If an interest in a condominium is currently registered with the Securities and Exchange Commission of the United States or registered pursuant to the Interstate Land Sales Full Disclosure Act, a declarant satisfies all requirements relating to the preparation and delivery of an offering statement of this chapter if he or she delivers to the purchaser a copy of the offering statement filed with the Securities and Exchange Commission or a copy of the property report approved in accordance with the Interstate Land Sales Full Disclosure Act as a part of the registration process.
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