§ 44-3-206. Foreclosure by Owners’ Association; Procedure; Effect of Sale
An owners’ association may foreclose its lien upon a time-share estate in accordance with subsection (c) of Code Section 44-3-109 or may foreclose its lien under a power of sale that such owners’ association shall have under this Code section in order to sell a time-share estate for the purpose of paying any or all […]
§ 44-3-220. Short Title
This article shall be known and may be cited as the “Georgia Property Owners’ Association Act.” History. Code 1981, § 44-3-220 , enacted by Ga. L. 1994, p. 1879, § 1.
§ 44-3-221. Definitions
As used in this article, the term: “Board of directors” or “board” means an executive and administrative body, by whatever name denominated, designated in the instrument as the governing body of the association. “Common area” means all real and personal property submitted to the declaration which is owned or leased by the association for common […]
§ 44-3-189. Protection of Purchasers From Developer’s Underlying Blanket Encumbrance
The developer whose project is subject to an underlying blanket lien or encumbrance shall protect nondefaulting purchasers from foreclosure by the lienholder by obtaining from the lienholder a nondisturbance clause, subordination agreements, partial release of the lien as the time-share intervals are sold, or an agreement in writing that the lienholder will purchase nondefaulting purchasers’ […]
§ 44-3-190. Real Estate Broker’s License Requirement; Collection of Compensation for Real Estate Brokerage Services From Persons Reselling Time-Share Intervals
It shall be unlawful for any person to engage in the business of, act in the capacity of, advertise, or assume to act as a sales agent or managing agent within this state without first obtaining a license to act as a real estate broker if required by Chapter 40 of Title 43. Prior to […]
§ 44-3-191. Requirements for Out-of-State Projects, Managing Agents, and Exchange Programs
Time-share projects located outside this state and offered for sale in this state must comply with such time-share regulations as exist in the situs state unless the provisions of this article are more restrictive, and then the provisions of this article shall be equally applicable. A time-share project located outside this state may supplement its […]
§ 44-3-192. Exceptions From Registration
Compliance with this article shall not be required in the case of: Any transfer of a time-share interval by any time-share interval owner other than the developer or such developer’s agent; Any disposition pursuant to court order; A disposition by a government or governmental agency; A disposition by foreclosure or deed in lieu of foreclosure; […]
§ 44-3-193. Modification of Public Offering Statement; Limitations on Use of Public Offering Statement
A developer must alter or supplement the form of or information contained in the public offering statement to assure that the public offering statement adequately and accurately discloses to prospective purchasers the material required to be disclosed by this article. The public offering statement shall not be used for any promotional purposes unless it is […]
§ 44-3-178. Exceptions to Public Offering Statement Requirement Under This Article
In lieu of the public offering statement required by this article, the developer may give prospective purchasers a public offering statement or similar disclosure document which meets the requirements of the Federal Securities and Exchange Act of 1933 or, if the time-share project is located in another state, a public offering statement or similar disclosure […]
§ 44-3-194. Records Required to Be Kept by Developer or Agents
Any developer or its agents shall keep among its business records and make reasonably available for examination to the purchaser or the time-share program’s association or its authorized agent the following: A copy of each item required by this article; A copy of the sales agreement from each sale of a time-share interval in the […]