(a) Except for sections 1102, 1104, and 1114, this chapter does not apply retroactively to timeshare plans existing prior to June 30, 2021. Notwithstanding the foregoing, any developer may adopt the provisions of section 1110 of this chapter for mortgages entered into prior to June 30, 2021. However, by adopting the provisions of section 1110 of this chapter, the developer subjects itself to the provisions of this chapter and the developer must comply with the provisions of this chapter applicable to a developer. Notwithstanding the foregoing or anything to the contrary contained in the governing documents of an existing timeshare association, an existing timeshare association has the right to adopt any provision of this chapter upon a majority vote of the members of the timeshare association, but the provisions of section 1110 and section 1112 of this chapter may be adopted upon a majority vote of the board of directors of the timeshare association.
(b) This chapter does not apply to offers or sales to an existing owner of a timeshare interest offered by that developer or an affiliate of that developer if the developer or the affiliate authorizes the owner to cancel the purchase contract until midnight of the seventh calendar day after the date of the execution of the contract; and provides the owner with all of the timeshare disclosure documents required by law in the jurisdiction in which the timeshare is located.