(a) The following
caption shall be included on all promotional literature and other printed or
written material used in connection with the sale of any interest or interests
in a time share plan; provided that the caption shall be printed in capital
letters of twenty-four point bold type or type as large as the largest printing
or writing elsewhere in the material:
"THIS IS A TIME SHARING SALES PRESENTATION. ANY PURCHASER
HAS, UNDER THE LAW, A SEVEN-DAY RIGHT OF RESCISSION OF ANY TIME SHARING SALES
CONTRACT."
Failure to include this caption on any printed or written
material shall constitute an unfair or deceptive trade practice within the
meaning of chapter 480, HRS, and shall be a violation of chapter 514E, HRS, and
this chapter.
(b) Any
written invitation used in connection with any time share advertising or sales
promotion plan which offers a prospective purchaser a prize or gift,
conditioned upon the attendance of the prospective purchaser at a sales
presentation, shall contain the following written disclosure; provided that the
disclosure is furnished to the prospective purchaser at the time the
prospective purchaser is notified of the prize or gift; and provided further
that the disclosure shall be written or printed in a size equal to at least ten
point bold type:
(1) A full description of
the exact prize or gift won by the prospective purchaser, including the cash
value of the prize or gift;
(2) All
terms and conditions attached to the prize or gift;
(3) A statement that the prospective
purchaser must attend a sales presentation; and
(4) An identification of the time share plan
to be offered for sale, including type of ownership, exchange privileges,
limitations, and price ranges of the time share interests in the plan.
Failure to provide the written disclosure required in this
subsection shall constitute an unfair or deceptive trade practice within the
meaning of chapter 480, HRS, and shall be a violation of chapter 514E, HRS, and
this chapter.
