SCS HB 83 -- TRAVEL CLUBS

This bill specifies that any use of travel club membership
benefits during the three-business-day rescission period of the
membership contract will not waive the member's right to rescind
the contract and requires the rescission statement that must be
printed in the form of a disclaimer on all contracts to reflect
that change.

A travel club must have liquid assets of at least $250,000 in
certificates of deposit or a letter of credit from a banking
institution with at least $75 million in assets before it can
register or renew a registration with the Attorney General.
These liquid assets will be available to the Attorney General if
the travel club fails to meet its legal obligations to its
members.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:23 am