Time Share Public Report Prepartion {RE 622H}

RE 622H, TIME-SHARE PUBLIC REPORT PREPARATION, Section 11234 of the Business and Professions Code (B&P Code) states a developer shall prepare, for issuance by the Commissioner, a public report that shall fully and accurately disclose those facts concerning the time-share developer and time-share plan that are required by this chapter or by regulation. The developer shall provide the public report to each purchaser of a time-share interest in any time-share plan at the time of purchase. The public report shall be in writing and dated and shall require the purchaser to certify in writing the receipt thereof. For time-share plans located outside of the state, a public report that has been authorized for use by the situs state regulatory agency that contains disclosures as determined by the Commissioner upon review to be substantially equivalent to or greater than the information required to be disclosed pursuant to this section may be used by the developer to meet the requirements of this section. www.FormsWorkflow.com