- Any time-share program registered under this article in which a public offering statement has been prepared shall not require registration under any of the following:
- Article 1 of this chapter;
- Chapter 5 of Title 10; or
- Any other state law which requires the preparation of a public offering statement or substantially similar document for distribution to purchasers.
- Any time-share program registered under this article that fails to restrict the price at which an owner may sell or exchange such owner’s time-share interval shall not by virtue of such failure cause the time-share interval to become a security under Chapter 5 of Title 10; nor shall an exchange program offering such a time-share interval for exchange be construed to be offering a security under Chapter 5 of Title 10.
History. Code 1981, § 44-3-177 , enacted by Ga. L. 1983, p. 1255, § 1; Ga. L. 1995, p. 1260, § 1.