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California
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ARDA backed changes to AB 33
which originally sought to consolidate a number of state agencies that
oversee a wide range of lenders. ARDA successfully argued that the
service and oversight functions of the Department of Real Estate should
remain independent rather than potentially being buried in a new
“super” agency.
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ARDA also gained an
important concession in SB 407 which would require the replacement of
all plumbing fixtures in California that do not meet current water conservation standards. The bill
initially would have required most timeshare properties to comply by
January 2014. So far that date has been delayed until 2019, allowing
timeshare associations more time to plan for this new
expense.
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