Skip to content
Georgia Commons
Menu

Official Code of Georgia Annotated

Title 44. PROPERTY · Chapter 3. REGULATION OF SPECIALIZED LAND TRANSACTIONS · Article 5. TIME-SHARE PROJECTS AND PROGRAMS · Part 3. Developers and Exchange Companies

44-3-177. Exemption from other state laws requiring registration and public offering statements.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. (a)

    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. (1)

      Article 1 of this chapter;#

    2. (2)

      Chapter 5 of Title 10; or#

    3. (3)

      Any other state law which requires the preparation of a public offering statement or substantially similar document for distribution to purchasers.#

  2. (b)

    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.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

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

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t44-ch1-7-(v31)-2010-pdf.pdf, Volume V31, 2010 edition, page 298; merge action: carried; file SHA-256 490191d3dc54.