§ 47C‑4‑102. Liability for public offering statement requirements.
(a) Except as provided in subsection (b), a declarant must,prior to the offering of any interest in a unit to the public, prepare a publicoffering statement conforming to the requirements of G.S. 47C‑ 4‑103,47C‑4‑104, 47C‑4‑105, and 47C‑4‑106.
(b) A declarant may transfer responsibility for preparation ofall or a part of the public offering statement to a successor declarant or to aperson in the business of selling real estate who intends to offer units in thecondominium for his own account. In the event of any such transfer, thetransferor must provide the transferee with any information necessary to enablethe transferee to fulfill the requirements of subsection (a).
(c) Any declarant or other person in the business of sellingreal estate who offers a unit for his own account to a purchaser shall delivera public offering statement in the manner prescribed in G.S. 47C‑4‑108(a).The person who prepared all or a part of or delivered the public offeringstatement is subject to G.S. 47C‑4‑117 for any false or misleadingstatement set forth therein or for any omission of material fact therefrom withrespect to that portion of the public offering statement which he prepared. Ifa declarant did not prepare any part of or deliver a public offering statement,he is not liable for any false or misleading statement set forth therein or forany omission of material fact therefrom unless he had actual knowledge of thestatement or omission. A declarant, who has transferred responsibility forpreparation of all or a part of the public offering statement under subsection(b), shall be liable when a false or misleading statement in the publicoffering statement prepared by another results from the declarant's failure toprovide the information required in subsection (b).
(d) If a unit is a part of a condominium and is part of anyother real estate regime in connection with the sale of which the delivery of apublic offering statement is required under the laws of this State, a singlepublic offering statement conforming to the requirements of G.S. 47C‑4‑103,47C‑4‑104, 47C‑4‑105, and 47C‑4‑106 asthose requirements relate to all real estate regimes in which the unit islocated, and to any other requirements imposed under the laws of this State,may be prepared and delivered in lieu of providing two or more public offeringstatements. (1985 (Reg. Sess.,1986), c. 877, s. 1.)
§ 47C‑4‑102. Liability for public offering statement requirements.
(a) Except as provided in subsection (b), a declarant must,prior to the offering of any interest in a unit to the public, prepare a publicoffering statement conforming to the requirements of G.S. 47C‑ 4‑103,47C‑4‑104, 47C‑4‑105, and 47C‑4‑106.
(b) A declarant may transfer responsibility for preparation ofall or a part of the public offering statement to a successor declarant or to aperson in the business of selling real estate who intends to offer units in thecondominium for his own account. In the event of any such transfer, thetransferor must provide the transferee with any information necessary to enablethe transferee to fulfill the requirements of subsection (a).
(c) Any declarant or other person in the business of sellingreal estate who offers a unit for his own account to a purchaser shall delivera public offering statement in the manner prescribed in G.S. 47C‑4‑108(a).The person who prepared all or a part of or delivered the public offeringstatement is subject to G.S. 47C‑4‑117 for any false or misleadingstatement set forth therein or for any omission of material fact therefrom withrespect to that portion of the public offering statement which he prepared. Ifa declarant did not prepare any part of or deliver a public offering statement,he is not liable for any false or misleading statement set forth therein or forany omission of material fact therefrom unless he had actual knowledge of thestatement or omission. A declarant, who has transferred responsibility forpreparation of all or a part of the public offering statement under subsection(b), shall be liable when a false or misleading statement in the publicoffering statement prepared by another results from the declarant's failure toprovide the information required in subsection (b).
(d) If a unit is a part of a condominium and is part of anyother real estate regime in connection with the sale of which the delivery of apublic offering statement is required under the laws of this State, a singlepublic offering statement conforming to the requirements of G.S. 47C‑4‑103,47C‑4‑104, 47C‑4‑105, and 47C‑4‑106 asthose requirements relate to all real estate regimes in which the unit islocated, and to any other requirements imposed under the laws of this State,may be prepared and delivered in lieu of providing two or more public offeringstatements. (1985 (Reg. Sess.,1986), c. 877, s. 1.)
§ 47C‑4‑102. Liability for public offering statement requirements.
(a) Except as provided in subsection (b), a declarant must,prior to the offering of any interest in a unit to the public, prepare a publicoffering statement conforming to the requirements of G.S. 47C‑ 4‑103,47C‑4‑104, 47C‑4‑105, and 47C‑4‑106.
(b) A declarant may transfer responsibility for preparation ofall or a part of the public offering statement to a successor declarant or to aperson in the business of selling real estate who intends to offer units in thecondominium for his own account. In the event of any such transfer, thetransferor must provide the transferee with any information necessary to enablethe transferee to fulfill the requirements of subsection (a).
(c) Any declarant or other person in the business of sellingreal estate who offers a unit for his own account to a purchaser shall delivera public offering statement in the manner prescribed in G.S. 47C‑4‑108(a).The person who prepared all or a part of or delivered the public offeringstatement is subject to G.S. 47C‑4‑117 for any false or misleadingstatement set forth therein or for any omission of material fact therefrom withrespect to that portion of the public offering statement which he prepared. Ifa declarant did not prepare any part of or deliver a public offering statement,he is not liable for any false or misleading statement set forth therein or forany omission of material fact therefrom unless he had actual knowledge of thestatement or omission. A declarant, who has transferred responsibility forpreparation of all or a part of the public offering statement under subsection(b), shall be liable when a false or misleading statement in the publicoffering statement prepared by another results from the declarant's failure toprovide the information required in subsection (b).
(d) If a unit is a part of a condominium and is part of anyother real estate regime in connection with the sale of which the delivery of apublic offering statement is required under the laws of this State, a singlepublic offering statement conforming to the requirements of G.S. 47C‑4‑103,47C‑4‑104, 47C‑4‑105, and 47C‑4‑106 asthose requirements relate to all real estate regimes in which the unit islocated, and to any other requirements imposed under the laws of this State,may be prepared and delivered in lieu of providing two or more public offeringstatements. (1985 (Reg. Sess.,1986), c. 877, s. 1.)
