State Codes and Statutes
Statutes > Rhode-island > Title-34 > Chapter-34-41 > 34-41-3-05SECTION 34-41-3.05
§ 34-41-3.05 Termination of contracts andleases of developer. – (a) If, before the developer ceases to appoint, control, or serve as themanaging entity, there is entered into (i) any management contract, employmentcontract, or lease of recreational or parking areas or facilities, (ii) anyother contract or lease between the managing entity and a developer or anaffiliate of a developer, or (iii) any contract or lease that is not bona fideor was unconscionable to the time-share owners at the time entered into underthe circumstances then prevailing, the contract may be terminated withoutpenalty by the association or the time-share owners at any time after thedeveloper ceases to appoint, control, or serve as the managing entity, upon notless than ninety (90) days' notice to the other party. This subsection does notapply to any lease the termination of which would terminate the time-shareproperty or reduce its size, unless the real estate subject to that lease wasincluded in the property for the purpose of avoiding the right to terminate alease under this section.
(b) If there is no association, any time-share ownerindividually or on behalf of the class of time-share owners may maintain anaction for appropriate relief.
