State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_93A > GS_93A-40

§ 93A‑40.  Registrationrequired of time share projects; real estate license required.

(a)        It shall beunlawful for any person in this State to engage or assume to engage in thebusiness of a time share salesperson without first obtaining a real estate brokerlicense issued by the North Carolina Real Estate Commission under theprovisions of Article 1 of this Chapter, and it shall be unlawful for a timeshare developer to sell or offer to sell a time share located in this Statewithout first obtaining a certificate of registration for the time shareproject to be offered for sale issued by the North Carolina Real EstateCommission under the provisions of this Article.

(b)        A personresponsible as general partner, corporate officer, joint venturer or sole proprietorwho intentionally acts as a time share developer, allowing the offering of saleor the sale of time shares to a purchaser, without first obtaining registrationof the time share project under this Article shall be guilty of a Class Ifelony. (1983, c.814, s. 1; 1987, c. 516, s. 16.; 2000‑140, s. 19(b); 2005‑395, s.19.)