Application
Sec. 1. This article does not apply to the following:
(1) The sale of not more than twelve (12) time shares or
camping club memberships in a time share project or camping
site project, unless the developer offers to sell time shares or
camping club memberships in other projects in the same
subdivision and the total number of the shares offered for sale
exceeds twenty-six (26) in a period of twelve (12) months.
(2) The sale or transfer of a time share or camping club
membership by an owner who is not the developer, unless the
time share or camping club membership is sold in the ordinary
course of business of that owner.
(3) Any transfer of a time share or camping club membership by
deed instead of foreclosure or as a result of foreclosure of the
time share or camping club membership.
(4) A gratuitous transfer of a time share or camping site.
(5) A transfer of a time share or camping club membership by
devise or descent or a transfer to an inter vivos trust, unless the
method of disposition is adopted for the purpose of evading this
chapter.
As added by P.L.2-2002, SEC.17.
Last modified: May 24, 2006