§ 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 […]
§ 44-3-179. Updating Public Offering Statement Required
The developer shall immediately amend or supplement the public offering statement to report any material change in the information required by Code Section 44-3-172. As to any exchange program, the developer shall use the current written materials that are supplied to it for distribution to the time-share interval owners as it is received. History. Code […]
§ 44-3-195. Criminal Penalty for Violation of Article; Injunction Restraining Prohibited Conduct; Liability for Damages; Attorney’s Fees
Except that violations of Code Section 44-3-188 shall be subject only to the remedies available under paragraph (16) of subsection (b) of Code Section 10-1-393, any person who shall willfully and intentionally violate any provision of this article shall be guilty of a misdemeanor except in the case the violation causes loss in excess of […]
§ 44-3-180. Purchase of Interval Is Free of Liens Affecting That Interval; Exceptions
Unless the purchaser expressly agrees in the sales agreement to accept such purchaser’s interest subject to a lien or by assuming 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 […]
§ 44-3-196. Application of Article to Time-Share Programs Created Prior to or Following July 1, 1983
The provisions of this article shall apply to any time-share program located in this state or outside this state when offered for sale in this state created or commenced after July 1, 1983, and 180 days after July 1, 1983, as to any time-share program heretofore created or commenced. History. Code 1981, § 44-3-205 , […]
§ 44-3-181. Transfer of Developer’s Entire Interest
The developer shall not sell, lease, assign, or otherwise transfer the entire interest of the developer, other than as a transfer of a time-share interval in the normal course of marketing, in the time-share program or the accommodations or facilities to a third party when such a sale, lease, assignment, or other transfer substantially affects […]
§ 44-3-197. Exceptions From Registration
Editor’s notes. Ga. L. 1995, p. 1260, § 1, renumbered former Code Section 44-3-197 as present Code Section 44-3-192.
§ 44-3-182. Financial and Other Records of Time-Share Project Association or Managing Agent
The person or entity responsible for making or collecting common expense assessments or maintenance assessments shall keep detailed financial records and shall keep said funds in a designated trust account. All financial and other records shall be made reasonably available for examination by any time-share interval owner in the program, by the time-share program’s association, […]
§ 44-3-183. Remedy for Violation of Article; Punitive Damages; Attorney’s Fees
If a developer or any other person subject to this article violates any provision of this article 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 article. The court […]