California Business and Professions Code ARTICLE 2 - Registration, Sale Requirements, and Fees

  • Section 11225.
    A person shall not be required to register a time-share plan with the commissioner pursuant to this chapter if any of the following applies:(a) The person...
  • Section 11226.
    (a) Any person who, to any individual located in the state, sells, offers to sell, or attempts to solicit prospective purchasers to purchase a time-share interest,...
  • Section 11226.1.
    Any person offering to sell or lease any interest subject to the requirements of Section 11226 shall make a copy of each of the following...
  • Section 11227.
    (a) Subject to subdivision (h), the commissioner shall issue a final public report if all registration requirements have been met as set forth in this chapter...
  • Section 11228.
    The term of a final public report shall be limited to five years. A renewal shall be issued if the developer, owner, or agent makes...
  • Section 11229.
    (a) In connection with its review of the registration application of a time-share plan, the commissioner may make an examination of any time-share property submitted for...
  • Section 11230.
    If the time-share plan, including any accommodations, or amenities within the common area are not completed prior to the issuance of a final public report...
  • Section 11231.
    Every registration required to be filed with the commissioner under this chapter shall be reviewed and issued the specified public report in accordance with the...
  • Section 11232.
    (a) The commissioner may by regulation prescribe filing fees in connection with applications to the Bureau of Real Estate for a public report pursuant to the...
  • Section 11233.
    An applicant for a public report for a time-share plan in which the use and occupancy of the time-share interest purchased in the time-share plan...
  • Section 11234.
    A developer shall prepare, for issuance by the commissioner, a public report that shall fully and accurately disclose those facts concerning the time-share developer and...
  • Section 11235.
    (a) A person who has entered into a contract to purchase a short-term product shall have the right to rescind the contract until midnight of the...
  • Section 11236.
    (a) A receipt on the form specified herein shall be taken by or on behalf of the developer from each person executing a reservation agreement under...
  • Section 11237.
    (a) If a purchaser of a time-share interest in a time-share plan is offered the opportunity to acquire an incidental benefit in connection with the sale...
  • Section 11238.
    (a) The purchase contract entered into by any person who has made an offer to purchase a time-share interest or interests, any incidental benefit, made on...
  • Section 11239.
    (a) To inform a purchaser of his or her right of cancellation under Section 11238, the developer shall attach to the face page of every copy...
  • Section 11240.
    An estimated operating budget for the time-share plan shall be filed with the commissioner along with the other information required to be registered pursuant to...
  • Section 11241.
    (a) The developer is obligated for the expenses associated with unsold inventory held by the developer. The obligation can be fulfilled in either of the following...
  • Section 11242.
    (a) In any time-share plan , the developer may undertake to pay a portion of the assessments otherwise payable by each purchaser (“buy down subsidy”). Any...
  • Section 11242.1.
    (a) The assurance specified in Section 11241 and, if applicable, the assurance specified in Section 11242, shall be delivered to the trustee or an escrow depository...
  • Section 11243.
    The developer shall comply with the following escrow requirements:(a) A developer of a time-share plan shall deposit into an escrow account in an acceptable escrow depository...
  • Section 11244.
    (a) Excluding any encumbrance placed against the purchaser’s time-share interest securing the purchaser’s payment of purchase money financing for the purchase, the developer shall not be...
  • Section 11245.
    (a) No person subject to this chapter shall do any of the following:(1) Make any material misrepresentation that is false or misleading in connection with any advertisement...
  • Section 11246.
    With each application for an amendment or renewal of a public report, and with the initial submittal of an application for a time-share plan in...

Last modified: October 22, 2018