§514A-103  Designation of residential
apartments.  (a)  The developer of any project containing residential
apartments shall designate at least fifty per cent of the apartments for sale
to prospective owner-occupants pursuant to section 514A-105.  The designation
shall be set forth either in the public report or in the announcement or
advertisement required by section 514A-102, and may be set forth in both.  The
apartments shall constitute a proportionate representation of all the
residential apartments in the project with regard to factors of square footage,
number of bedrooms and bathrooms, floor level, and whether or not the apartment
has a lanai.



(b)  A developer shall have the right to
substitute an apartment designated for owner-occupants with an apartment that
is not so designated; provided that the apartments are similar with regard to
factors enumerated in subsection (a).  The substitution shall not require the
developer's submission of a supplementary public report. [L 1980, c 189, pt of
§2; am L 1985, c 164, §5; am L 1992, c 50, pt of §2; am L 2000, c 210, §4]