Chapter 734b - Time Shares

Chapter 734b - Time Shares

Section 42-103w to 42-103bb - Application of chapter. Definitions. Contract; information required; right to cancel. Advertising and promotional devices. Unfair trade practices. Disclosure of information concerning prizes in advertisements and promotional materials.
Section 42-103cc - Short title: Time Share Act.
Section 42-103dd - Definitions.
Section 42-103ee - Application of Time Share Act and exemptions. Use of “vacation ownership” in advertisement and disclosures.
Section 42-103ff - Exempt communications.
Section 42-103gg - Recordation of time share instrument. Declaration. Licensure of sales agents. Exceptions.
Section 42-103hh - Ownership and conveyance of time share interest.
Section 42-103ii - Registration of time share plan. Presales authorization. Application fee. Developer requirements after approval by commissioner.
Section 42-103jj - Time share plan registration application. Abbreviated application. Statement in lieu of abbreviated application. Exclusion. Application investigation and inspection of property. Costs. Amendments to registration. Fee.
Section 42-103kk - Regulations. Penalties. Hearings. Enforcement. Compliance with other statutes. Developer registration. Fees.
Section 42-103ll - Advertisements and promotions. Prohibitions. Disclosures.
Section 42-103mm - Time share disclosure statement. Written acknowledgment of receipt.
Section 42-103nn - Exchange disclosure statement. Filing with department. Amendments. Fees.
Section 42-103oo - Duty and liability of developer.
Section 42-103pp - Cancellation of purchase contract.
Section 42-103qq - Purchase contract statements.
Section 42-103rr - Exchange company. Liability exceptions.
Section 42-103ss - Deposit of funds. Release of funds. Closing agent and developer agreement. Disputes relating to funds. Financial assurance in lieu of funds.
Section 42-103tt - Unfair trade practices. Use rights compliance. Nonmaterial error or omission.
Section 42-103uu - Insurance.
Section 42-103vv - Developer prohibitions. Penalty.
Section 42-103ww - Annual statement of time share plan or time share property provided by managing entity upon request. Audits. Unfair trade practice. Posting in registration area of accommodation. Extension. Enforcement.
Section 42-103xx - Treatment of assessments collected by managing entity. Disclosures. Fiduciary duty of managing entity.
Section 42-103yy - Assessments. Lien on time share interest. Foreclosure.
Section 42-103zz - Costs of delinquent assessment collection. Notice to purchaser.
Section 42-103aaa - Books and records.
Section 42-103bbb - Time share resale broker requirements. Rebuttable presumption. Exclusions.
Section 42-103ccc - Time share resale disclosure requirements.
Section 42-103ddd - Time share resale agreement requirements. Exceptions.

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