California Civil Code

§ 1812.314

CIV § 1812.314Div. 3 · Title 2.8 · Part 4

Statute text

(a)All money received from the owner of a membership camping contract or the prospective purchaser thereof, by a membership camping contract broker in advance of the completion of any membership camping contract resale, including, but not limited to, listing fees, and fees for services, shall be deposited into an escrow account. The money shall not be disbursed until the transaction is complete, or until the escrow agent has received written instructions to disburse the funds signed by the owner of the membership camping contract or the prospective purchaser and the broker. For purposes of this section, a transaction is complete when ownership of the membership camping contract has been transferred from the prior purchaser to the new purchaser in the manner required by the terms of the membership camping contract, all documents necessary to complete the transfer have been fully executed, and the new purchaser has not exercised the right to cancel provided in paragraph (2) of subdivision (c).

(b)The broker shall inform the new purchaser in writing of the following:

(1)The risks of purchasing a membership camping contract without visiting at least one of the membership camping operator’s campgrounds.

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Legislative history

Added by renumbering Section 1812.307 by Stats. 1990, Ch. 1529, Sec. 9.