California Code of Regulations
Title 10 - Investment
Chapter 6 - Real Estate Commissioner
Article 12.2 - Time-Share Project
Section 2805 - "Developer" Defined

The terms "developer" in Section 11212 and "any person" in Section 11212 and in Section 11226 of the Code include any person, who at any point in time, owns, or has an option or contract to acquire eleven or more time-share interests for purposes of sale in the ordinary course of business if the time-share interests were acquired or are to be acquired from the original recipient of a public report for the time-share plan, or from a person who succeeded to the interest of the original recipient in eleven or more time-share interests in a time-share plan.

1. New section filed 2-26-85; effective thirtieth day thereafter (Register 85, No. 9). For history of former Section 2805, see Register 83, No. 30.
2. Amendment of subsection (a) filed 11-27-96; operative 12-27-96 (Register 96, No. 48).
3. Amendment moving section 2805 from article 12.1 to article 12.2. and repealer and new section filed 5-5-2005; operative 7-1-2005 (Register 2005, No. 18).
4. Amendment of section and NOTE filed 8-29-2007; operative 9-28-2007 (Register 2007, No. 35).

Note: Authority cited: Section 11281, Business and Professions Code. Reference: Sections 11211.5, 11212 and 11226, Business and Professions Code.