§ 66-32-207. Developers Subject to Commission — Prerequisites to Vacation Club Offering
A developer of a vacation club interest shall in all respects be subject to the authority of the commission and any rules and regulations promulgated by the commission.
Unless specifically exempted, a developer of a vacation club interest may not offer or dispose of a vacation club interest unless it is registered with the commission under § 66-32-123, and pays any fee required by § 66-32-123.
Prior to offering any vacation club intervals in a vacation club, a developer shall provide the commission:
Satisfactory evidence of the existence of the time-share intervals that are part of the vacation club;
The marketing plan for the vacation club;
Proof of ownership or a leasehold estate of the time-share intervals that are part of the vacation club; and
Satisfactory proof of compliance with this part, including, but not limited to, a public offering statement, escrow of deposits, cancellation rights, advertising and promotional offers.
