Chapter 514E

Time Sharing Plans

CHAPTER 514E

TIME SHARING PLANS

Section

514E-1 Definitions

514E-1.5 Time share administrator; duties

514E-2 Status of property

514E-2.5 Licensing of sales agents and acquisition agents

514E-2.6 Repealed

514E-3 Taxation

514E-4 County authority

514E-5 Geographic limitations

514E-5.5 Foreign time share plans; exemption

514E-6 Time sharing in projects

514E-6.5 Voting rights for time share units

514E-7 Maintenance charges

514E-8 Mutual right to cancel

514E-8.5 Classes of time share interests

514E-8.6 One-to-one use-right to use-night requirement

514E-9 Disclosure statement

514E-9.1 Disclosure statement; prospective purchasers

514E-9.5 Exchange program; general provisions

514E-9.8 Time share interest owner referrals

514E-10 Registration required; developer, acquisition agent,

plan manager, and exchange agent; registration renewal

514E-10.2 Limited permit

514E-10.3 Time share owners association; budgets and reserves

514E-10.5 Consultant review of developer filing

514E-11 Prohibited practices

514E-11.1 Deceptive trade practices

514E-11.2 Power to enjoin

514E-11.3 Remedies; sales voidable; when and by whom

514E-11.4 Defense to action

514E-12 Civil penalty; suspension or revocation of

registrations

514E-12.5 Statutory or common-law remedies

514E-13 Authority of director

514E-14 Preexisting time share units and plans

514E-15 Severability

514E-16 Deposit of purchaser’s funds, notes, and contracts

into escrow

514E-17 Release of purchaser’s funds, notes, and contracts

from escrow without a closing

514E-18 Release of purchaser’s funds, notes, and contracts

from escrow upon closing

514E-19 Protection of purchasers from blanket liens

514E-20 Effect of recording a nondisturbance agreement

514E-21 Effect of recording a notice of time share plan

514E-22 General requirements for trusts

514E-23 Requirements for trustees

514E-24 Additional requirements for lien payment trusts

514E-25 Lien payment deposit

514E-26 Termination of a trust

514E-27 Alternative arrangements for purchaser protection

514E-28 Requirements for surety bonds and letters of credit

514E-29 Association; lien for delinquent assessments

514E-30 Scope of chapter

514E-31 Private right of action

Cross References

Sunset evaluations modified, see §§26H-4, 5.

Time share commissioners of deeds, see chapter 503B.

Time share interest foreclosures, see §§667-61 to 65.

Law Journals and Reviews

Timesharing in the 1990s. I HBJ No. 13, at pg. 89.