LRB-2013/1
PJK:kjf:jf
2009 - 2010 LEGISLATURE
August 26, 2009 - Introduced by Representatives Clark, Van Akkeren, Schneider,
A. Williams, Zepnick and Molepske Jr., cosponsored by Senators Lassa,
Holperin, Taylor, Vinehout, Risser, Olsen and Schultz. Referred to
Committee on Tourism, Recreation and State Properties.
AB396,1,2
1An Act to renumber 707.46 (3); and
to create 707.46 (3) (b) of the statutes;
2relating to: an exemption from recording for time-share licenses.
Analysis by the Legislative Reference Bureau
Current law provides that a contract or other instrument evidencing the
purchase of a time share is not valid unless it is recorded. This bill provides that this
requirement does not apply to a contract or other instrument evidencing the
purchase of a time-share license, which is a right to occupy a time-share unit under
a license or lease agreement.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB396, s. 1
3Section
1. 707.46 (3) of the statutes is renumbered 707.46 (3) (a).
AB396, s. 2
4Section
2. 707.46 (3) (b) of the statutes is created to read:
AB396,1,65
707.46
(3) (b) Paragraph (a) does not apply to a contract for, or other instrument
6evidencing, the purchase of a time-share license.
