Fla. Admin. Code R. 61B-41.003
The following penalty guidelines are established for each violation:
STATUTE/RULE | GENERAL DESCRIPTION | PENALTY per violation (Priors) |
PART I VACATION PLANS AND TIMESHARING | ||
Section 721.056, F.S.; Rule Chapters 61B-37; 61B-39; 61B-40, F.A.C. | Developer's supervisory duties | 2, 500(0), 3, 500(1) 5, 000(1+) |
Section 721.06, F.S.; Rules 61B-39.002; 61B-39.003; 61B-39.007, F.A.C. | Purchase contracts | $2,500(0) $3,500(1) $5,000(1+) |
Section 721.06(4), F.S. | One to one ratio | $5,000 |
Section 721.065, F.S.; Rule 61B-39.002, F.A.C. | Resale purchase contract | $1,000(0) $2,000(1) $3,500(1+) |
Section 721.07, F.S. | Public offering statement rejection/revocation | $5,000/POS- |
Use of unapproved | $5,000(0) | |
Public Offering Statement | $10,000(1+) | |
Section 721.07(6), F.S. | Failure to deliver | $10,000 |
Section 721.07(5), F.S. | contents, maintenance | $2,500 |
Rules 61B-39.002; 61B-39.003; 61B-39.004; 61B-39.007; 61B-39.008; 61B-40.003; 61B-40.004; 61B-40.006; 61B-40.0061; 61B-40.0062, F.A.C. | POS-rejection/revocation | |
Section 721.075, F.S.; Paragraph 61B-39.007(6)(e), F.A.C. | Incidental benefits | $1,000(0) $2,000(1) $3,000(1+) |
Section 721.08, F.S.; Paragraphs 61B-39.003(4)(c); 61B-39.005(5)(c); 61B-39.007(6)(e), F.A.C. | Escrow accounts; nondisturbance instruments; alternate security arrangements | $5,000(0) $7,500(1) $10,000(1+) |
Section 721.09, F.S. | Reservation agreements; escrows | $1,000(0) $2,000(1) $5,000(1+) |
Section 721.10, F.S. | Cancellation; termination | $5,000 $7,500 $10,000 |
Section 721.11(1), (5), F.S.; Subsection 61B-37.004(3), F.A.C. | Advertising materials and disclosures | $3,500(0) $5,000(1) $10,000(1+) |
Section 721.11(4), F.S.; Rule 61B-37.002, F.A.C. | Misrepresentations; inducements; referrals | $2,500(0) $5,000(1) $10,000(1+) |
Section 721.111, F.S.; Rule 61B-37.004, F.A.C. | Promotional offers | $3,500(0) $5,000(1) $10,000(1+) |
Section 721.12, F.S. | Sellers' record keeping | $1,000(0) $2,000(1) $5,000(1+) |
Section 721.13, F.S.; Rules 61B-40.003; 61B-40.004; 61B-40.005; 61B-40.006, F.A.C. | Management; CAM license; books & records; lockout; quorum | $1,000(0) $2,000(1) $5,000(1+) |
Rule 61B-40.0061, F.A.C. | Reserve funding | $2,000(0) $3,500(1) $5,000(1+) |
Section 721.13(2)(a), F.S.; and Rule 61B-40.004, F.A.C. | Fiduciary Duty as separate and distinct from other violations | $10,000 |
Section 721.13(3)(e), F.S.; and Rule 61B-40.007, F.A.C. | Annual audit failure to arrange failure to file | $2,500(0) $3,500(1) $5,000(1+) $2,500(0) $3,500(1) $5,000(1+) |
Section 721.13(3)(f), F.S. | Inspection of books | $2,500 |
Receipts and disbursements | $1,000(0) $1,500(1) $2,000(1+) | |
Sections 721.13(3)(i) and 192.037(6)(e), 721.15, F.S.; Rules 61B-40.004; 61B-40.005; 61B-40.006; 61B-40.0061; 61B-40.0062, F.A.C. | Assessments; guarantees, common expenses; billing | $1,000 (0) $2,000 (1) $5,000 (1+) |
Failure to pay Assessments on Developer owned units | $10,000 | |
Section 721.15(8), F.S. | Commingling | $5,000 |
Section 721.165, F.S.; Paragraph 61B-39.007(6)(f), F.A.C. | Insurance disclosure | $10,000 $1,000 |
Section 721.17, F.S. | Transfer of interest | $5,000 |
Section 721.18(1), F.S. | Exchange programs Failure to provide written documents | $5,000(0) $10,000(1+) |
Section 721.18(5), F.S. | Unfair deceptive act or practice | $5,000(0) $10,000(1+) |
Section 721.20(1), F.S. | Broker licensing | $5,000 |
Section 721.20(2), F.S.; Section 721.20(4), F.S. | Solicitor licensing Advance fees | $10,000 |
Section 721.26(7)(a), F.S. | Exchange Company Deceptive act or practice | $5,000(0) $10,000(1+) |
Section 721.27, F.S. | Managing entity fees to statutory late fee | $1,000 in addition |
PART II VACATION CLUBS | ||
Section 721.53, F.S.; Rule 61B-39.003, F.A.C. | Subordination instruments | $10,000 |
Subsection 61B-39.005(7), F.A.C. | Security arrangements | $3,000(0) $5,000(1) $10,000(1+) |
Section 721.54, F.S. | Multisite term | $5,000 |
Section 721.55, F.S. | Public Offering Statement rejection/revocation Use of unapproved | $5,000/POS $5,000(0) $10,000(1+) |
Section 721.55, F.S.; Rules 61B-39.002; 61B-39.005; 61B-39.007; 61B-39.008, F.A.C. | Public offering statement contents, maintenance | $5,000 |
Section 721.551, F.S.; Rules 61B-39.002; 61B-39.006; 61B-39.007; 61B-39.008, F.A.C. | Failure to deliver public offering statement | $10,000 |
Section 721.552, F.S.; Subsection 61B-39.007(9), F.A.C. | Change in component site accommodations & facilities | $5,000 |
Sections 721.552(1)(b), (2)(g), F.S. | Fiduciary duty | $10,000 |
Section 721.553, F.S. | Portrayal of component sites | $1,000(0) $2,000(1) $5,000(1+) |
Rule 61B-37.002, F.A.C. | misrepresentations | $2,500(0) $3,500(1) $5,000(1+) |
Sections 721.56(1), (2), F.S.; Paragraph 61B-39.005(5)(e), F.A.C. | Management rejection/revocation | $5,000/POS- |
Section 721.56(3), F.S.; | Escrow accounts | $3,000(0) $5,000(1) $10,000(1+) |
Paragraph 61B-39.007(6)(e), F.A.C. | amendment disclosures | $1,000 |
Section 721.56(5), F.S.; | Reservation system | $5,000 |
Subsection 61B-39.005(7), F.A.C. | filing | $2,500 |
Section 721.56(6); | Developer duties | $10,000 |
Subsection 61B-39.005(7), F.A.C. | filing | $2,500 |
Section 721.57, F.S. | Multisite disclosures | $5,000 |
Section 721.58(1), F.S. | Filing fee | rejection |
Section 721.58(2), F.S. | Managing entity fees to statutory late fees | $1,000 in addition |
NOTE: The designation of (0) means no prior violations;
(1) means one prior violation; and (1+) means more than one prior violation.
Fla. Admin. Code Ann. R. 61B-41.003
Rulemaking Authority 721.26(6) FS. Law Implemented 721.26(5)(e) FS.
New 2-4-98, Amended 10-12-17.