---
title: O.C.G.A. § 44-3-178. Exceptions to public offering statement requirement under this article.
collection: code
id: 44-3-178
cite_as: O.C.G.A. § 44-3-178 (2025)
canonical_url: https://georgiacommons.org/code/44-3-178
md_url: https://georgiacommons.org/code/44-3-178.md
text_url: https://georgiacommons.org/code/44-3-178/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.
up: https://georgiacommons.org/code/44-3.md
previous: https://georgiacommons.org/code/44-3-177.md
next: https://georgiacommons.org/code/44-3-179.md
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. § 44-3-178. Exceptions to public offering statement requirement under this article.

(a) In lieu of the public offering statement required by this article, the developer may give prospective purchasers a public offering statement or similar disclosure document which meets the requirements of the Federal Securities and Exchange Act of 1933 or, if the time-share project is located in another state, a public offering statement or similar disclosure document which that state may require to be prepared and provided to purchasers.

(b) A public offering statement need not be prepared or delivered in the case of:

(1) A transfer of a time-share interval by any time-share interval owner or user other than the developer or such developer’s agent;

(2) A disposition pursuant to court order;

(3) A disposition by a government or governmental agency;

(4) A disposition by foreclosure or deed in lieu of foreclosure;

(5) A disposition of a time-share interval in a time-share project situated wholly outside this state, provided that all solicitations and negotiations took place wholly outside this state and the sales agreement was executed wholly outside this state;

(6) A gratuitous transfer of a time-share interval; or

(7) Group reservations made for 15 or more people as a single transaction between a hotel and travel agent or travel groups for hotel accommodations when deposits are made and held for more than three years in advance.

## History

Code 1981, § 44-3-178, enacted by Ga. L. 1983, p. 1255, § 1; Ga. L. 1984, p. 22, § 44; Ga. L. 1995, p. 1260, § 1.