$10,000(1+)
429Section 430721.20(1), F.S.	432Broker licensing	434$5,000
436Section 437721.20(2), F.S.; 439Section 440721.20(4), F.S.	442Solicitor licensing 444Advance fees	446$10,000
448Section 449721.26(7)(a), F.S.	451Exchange Company Deceptive act or practice	457$5,000(0) 459$10,000(1+)
461Section 462721.27, F.S.	464Managing entity fees to statutory late fee	471$1,000 in addition
475PART II VACATION CLUBS
479Section 480721.53, F.S.; 482Rule 48361B-39.003, 484F.A.C.	485Subordination instruments	487$10,000
489Subsection 49061B-39.005(7), 491F.A.C.	492Security arrangements	494$3,000(0) 496$5,000(1) 498$10,000(1+)
500Section 501721.54, F.S.	503Multisite term	505$5,000
507Section 508721.55, F.S.	510Public Offering Statement 513rejection/revocation 514Use of unapproved	517$5,000/POS 519$5,000(0) 521$10,000(1+)
523Section 524721.55, F.S.; 526Rules 52761B-39.002; 52861B-39.005; 52961B-39.007; 53061B-39.008, 531F.A.C.	532Public offering statement contents, maintenance	537$5,000
539Section 540721.551, F.S.; 542Rules 54361B-39.002; 54461B-39.006; 54561B-39.007; 54661B-39.008, 547F.A.C.	548Failure to deliver public offering statement	554$10,000
556Section 557721.552, F.S.; 559Subsection 56061B-39.007(9), 561F.A.C.	562Change in component site accommodations & facilities	569$5,000
571Sections 572721.552(1)(b), 573(2)(g), F.S.	575Fiduciary duty	577$10,000
579Section 721.553, F.S.	582Portrayal of component sites	586$1,000(0) 588$2,000(1) 590$5,000(1+)
592Rule 59361B-37.002, 594F.A.C.	595misrepresentations	596$2,500(0) 598$3,500(1) 600$5,000(1+)
602Sections 603721.56(1), 604(2), F.S.; 606Paragraph 60761B-39.005(5)(e), 608F.A.C.	609Management rejection/revocation	611$5,000/POS-
613Section 614721.56(3), F.S.;	616Escrow accounts	618$3,000(0) 620$5,000(1) 622$10,000(1+)
624Paragraph 62561B-39.007(6)(e), 626F.A.C.	627amendment disclosures	629$1,000
631Section 632721.56(5), F.S.;	634Reservation system	636$5,000
638Subsection 63961B-39.005(7), 640F.A.C.	641filing	642$2,500
644Section 645721.56(6);	646Developer duties	648$10,000
650Subsection 65161B-39.005(7), 652F.A.C.	653filing	654$2,500
656Section 657721.57, F.S.	659Multisite disclosures	661$5,000
663Section 664721.58(1), F.S.	666Filing fee	668rejection
669Section 670721.58(2), F.S.	672Managing entity fees to statutory late fees	679$1,000 in addition

683NOTE: The designation of (0) means no prior violations; (1) means one prior violation; and (1+) means more than one prior violation.

705Rulemaking Authority 707721.26(6) FS. 709Law Implemented 711721.26(5)(e) FS. 713History–New 2-4-98, Amended 10-12-17.

Rulemaking Events:

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