[§514B-82]  Sale of units.  Except as
provided in section 514B‑85, no sale or offer of sale of units in a
project by a developer shall be made prior to the registration of the project
by the developer with the commission, the issuance of an effective date for the
developer's public report by the commission, and except as provided by law with
respect to time share units, the delivery of the developer's public report to
prospective purchasers.  Notwithstanding any other provision to the contrary,
where a time share project is duly registered under chapter 514E and a
disclosure statement is effective and required to be delivered to the purchaser
or prospective purchaser, the developer's public report need not be delivered
to the purchaser or prospective purchaser. [L 2005, c 93, pt of §4]