Chapter 734b. Time Shares
Section
42-103w to 42-103bbApplication 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.42-103ccShort title: Time Share Act.42-103ddDefinitions.42-103eeApplication of Time Share Act and exemptions. Use of “vacation ownership” in advertisement and disclosures.42-103ffExempt communications.42-103ggRecordation of time share instrument. Declaration. Licensure of sales agents. Exceptions.42-103hhOwnership and conveyance of time share interest.42-103iiRegistration of time share plan. Presales authorization. Application fee. Developer requirements after approval by commissioner.42-103jjTime share plan registration application. Abbreviated application. Statement in lieu of abbreviated application. Exclusion. Application investigation and inspection of property. Costs. Amendments to registration. Fee.42-103kkRegulations. Penalties. Hearings. Enforcement. Compliance with other statutes. Developer registration. Fees.42-103llAdvertisements and promotions. Prohibitions. Disclosures.42-103mmTime share disclosure statement. Written acknowledgment of receipt.42-103nnExchange disclosure statement. Filing with department. Amendments. Fees.42-103ooDuty and liability of developer.42-103ppCancellation of purchase contract.42-103qqPurchase contract statements.42-103rrExchange company. Liability exceptions.42-103ssDeposit of funds. Release of funds. Closing agent and developer agreement. Disputes relating to funds. Financial assurance in lieu of funds.42-103ttUnfair trade practices. Use rights compliance. Nonmaterial error or omission.42-103uuInsurance.42-103vvDeveloper prohibitions. Penalty.42-103wwAnnual 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.42-103xxTreatment of assessments collected by managing entity. Disclosures. Fiduciary duty of managing entity.42-103yyAssessments. Lien on time share interest. Foreclosure.42-103zzCosts of delinquent assessment collection. Notice to purchaser.42-103aaaBooks and records.42-103bbbTime share resale broker requirements. Rebuttable presumption. Exclusions.42-103cccTime share resale disclosure requirements.42-103dddTime share resale agreement requirements. Exceptions.