---
title: O.C.G.A. § 44-3-177. Exemption from other state laws requiring registration and public offering statements.
collection: code
id: 44-3-177
cite_as: O.C.G.A. § 44-3-177 (2025)
canonical_url: https://georgiacommons.org/code/44-3-177
md_url: https://georgiacommons.org/code/44-3-177.md
text_url: https://georgiacommons.org/code/44-3-177/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t44-ch1-7-(v31)-2010-pdf.pdf?sfvrsn=35dd922f_0#page=298
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: PROPERTY / REGULATION OF SPECIALIZED LAND TRANSACTIONS / TIME-SHARE PROJECTS AND PROGRAMS / Developers and Exchange Companies
---

# O.C.G.A. § 44-3-177. Exemption from other state laws requiring registration and public offering statements.

(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) 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.

(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.

## History

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