§ 55-480. Public offering statement; time shares
If the declaration provides that ownership of cooperative interests or occupancy of any units is or may be in time shares, the public offering statement shall disclose, in addition to the information required by § 55-478:
1. The number and identity of units in which time shares may be created;
2. The total number of time shares that may be created;
3. The minimum duration of any time shares that may be created; and
4. The extent to which the creation of time shares will or may affect the enforceability of the association's lien for assessments provided in § 55-473.
(1982, c. 277.)
Sections: Previous 55-473.1 55-474 55-475 55-476 55-477 55-478 55-479 55-480 55-481 55-482 55-483 55-484 55-485 55-486 55-487 NextLast modified: April 16, 2009