§ 34-36.1-4.02 Liability for publicoffering statement requirements. – (a) Except as provided in subsection (b), a declarant, prior to the offering ofany interest in a unit to the public, shall prepare a public offering statementconforming to the requirements of §§ 34-36.1-4.03 – 34-36.1-4.06.
(b) A declarant may transfer responsibility for preparationof all or a part of the public offering statement to a successor declarant orto a person in the business of selling real estate who intends to offer unitsin the condominium for his or her own account. In the event of any suchtransfer, the transferor shall provide the transferee with any informationnecessary to enable the 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 or her own account to a purchaser shalldeliver a public offering statement in the manner prescribed in §34-36.1-4.08(a). As between the declarant or other person specified insubsection (b), the person who prepared all or a part of the public offeringstatement is liable under §§ 34-36.1-4.08 – 34-36.1-4.17 for anyfalse or misleading statement set forth therein or for any omission of materialfact therefrom with respect to that portion of the public offering statementwhich declarant prepared. If a declarant did not prepare any part of a publicoffering statement that he or she delivers, he or she is not liable for anyfalse or misleading statement set forth therein or for any omission of materialfact therefrom unless declarant had actual knowledge of the statement oromission or, in the exercise of reasonable care, should have known of thestatement or omission.
(d) If a unit is 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 §§34-36.1-4.03 – 34-36.1-4.06 as those requirements relate to all realestate regimes in which the unit is located, and to any other requirementsimposed under the laws of this state, may be prepared and delivered in lieu ofproviding two (2) or more public offering statements.
§ 34-36.1-4.02 Liability for publicoffering statement requirements. – (a) Except as provided in subsection (b), a declarant, prior to the offering ofany interest in a unit to the public, shall prepare a public offering statementconforming to the requirements of §§ 34-36.1-4.03 – 34-36.1-4.06.
(b) A declarant may transfer responsibility for preparationof all or a part of the public offering statement to a successor declarant orto a person in the business of selling real estate who intends to offer unitsin the condominium for his or her own account. In the event of any suchtransfer, the transferor shall provide the transferee with any informationnecessary to enable the 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 or her own account to a purchaser shalldeliver a public offering statement in the manner prescribed in §34-36.1-4.08(a). As between the declarant or other person specified insubsection (b), the person who prepared all or a part of the public offeringstatement is liable under §§ 34-36.1-4.08 – 34-36.1-4.17 for anyfalse or misleading statement set forth therein or for any omission of materialfact therefrom with respect to that portion of the public offering statementwhich declarant prepared. If a declarant did not prepare any part of a publicoffering statement that he or she delivers, he or she is not liable for anyfalse or misleading statement set forth therein or for any omission of materialfact therefrom unless declarant had actual knowledge of the statement oromission or, in the exercise of reasonable care, should have known of thestatement or omission.
(d) If a unit is 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 §§34-36.1-4.03 – 34-36.1-4.06 as those requirements relate to all realestate regimes in which the unit is located, and to any other requirementsimposed under the laws of this state, may be prepared and delivered in lieu ofproviding two (2) or more public offering statements.
§ 34-36.1-4.02 Liability for publicoffering statement requirements. – (a) Except as provided in subsection (b), a declarant, prior to the offering ofany interest in a unit to the public, shall prepare a public offering statementconforming to the requirements of §§ 34-36.1-4.03 – 34-36.1-4.06.
(b) A declarant may transfer responsibility for preparationof all or a part of the public offering statement to a successor declarant orto a person in the business of selling real estate who intends to offer unitsin the condominium for his or her own account. In the event of any suchtransfer, the transferor shall provide the transferee with any informationnecessary to enable the 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 or her own account to a purchaser shalldeliver a public offering statement in the manner prescribed in §34-36.1-4.08(a). As between the declarant or other person specified insubsection (b), the person who prepared all or a part of the public offeringstatement is liable under §§ 34-36.1-4.08 – 34-36.1-4.17 for anyfalse or misleading statement set forth therein or for any omission of materialfact therefrom with respect to that portion of the public offering statementwhich declarant prepared. If a declarant did not prepare any part of a publicoffering statement that he or she delivers, he or she is not liable for anyfalse or misleading statement set forth therein or for any omission of materialfact therefrom unless declarant had actual knowledge of the statement oromission or, in the exercise of reasonable care, should have known of thestatement or omission.
(d) If a unit is 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 §§34-36.1-4.03 – 34-36.1-4.06 as those requirements relate to all realestate regimes in which the unit is located, and to any other requirementsimposed under the laws of this state, may be prepared and delivered in lieu ofproviding two (2) or more public offering statements.
