Section 34.08.550. Time shares.

If the declaration provides that ownership or occupancy of a unit is or may be in time shares, the public offering statement must disclose, in addition to the information required by AS 34.08.530,
        (1) the number and identity of units in which time shares may be created;
        (2) the total number of time shares that may be created;
        (3) the minimum duration of any time shares that may be created;
        (4) the extent to which the creation of time shares will or may affect the enforceability of the lien of the association for assessments under AS 34.08.470;
        (5) any restraint on the power of the purchaser of the time-share unit to transfer the interest in the time-share unit;
        (6) whether the time-share unit is included in an exchange program, the present cost and a good faith estimate of the future cost to the purchaser from the exchange program; and
        (7) whether the purchaser is required to become a member of the exchange program.

Notes

History

(Sec. 1 ch 95 SLA 1985)