A. The application for registration shall be filed in a form prescribed bythe Board's regulations and shall include the following:
1. An irrevocable appointment to the Board to receive service of process inany proceeding arising under this chapter against the developer or thedeveloper's agent;
2. The states or jurisdictions in which an application for registration orsimilar document has been filed and any adverse order, judgment, or decreeentered in connection with the time-share project by the regulatoryauthorities in each jurisdiction or by any court;
3. The applicant's name, address, and the organizational form, including thedate, and jurisdiction under which the applicant was organized, and theaddress of its principal office and each of its sales offices in theCommonwealth;
4. The name, address, and principal occupation for the past five years ofevery officer of the applicant or person occupying a similar status orperforming similar functions, and the extent and nature of his interest inthe applicant or the time-share project as of a specified date within thirtydays of the filing of the application;
5. A statement, in a form acceptable to the Board, of the condition of thetitle to the time-share project including encumbrances as of a specified datewithin thirty days of the date of application by a title opinion of alicensed attorney not a salaried employee, officer or director of theapplicant or owner, or by other evidence of a title acceptable to the Board;
6. A copy of the instruments which will be delivered to a purchaser toevidence his interest in the time-share and copies of the contracts and otheragreements which a purchaser will be required to agree or to sign;
7. A copy of any management agreements, employment contracts or othercontracts or agreements affecting the use, maintenance or access of all orany part of the time-share project;
8. A statement of the zoning and other governmental regulations affecting theuse of the time-share, including the site plans and building permits andtheir status, any existing tax and existing or proposed special taxes orassessments which affect the time-share;
9. A narrative description of the promotional plan for the disposition of thetime-shares;
10. The proposed public offering statement and its exhibits;
11. Any bonds required to be posted pursuant to the provisions of thischapter;
12. The time-share owners' annual report or budget required by § 55-370.1 tothe extent available;
13. A description of each product the developer seeks to register with theBoard; and
14. Any other information which the Board believes necessary to assure fulland fair disclosure.
B. The developer shall immediately report to the Board any material changesin the information contained in an application for registration.
C. Nothing shall prevent a developer from registering with the Board atime-share project where construction is yet to begin, or if begun, is notyet complete.
(Code 1950, § 55-391; 1981, c. 462; 1985, c. 517; 1994, c. 580; 1998, c. 460.)
A. The application for registration shall be filed in a form prescribed bythe Board's regulations and shall include the following:
1. An irrevocable appointment to the Board to receive service of process inany proceeding arising under this chapter against the developer or thedeveloper's agent;
2. The states or jurisdictions in which an application for registration orsimilar document has been filed and any adverse order, judgment, or decreeentered in connection with the time-share project by the regulatoryauthorities in each jurisdiction or by any court;
3. The applicant's name, address, and the organizational form, including thedate, and jurisdiction under which the applicant was organized, and theaddress of its principal office and each of its sales offices in theCommonwealth;
4. The name, address, and principal occupation for the past five years ofevery officer of the applicant or person occupying a similar status orperforming similar functions, and the extent and nature of his interest inthe applicant or the time-share project as of a specified date within thirtydays of the filing of the application;
5. A statement, in a form acceptable to the Board, of the condition of thetitle to the time-share project including encumbrances as of a specified datewithin thirty days of the date of application by a title opinion of alicensed attorney not a salaried employee, officer or director of theapplicant or owner, or by other evidence of a title acceptable to the Board;
6. A copy of the instruments which will be delivered to a purchaser toevidence his interest in the time-share and copies of the contracts and otheragreements which a purchaser will be required to agree or to sign;
7. A copy of any management agreements, employment contracts or othercontracts or agreements affecting the use, maintenance or access of all orany part of the time-share project;
8. A statement of the zoning and other governmental regulations affecting theuse of the time-share, including the site plans and building permits andtheir status, any existing tax and existing or proposed special taxes orassessments which affect the time-share;
9. A narrative description of the promotional plan for the disposition of thetime-shares;
10. The proposed public offering statement and its exhibits;
11. Any bonds required to be posted pursuant to the provisions of thischapter;
12. The time-share owners' annual report or budget required by § 55-370.1 tothe extent available;
13. A description of each product the developer seeks to register with theBoard; and
14. Any other information which the Board believes necessary to assure fulland fair disclosure.
B. The developer shall immediately report to the Board any material changesin the information contained in an application for registration.
C. Nothing shall prevent a developer from registering with the Board atime-share project where construction is yet to begin, or if begun, is notyet complete.
(Code 1950, § 55-391; 1981, c. 462; 1985, c. 517; 1994, c. 580; 1998, c. 460.)
A. The application for registration shall be filed in a form prescribed bythe Board's regulations and shall include the following:
1. An irrevocable appointment to the Board to receive service of process inany proceeding arising under this chapter against the developer or thedeveloper's agent;
2. The states or jurisdictions in which an application for registration orsimilar document has been filed and any adverse order, judgment, or decreeentered in connection with the time-share project by the regulatoryauthorities in each jurisdiction or by any court;
3. The applicant's name, address, and the organizational form, including thedate, and jurisdiction under which the applicant was organized, and theaddress of its principal office and each of its sales offices in theCommonwealth;
4. The name, address, and principal occupation for the past five years ofevery officer of the applicant or person occupying a similar status orperforming similar functions, and the extent and nature of his interest inthe applicant or the time-share project as of a specified date within thirtydays of the filing of the application;
5. A statement, in a form acceptable to the Board, of the condition of thetitle to the time-share project including encumbrances as of a specified datewithin thirty days of the date of application by a title opinion of alicensed attorney not a salaried employee, officer or director of theapplicant or owner, or by other evidence of a title acceptable to the Board;
6. A copy of the instruments which will be delivered to a purchaser toevidence his interest in the time-share and copies of the contracts and otheragreements which a purchaser will be required to agree or to sign;
7. A copy of any management agreements, employment contracts or othercontracts or agreements affecting the use, maintenance or access of all orany part of the time-share project;
8. A statement of the zoning and other governmental regulations affecting theuse of the time-share, including the site plans and building permits andtheir status, any existing tax and existing or proposed special taxes orassessments which affect the time-share;
9. A narrative description of the promotional plan for the disposition of thetime-shares;
10. The proposed public offering statement and its exhibits;
11. Any bonds required to be posted pursuant to the provisions of thischapter;
12. The time-share owners' annual report or budget required by § 55-370.1 tothe extent available;
13. A description of each product the developer seeks to register with theBoard; and
14. Any other information which the Board believes necessary to assure fulland fair disclosure.
B. The developer shall immediately report to the Board any material changesin the information contained in an application for registration.
C. Nothing shall prevent a developer from registering with the Board atime-share project where construction is yet to begin, or if begun, is notyet complete.
(Code 1950, § 55-391; 1981, c. 462; 1985, c. 517; 1994, c. 580; 1998, c. 460.)
