Exemption From Other State Laws Requiring Registration and Public Offering Statements

  1. Law
  2. Georgia Code
  3. Property
  4. Regulation of Specialized Land Transactions
  5. Time-Share Projects and Programs
  6. Developers and Exchange Companies
  7. Exemption From Other State Laws Requiring Registration and Public Offering Statements

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  1. Any time-share program registered under this article in which a public offering statement has been prepared shall not require registration under any of the following:
    1. Article 1 of this chapter;
    2. Chapter 5 of Title 10; or
    3. Any other state law which requires the preparation of a public offering statement or substantially similar document for distribution to purchasers.
  2. Any time-share program registered under this article that fails to restrict the price at which an owner may sell or exchange such owner's time-share interval shall not by virtue of such failure cause the time-share interval to become a security under Chapter 5 of Title 10; nor shall an exchange program offering such a time-share interval for exchange be construed to be offering a security under Chapter 5 of Title 10.

(Code 1981, §44-3-177, enacted by Ga. L. 1983, p. 1255, § 1; Ga. L. 1995, p. 1260, § 1.)


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