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Current as of January 01, 2025 | Updated by Findlaw Staff
(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 authority of a preliminary public report and each person who has made a written offer to purchase or lease a time-share interest under authority of a preliminary, conditional, or final public report.
(b) The developer or his or her agent shall retain each receipt for a final public report for a period of three years from the date of the receipt and shall make the receipts available for inspection by the commissioner or his or her designated representative during regular business hours.
(c) The form approved by the commissioner for the acknowledgment of receipt of a preliminary, conditional, or final public report shall be as follows:
“ [FN1] RECEIPT FOR PUBLIC REPORTThe Law and Regulations of the commissioner require that you as a prospective purchaser or lessee be afforded an opportunity to read the public report for this time-share before you execute a contract to purchase or lease a time-share interest or before any money or other consideration toward purchase or lease of a time-share interest is accepted from you.
You must be afforded an opportunity to read the report before a written reservation or any deposit in connection therewith is accepted from you.
DO NOT SIGN THIS RECEIPT UNTIL YOU HAVE RECEIVED A COPY OF THE REPORT AND HAVE READ IT.
I have read the commissioner's public report on ___ (File No., Tract No., or Name). I understand the report is not a recommendation or endorsement of the time-share, but is for information only. The date of the public report which I received and read is ___.
Developer Is Required to Retain This Receipt for Three Years.
Cite this article: FindLaw.com - California Code, Business and Professions Code - BPC § 11236 - last updated January 01, 2025 | https://codes.findlaw.com/ca/business-and-professions-code/bpc-sect-11236/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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