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Tennessee Code Title 66. Property § 66-32-207

Current as of January 02, 2024 | Updated by Findlaw Staff

(a) A developer of a vacation club interest shall in all respects be subject to the authority of the commission and any rules and regulations promulgated by the commission.

(b) Unless specifically exempted, a developer of a vacation club interest may not offer or dispose of a vacation club interest unless it is registered with the commission under § 66-32-123, and pays any fee required by § 66-32-123.

(c) Prior to offering any vacation club intervals in a vacation club, a developer shall provide the commission:

(1) Satisfactory evidence of the existence of the time-share intervals that are part of the vacation club;

(2) The marketing plan for the vacation club;

(3) Proof of ownership or a leasehold estate of the time-share intervals that are part of the vacation club; and

(4) Satisfactory proof of compliance with this part, including, but not limited to, a public offering statement, escrow of deposits, cancellation rights, advertising and promotional offers.

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Cite this article: FindLaw.com - Tennessee Code Title 66. Property § 66-32-207 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-66-property/tn-code-sect-66-32-207/

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