(a) If a developer or any other person or entity subject to this chapter violates any provision of this chapter, any person adversely affected by the violation may bring an action to: obtain a declaratory judgment that an act or practice violates chapter; enjoin in accordance with the principles of equity a developer or other person or entity who has violated or is violating this chapter; and recover actual damages and appropriate ancillary relief, including compensatory, consequential, or punitive damages. The court or arbitrator, as applicable, may also award reasonable attorney’s fees.
(b) A nonmaterial error or omission is not actionable if a developer has complied with the provisions of this chapter in good faith. Any nonmaterial error or omission is not sufficient to permit a purchaser to cancel a purchase contract after the period provided for cancellation expires under this chapter.
(c) Any person who materially participates in any offer or disposition of any interest in, or the management or operation of, a timeshare plan in violation of this chapter or relevant regulations involving fraud, deception, false pretenses, misrepresentation, or false advertising or the disbursement, concealment, or diversion of any funds or assets, which conduct adversely affects the interests of a purchaser, and which person directly or indirectly controls a regulated party or is a general partner, officer, director, agent, or employee of such regulated party, is jointly and severally liable, unless such person did not know, and in the exercise of reasonable care could not have known, of the existence of the facts giving rise to the violation of this chapter. A right of contribution exists among jointly and severally liable persons.
(d) Any person who knowingly and willfully violates or intentionally fails to comply with the escrow provisions of section 1104 of this chapter, upon conviction, must be fined not more than fifty-thousand ($50,000), imprisoned for not more than two (2) years, or be punished by both fine and imprisonment. The failure to establish an escrow account or to place funds therein as required in this section is prima facie evidence of an intentional and purposeful violation of this section.
(e) Any person who knowingly and willfully violates or intentionally fails to comply with the fiduciary duties set forth in the management provisions of section 1115, including failing to maintain records and providing records when required, upon conviction, must be fined not more than five-thousand ($5,000) per each act of violation, or imprisonment for not more than one year, or be punished by both that fine and imprisonment.
(f) Any developer, interest holder, trustee, or officer or director of an owner’s association who intentionally fails to comply with the provisions of this chapter concerning the establishment of a trust or owners’ association, conveyances of property into the trust or owners’ association, and conveyances or encumbrances of trust or owners’ association property, upon conviction, must be fined not more than ten-thousand ($10,000), imprisoned for not more than two years, or be punished by both that fine and imprisonment. The failure to establish a trust or owners’ association, or to transfer property into the trust or owners’ association, or the failure of a trustee or officer or director of an owners’ association to comply with the trust agreement, articles of incorporation, or bylaws with respect to conveyances or encumbrances of trust owners’ association property, as required by this chapter, is prima facie evidence of an intentional and purposeful violation of this chapter.