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TITLE 68: PROFESSIONS AND OCCUPATIONS
CHAPTER VIII: OFFICE OF BANKS AND REAL ESTATE SUBCHAPTER b: PROFESSIONS AND OCCUPATIONS PART 1451 REAL ESTATE TIMESHARE ACT OF 1999 SECTION 1451.210 GUIDELINES FOR ADVERTISING AND PROMOTIONAL MATERIALS
Section 1451.210 Guidelines for Advertising and Promotional Materials
Any advertising material relating to a timeshare plan, including prize and gift promotional offers, must be in full compliance with Section 10-25 and the guidelines set forth in this Section.
a) A seller or other person using an advertisement or promotion in connection with the offering of a timeshare plan shall clearly disclose:
1) that any person whose name or address is obtained during the promotion may be solicited to purchase a timeshare interest and attendance at a sales presentation may be required;
2) the name of each seller or other person trying to sell a timeshare interest through the promotion and the name of each person paying for the promotion;
3) the complete rules of the promotion;
4) the method of awarding prizes, gifts, or other benefits under the promotion; a complete and fully detailed description, including approximate retail value of all prizes, gifts or benefits under the promotion; any required deposits or additional fees; the quantity, if limited, of each prize, gift or benefit that will be awarded or conferred; and
5) each piece of advertising or promotional piece shall contain
the following disclosure in bold face, 10 point type: "THIS ADVERTISING MATERIAL
IS BEING USED FOR THE PURPOSE OF SOLICITING THE SALE OF TIMESHARE
INTERESTS" or substantially similar language and format acceptable to DBRE
b) A seller or other person operating an exhibit booth, kiosk, or any other type of stand-alone display in Illinois must prominently disclose on the signage, in at least 2" typed letters, the name of the seller and/or person paying for the promotion.
c) If a seller or other person represents that a prize, gift, or benefit will be awarded in connection with a promotion, the prize, gift or benefit must be awarded or conferred in a manner represented, and on or before the date presented.
d) A seller or other person using an advertisement or promotion in connection with the offering of a timeshare plan shall not:
1) misrepresent a fact material to a purchaser's decision to purchase a timeshare interest;
2) predict specific or immediate increases in the value of a timeshare interest;
3) materially misrepresent the qualities or characteristics of a timeshare property or the amenities available to a purchaser;
4) misrepresent the length that accommodations or amenities will be available to the purchaser of a specific or non-specific timeshare interest; or
5) knowingly misrepresent the conditions under which a purchaser of a specific or non-specific timeshare interest may exchange the right of his or her occupancy for the right to occupy an accommodation in another location. |