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Arkansas Code Title 18. Property § 18-14-304. Developer control period

Current as of March 28, 2024 | Updated by Findlaw Staff

(a) The time-share instruments for a time-share estate plan may provide for a length of time, known as the “developer control period”, during which the developer, or a managing agent selected by the developer, may manage the time-share plan and the accommodations in the time-share plan.

(b) If the time-share instruments for a time-share estate plan provide for the establishment of a developer control period, the procedure shall ordinarily include:

(1) Termination of the developer control period by action of the association or by operation of the time-share instruments;

(2) Termination of contracts for goods and services for the time-share plan or for accommodations in the time-share plan during the developer control period; and

(3) A regular accounting by the developer to the association concerning matters that significantly affect the interests of owners in the time-share plan.

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Cite this article: FindLaw.com - Arkansas Code Title 18. Property § 18-14-304. Developer control period - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-18-property/ar-code-sect-18-14-304/

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