legislation: 97-hr-7364

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
97-hr-7364 97 hr 7364 A bill to amend title 11 of the United States Code with respect to interests in timeshare premises. Finance and Financial Sector 1982-12-03 1982-12-08 Referred to Subcommittee on Monopolies and Commercial Law. House Rep. McCollum, Bill [R-FL-5] FL R M000350 0 Amends the Bankruptcy Code to provide that if the trustee rejects a debtor's executory contract for the sale of an interest in a timeshare plan, where the purchaser has not given up his right to use the timeshare premises, such purchaser may treat the contract as terminated and receive a lien on the timeshare interest for any part of the price already paid (except payments in previous years). Requires such election to take place within 45 days after entry of the order authorizing the rejection. Permits the purchaser in the alternative, to continue to exercise his rights to use the timeshare premises if he continues to make installment and maintenance payments. Permits the purchaser to offset against such continued payments any damages occurring after the trustee's rejection caused by the nonperformance of any of the debtor's obligations. Permits the purchaser, where the trustee has assigned the contract to a third party, to terminate his contract rather than participate with the assignee in the premises. 2023-05-11T13:12:17Z  

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