(a) Any time-share program registered under this article in which a public offering statement has been prepared shall not require registration under any of the following:
(1) Article 1 of this chapter;
(2) Chapter 5 of Title 10; or
(3) Any other state law which requires the preparation of a public offering statement or substantially similar document for distribution to purchasers.
(b) Any time-share program registered under this article that fails to restrict the price at which an owner may sell or exchange such owner's time-share interval shall not by virtue of such failure cause the time-share interval to become a security under Chapter 5 of Title 10; nor shall an exchange program offering such a time-share interval for exchange be construed to be offering a security under Chapter 5 of Title 10.
Section: Previous 44-3-172 44-3-173 44-3-174 44-3-175 44-3-176 44-3-177 44-3-178 44-3-179 44-3-180 44-3-181 44-3-182 44-3-183 44-3-184 NextLast modified: October 14, 2016