Section 34-41-5.01. – Administrative agency.

§ 34-41-5.01. Administrative agency. As used in this chapter, “agency” means the Rhode Island department of business regulation. History of Section.P.L. 1984, ch. 141, § 2.

Section 34-41-5.02. – Registration required.

§ 34-41-5.02. Registration required. A developer may not offer or transfer a time share unless the time share is registered with the agency, but an offering by a developer of time shares in no more than one time-share unit at any one time is exempted from the requirement of this section and § 34-41-5.03(b). History […]

Section 34-41-5.03. – Application for registration — Approval of uncompleted units.

§ 34-41-5.03. Application for registration — Approval of uncompleted units. (a) For the purposes of this section, “substantially completed” means that all structural components and mechanical systems of all buildings constituting or containing any time-share units or portions thereof are finished in accordance with the plans, as evidenced by a recorded certificate of completion executed […]

Section 34-41-5.04. – Receipt of application — Order of registration.

§ 34-41-5.04. Receipt of application — Order of registration. The agency shall acknowledge receipt of an application for registration within five (5) business days after receiving it. The registration shall be made available to the general public for inspection thereafter. History of Section.P.L. 1984, ch. 141, § 2.

Section 34-41-5.05. – Annual report and amendments.

§ 34-41-5.05. Annual report and amendments. (a) A developer within thirty (30) days after the anniversary date of the order of registration, annually shall file a report to bring up to date the material contained in the application for registration and the public offering statement. This provision does not relieve the developer of the obligation […]

Section 34-41-5.06. – Agency regulation of public offering statement.

§ 34-41-5.06. Agency regulation of public offering statement. (a) The agency at any time may require a developer to alter or supplement the form or substance of a public offering statement to assure adequate and accurate disclosure to prospective purchasers. (b) The public offering statement may not be used for any promotional purpose before registration […]

Section 34-41-5.07. – Civil sanctions.

§ 34-41-5.07. Civil sanctions. Any person, partnership, or corporation who violates any of the provisions of this chapter, or who fails to comply with any of the provisions of this chapter, shall be subject to civil liability by any person or class of persons who have been adversely affected by the failure of the person, […]