33-2202

33-2202. Definitions

In this chapter, unless the context otherwise requires:

1. "Accommodation" means any apartment, condominium or cooperative unit, cabin,
lodge, hotel or motel room or other private or commercial structure that contains toilet
facilities, that is designed and available for use and occupancy as a residence by one or
more individuals and that is included in the offering of a timeshare plan.

2. "Assessment" means the share of monies that are required for the payment of
common expenses and that the managing entity assesses periodically against each owner,
and any other amount required to be paid by owners under a timeshare instrument.

3. "Association" means any organized body consisting solely of the owners of
timeshare interests in a timeshare plan.

4. "Board" means the governing body designated in the timeshare instrument to act
on behalf of an association.

5. "Common expenses" means the costs and expenses of and for operating the
timeshare plan and timeshare property as set forth in the timeshare instrument.

6. "Developer" means either of the following:

(a) Any person, corporation, partnership, limited liability company, trust or other
entity, other than a sales agent, that creates a timeshare plan.

(b) Any person or entity that succeeds to the interest of the developer by sale,
lease, assignment, mortgage or other transfer if the person offers timeshare interests in
a particular timeshare plan and the person is in the business of selling timeshare
interests or employs sales agents to sell timeshare interests.

7. "Managing entity" means the association or other person that undertakes the
duties, responsibilities and obligations of the management of a timeshare plan.

8. "Owner" means the owners of a timeshare interest in a timeshare plan, other than
as security for an obligation. Owner includes developer to the extent the developer owns
timeshare interests.

9. "Timeshare estate" means the right of occupancy in a timeshare property that is
coupled with an estate in real property.

10. "Timeshare instrument" means one or more documents creating or governing the
operation of a timeshare plan.

11. "Timeshare interest" means either a timeshare estate or a timeshare use.

12. "Timeshare period" means the period of time when the owner of a timeshare
interest is afforded the opportunity to use the accommodations of a timeshare plan.

13. "Timeshare plan" means any arrangement, plan or similar device, other than an
exchange program, whether by membership agreement, or sales, lease, deed, license or
right-to-use agreement or by any other means, in which an owner, in exchange for
consideration, receives ownership rights in or the right to use accommodations for a
period of time that is less than a full year during any given year, but not necessarily
for consecutive years, if the use rights extend for at least three years.

14. "Timeshare property" means one or more accommodations that are subject to the
same timeshare instrument, together with any other property or rights to property
appurtenant to those accommodations.

15. "Timeshare use" means the right to occupy a timeshare property that is not
coupled with an estate in real property.