§ 66-32-117. Liens
Unless the purchaser expressly agrees to take subject to or assume a lien prior to transferring a time-share interval other than by deed in lieu of foreclosure, the developer shall record or furnish to the purchaser releases of all liens affecting that time-share interval, or shall provide a surety bond or insurance against the lien. […]
§ 66-32-118. Violations — Attorney’s Fees — Criminal Penalties
If a developer or any other person subject to this part violates any provision thereof or any provision of the project instruments, any person or class of persons adversely affected by the violation has a claim for appropriate relief. Punitive damages may be awarded for a willful violation of this part. The court may also […]
§ 66-32-119. Statute of Limitations
A judicial proceeding where the accuracy of the public offering statement or validity of any contract of purchase is in issue and a rescission of the contract or damages is sought must be commenced within four (4) years after the date of the contract of purchase, notwithstanding that the purchaser’s terms of payments may extend […]
§ 66-32-120. Financial Records
The person or entity responsible for making and/or collecting common expenses, assessments or maintenance assessments shall keep detailed financial records. All financial and other records shall be made reasonably available for examination by any time-share interval owner and such owner’s authorized agents.
§ 66-32-121. Powers and Duties of Commission
The commission may adopt, amend, and repeal rules, regulations and issue orders consistent with, and in furtherance of the objectives of this part. The commission may prescribe forms and procedures for submitting information to the commission. The commission may accept grants-in-aid from any governmental source and may contract with agencies charged with similar functions in […]
§ 66-32-122. Registration — Bond — Statement of Exchange Agent
Unless exempted by § 66-32-126, a developer may not offer or dispose of a time-share interval unless the time-share program is registered with the commission; provided, that a developer may accept a reservation together with a deposit if the deposit is placed in an escrow account with an institution having trust powers and is refundable […]
§ 66-32-111. Partition
No action for partition of a unit may be maintained except as permitted by the time-share instrument.
§ 66-32-112. Public Offering Statement — General Provisions
A public offering statement must be provided to each purchaser of a time-share interval and must contain or fully and accurately disclose: The name of the developer and the principal address of the developer and the time-share intervals offered in the statement; A general description of the units including, without limitation, the developer’s schedule of […]
§ 66-32-103. Nature of Time-Share Estates — Recordation
A “time-share estate” is an estate in real property and has the character and incidents of an estate in fee simple at common law or estate for years, if a leasehold, except as expressly modified by this part. This shall supersede any contrary rule at common law. Each time-share estate constitutes for purposes of title […]
§ 66-32-104. Applicability of Local Ordinances, Regulations, and Building Codes
A zoning, subdivision, or other ordinance or regulation may not discriminate against the creation of time-share intervals or impose any requirement upon a time-share program which it would not impose upon a similar development under a different form of ownership.