HI SB2273

Provides time share purchasers with a 7-calendar-day rescission right if a material change occurs to the time share plan before closing.

Requires developers to deliver notice of material changes by certified mail using a form prescribed by the director, with the rescission period ending 7 days after purchaser receipt.

Defines "material change" as any change to required disclosure information that directly, substantially, and adversely affects the use or value of a purchaser's time share interest or units.

Defines "pertinent change" as non-material changes to disclosure information, including changes to contact information for developers, agents, and dismissal of disclosed litigation.

Allows developers to continue sales and closings if no material change notice is provided, or if at least 5 days have passed since the rescission period expired without a valid rescission form received.