21 NCAC 58B .0103          RENEWAL OF TIMESHARE PROGRAM REGISTRATION

(a)  A developer seeking renewal of a timeshare program registration shall submit a renewal application on a form available on the Commission's website that sets forth the:

(1)           timeshare program's name, registration number, and mailing address;

(2)           developer's name, telephone number, and email address;

(3)           names and license numbers of brokers associated with the timeshare program;

(4)           exchange programs associated with the timeshare program along with a current copy of the Exchange Disclosure Report pursuant to G.S. 93A-48;

(5)           name, address, email address, telephone number, real estate broker license number if applicable, and the assignment date for the:

(A)          managing entity;

(B)          marketing entity;

(C)          registrar pursuant to G.S. 93A-58(a);

(D)          independent escrow agent pursuant to G.S. 93A-42(a); and

(E)           program broker pursuant to 93A-58(c);

(6)           certification that the information contained in the renewal registration is accurate and current on the date of the renewal application; and

(7)           developer's attorney or program broker's signature.

(b)  The developer shall submit a renewal registration fee of eight hundred dollars ($800.00) for timeshare programs not offered for resale by a homeowners association. A homeowners association shall submit a renewal registration fee of four hundred fifty dollars ($450.00).

(c)  Making a false certification on a time share project registration renewal application shall be grounds for disciplinary action by the Commission pursuant to G.S. 93A-54(b)(13).

History Note:        Authority G.S. 93A‑51; 93A‑52(d);

Eff. March 1, 1984;

Temporary Amendment Eff. May 23, 1985;

Amended Eff. July 1, 2016; April 1, 2013; February 1, 1989; September 1, 1985;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. May 1, 2018;

Amended Eff. July 1, 2022; July 1, 2018.