§ 44-3-169. Identification of Time-Share Project, Time-Share Units, and Time Periods
Project instruments and time-share instruments creating time-share uses shall contain the following: Identification by name of the time-share project and street address where the time-share project is situated; Identification of the time periods, type of units, and the units that are in the time-share program and the length of time that the units are committed […]
§ 44-3-170. Time-Share Use Program Management and Operation
The time-share instruments for a time-share use program shall prescribe reasonable arrangements for management and operation of the time-share program and for the maintenance, repair, and furnishing of units which shall include the following: Standards and procedures for upkeep, repairs, and interior furnishing of units; Adoption of standards and rules of conduct governing the use […]
§ 44-3-171. Sale of Time-Share Intervals and Programs Organized Prior to July 1, 1983
In the event that: Time-share intervals in a time-share program have been sold in this state to a resident of this state prior to July 1, 1983; The time-share instruments and project instruments creating such program do not provide for or contain the provisions required by Code Sections 44-3-166 through 44-3-170; and The developer does […]
§ 44-3-172. Contents of Public Offering Statement
A public offering statement must be provided to each purchaser of a time-share interval. Prospective purchasers receiving a copy of the public offering statement shall sign a statement acknowledging receipt of the public offering statement and such receipt shall be kept at the principal office of the developer for three years from the date of […]
§ 44-3-173. Annual Reports Filed by Exchange Companies and Multilocation Developers
An exchange company whose exchange program is offered to purchasers in connection with the offer or disposition of time-share intervals in this state shall, on or before July 1 of each year, file with the secretary of the association for the time-share program in which the time-share intervals are offered or disposed, the information required […]
§ 44-3-117. Application to Subcondominiums; Creation of Subcondominium; Subassociation; Insurance; Effect of Certain Liens; Eminent Domain; Description of Certain Units; Assessments
Except as otherwise set forth in this Code section, the creation of a subcondominium shall not limit the application of this article in its entirety to such subcondominium. To the extent permitted in the condominium instruments, a condominium unit may be submitted by the owner thereof to a subcondominium and such owner shall thereafter be […]
§ 44-3-174. Public Offering Statement Provided to Purchasers; Cancellation of Sales Agreement by Purchaser or Developer; Statement Acknowledging Receipt
Before transfer of a time-share interval and no later than the date of any sales agreement, the developer shall provide the intended transferee with a copy of the public offering statement and any amendments and supplements thereto. The sales agreement is voidable by the purchaser for seven days, Sundays and holidays excepted, after receipt of […]
§ 44-3-160. Short Title
This article shall be known and may be cited as the “Georgia Time-Share Act.” History. Code 1981, § 44-3-160 , enacted by Ga. L. 1983, p. 1255, § 1; Ga. L. 1984, p. 22, § 44; Ga. L. 1995, p. 1260, § 1.
§ 44-3-175. Funds Required to Be Escrowed by Developer; Exceptions; Escrow Agents
A developer of a time-share program shall: Deposit with an escrow agent 100 percent of all funds which are received during the seven-day cancellation period provided for in this article. The deposit of such funds shall be evidenced by an executed escrow agreement between the escrow agent and the developer, the provisions of which shall […]
§ 44-3-161. Purpose of Article
The purposes of this article are to: Give statutory recognition to real property timesharing in this state; Regulate developers of time-share estate and time-share use projects located in this state and outside this state when offered for sale in this state; Require that developers of time-share projects: Make certain disclosures to purchasers and prospective purchasers […]