A. The Board may adopt, amend, and repeal rules and regulations and issueorders consistent with and in furtherance of the objectives of this chapter.The Board may prescribe forms and procedures for submitting information tothe Board.
B. The Board may accept grants in aid from any governmental source and maycontract with agencies charged with similar functions in this or otherjurisdictions, in furtherance of the objectives of this chapter.
C. The Board may cooperate with agencies performing similar functions in thisand other jurisdictions to develop uniform filing procedures and forms,uniform disclosure standards, and uniform administrative practices, and maydevelop information that may be useful in the discharge of the Board's duties.
D. 1. If the Board determines after legal notice and opportunity for hearingthat a developer or agent of developer has:
a. Made any representation in any document or information filed with theBoard which is false or misleading;
b. Engaged or is engaging in any unlawful act or practice;
c. Disseminated or caused to be disseminated orally, or in writing, any falseor misleading promotional materials in connection with a time-share program;
d. Concealed, diverted, or disposed of any funds or assets of any person in amanner impairing rights of purchasers of time-shares in the time-shareprogram;
e. Failed to perform any stipulation or agreement made to induce the Board toissue an order relating to that time-share program;
f. Otherwise violated any provision of this chapter or any of the Board'srules and regulations or orders; or
g. Disposed of any time-share in a project without first complying with therequirements of this chapter, it may issue an order requiring the developerto cease and desist from the unlawful practice and to take such affirmativeaction as in the judgment of the Board will carry out the purposes of thischapter.
2. If the Board makes a finding of fact at a hearing that the public interestwill be irreparably harmed by delay in issuing an order, as prescribed insubdivision 1 of this subsection, it may issue a temporary cease and desistorder. With the issuance of a temporary cease and desist order, the Board, byregistered mail or other personal written service, shall give notice of theissuance to the developer. Every temporary cease and desist order shallinclude in its terms:
a. A provision clearly stating the reasons for issuing such cease and desistorder, the date of the hearing on its issuance, and the nature and extent ofthe facts and findings on which the order was based;
b. A provision that a hearing by the Board may be held, after due notice butnot more than fifteen days from the date such temporary cease and desistorder is effective, to determine whether or not a cease and desist order ascalled for in the immediately preceding subsection shall be issued;
c. A provision that such temporary cease and desist order may remain in fullforce for a period of not more than fifteen days from the date of itsissuance or the date on which the Board has determined that an order asprescribed in subdivision 1 of this subsection is to be issued, whichevershall occur first; and
d. A provision that a failure to comply with such temporary cease and desistorder will be a violation of this chapter. The Board shall not issue morethan one temporary cease and desist order with reference to such finding offact as prescribed in this subsection.
E. The Board may also issue a cease and desist order if the developer has notregistered the time-share program as required by this chapter.
F. The Board, after notice and hearing, may issue an order revoking theregistration of the developer's time-share program upon determination thatsuch developer or agent thereof has failed to comply with a cease and desistorder issued by the Board affecting the developer's time-share program.
G. If it appears that any person has engaged, is engaging, or is about toengage in any act or practice in violation of this chapter or any of theBoard's rules or orders applicable thereto, the Board, without prioradministrative proceedings, may bring suit in the circuit court of the cityor county in which any portion of the time-share project is located to enjointhat act or practice or for other appropriate relief. The Board is notrequired to post a bond or prove that no adequate remedy at law exists.
H. Upon request of a time-share owner, the Board shall, in accordance withsubsection B of § 55-382, issue its determination whether compliance with §55-375 or 55-386 has occurred.
(1981, c. 462; 1985, c. 517; 1998, c. 460; 2008, c. 376.)
A. The Board may adopt, amend, and repeal rules and regulations and issueorders consistent with and in furtherance of the objectives of this chapter.The Board may prescribe forms and procedures for submitting information tothe Board.
B. The Board may accept grants in aid from any governmental source and maycontract with agencies charged with similar functions in this or otherjurisdictions, in furtherance of the objectives of this chapter.
C. The Board may cooperate with agencies performing similar functions in thisand other jurisdictions to develop uniform filing procedures and forms,uniform disclosure standards, and uniform administrative practices, and maydevelop information that may be useful in the discharge of the Board's duties.
D. 1. If the Board determines after legal notice and opportunity for hearingthat a developer or agent of developer has:
a. Made any representation in any document or information filed with theBoard which is false or misleading;
b. Engaged or is engaging in any unlawful act or practice;
c. Disseminated or caused to be disseminated orally, or in writing, any falseor misleading promotional materials in connection with a time-share program;
d. Concealed, diverted, or disposed of any funds or assets of any person in amanner impairing rights of purchasers of time-shares in the time-shareprogram;
e. Failed to perform any stipulation or agreement made to induce the Board toissue an order relating to that time-share program;
f. Otherwise violated any provision of this chapter or any of the Board'srules and regulations or orders; or
g. Disposed of any time-share in a project without first complying with therequirements of this chapter, it may issue an order requiring the developerto cease and desist from the unlawful practice and to take such affirmativeaction as in the judgment of the Board will carry out the purposes of thischapter.
2. If the Board makes a finding of fact at a hearing that the public interestwill be irreparably harmed by delay in issuing an order, as prescribed insubdivision 1 of this subsection, it may issue a temporary cease and desistorder. With the issuance of a temporary cease and desist order, the Board, byregistered mail or other personal written service, shall give notice of theissuance to the developer. Every temporary cease and desist order shallinclude in its terms:
a. A provision clearly stating the reasons for issuing such cease and desistorder, the date of the hearing on its issuance, and the nature and extent ofthe facts and findings on which the order was based;
b. A provision that a hearing by the Board may be held, after due notice butnot more than fifteen days from the date such temporary cease and desistorder is effective, to determine whether or not a cease and desist order ascalled for in the immediately preceding subsection shall be issued;
c. A provision that such temporary cease and desist order may remain in fullforce for a period of not more than fifteen days from the date of itsissuance or the date on which the Board has determined that an order asprescribed in subdivision 1 of this subsection is to be issued, whichevershall occur first; and
d. A provision that a failure to comply with such temporary cease and desistorder will be a violation of this chapter. The Board shall not issue morethan one temporary cease and desist order with reference to such finding offact as prescribed in this subsection.
E. The Board may also issue a cease and desist order if the developer has notregistered the time-share program as required by this chapter.
F. The Board, after notice and hearing, may issue an order revoking theregistration of the developer's time-share program upon determination thatsuch developer or agent thereof has failed to comply with a cease and desistorder issued by the Board affecting the developer's time-share program.
G. If it appears that any person has engaged, is engaging, or is about toengage in any act or practice in violation of this chapter or any of theBoard's rules or orders applicable thereto, the Board, without prioradministrative proceedings, may bring suit in the circuit court of the cityor county in which any portion of the time-share project is located to enjointhat act or practice or for other appropriate relief. The Board is notrequired to post a bond or prove that no adequate remedy at law exists.
H. Upon request of a time-share owner, the Board shall, in accordance withsubsection B of § 55-382, issue its determination whether compliance with §55-375 or 55-386 has occurred.
(1981, c. 462; 1985, c. 517; 1998, c. 460; 2008, c. 376.)
A. The Board may adopt, amend, and repeal rules and regulations and issueorders consistent with and in furtherance of the objectives of this chapter.The Board may prescribe forms and procedures for submitting information tothe Board.
B. The Board may accept grants in aid from any governmental source and maycontract with agencies charged with similar functions in this or otherjurisdictions, in furtherance of the objectives of this chapter.
C. The Board may cooperate with agencies performing similar functions in thisand other jurisdictions to develop uniform filing procedures and forms,uniform disclosure standards, and uniform administrative practices, and maydevelop information that may be useful in the discharge of the Board's duties.
D. 1. If the Board determines after legal notice and opportunity for hearingthat a developer or agent of developer has:
a. Made any representation in any document or information filed with theBoard which is false or misleading;
b. Engaged or is engaging in any unlawful act or practice;
c. Disseminated or caused to be disseminated orally, or in writing, any falseor misleading promotional materials in connection with a time-share program;
d. Concealed, diverted, or disposed of any funds or assets of any person in amanner impairing rights of purchasers of time-shares in the time-shareprogram;
e. Failed to perform any stipulation or agreement made to induce the Board toissue an order relating to that time-share program;
f. Otherwise violated any provision of this chapter or any of the Board'srules and regulations or orders; or
g. Disposed of any time-share in a project without first complying with therequirements of this chapter, it may issue an order requiring the developerto cease and desist from the unlawful practice and to take such affirmativeaction as in the judgment of the Board will carry out the purposes of thischapter.
2. If the Board makes a finding of fact at a hearing that the public interestwill be irreparably harmed by delay in issuing an order, as prescribed insubdivision 1 of this subsection, it may issue a temporary cease and desistorder. With the issuance of a temporary cease and desist order, the Board, byregistered mail or other personal written service, shall give notice of theissuance to the developer. Every temporary cease and desist order shallinclude in its terms:
a. A provision clearly stating the reasons for issuing such cease and desistorder, the date of the hearing on its issuance, and the nature and extent ofthe facts and findings on which the order was based;
b. A provision that a hearing by the Board may be held, after due notice butnot more than fifteen days from the date such temporary cease and desistorder is effective, to determine whether or not a cease and desist order ascalled for in the immediately preceding subsection shall be issued;
c. A provision that such temporary cease and desist order may remain in fullforce for a period of not more than fifteen days from the date of itsissuance or the date on which the Board has determined that an order asprescribed in subdivision 1 of this subsection is to be issued, whichevershall occur first; and
d. A provision that a failure to comply with such temporary cease and desistorder will be a violation of this chapter. The Board shall not issue morethan one temporary cease and desist order with reference to such finding offact as prescribed in this subsection.
E. The Board may also issue a cease and desist order if the developer has notregistered the time-share program as required by this chapter.
F. The Board, after notice and hearing, may issue an order revoking theregistration of the developer's time-share program upon determination thatsuch developer or agent thereof has failed to comply with a cease and desistorder issued by the Board affecting the developer's time-share program.
G. If it appears that any person has engaged, is engaging, or is about toengage in any act or practice in violation of this chapter or any of theBoard's rules or orders applicable thereto, the Board, without prioradministrative proceedings, may bring suit in the circuit court of the cityor county in which any portion of the time-share project is located to enjointhat act or practice or for other appropriate relief. The Board is notrequired to post a bond or prove that no adequate remedy at law exists.
H. Upon request of a time-share owner, the Board shall, in accordance withsubsection B of § 55-382, issue its determination whether compliance with §55-375 or 55-386 has occurred.
(1981, c. 462; 1985, c. 517; 1998, c. 460; 2008, c. 376.)
