California Code of Regulations
Title 10 - Investment
Chapter 6 - Real Estate Commissioner
Article 12.2 - Time-Share Project
Section 2805.11 - Impound of Funds to Assure Completion
Universal Citation: 10 CA Code of Regs 2805.11
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
"All funds from the sale of time-share interests as the commissioner shall determine are sufficient to assure construction of the improvement or improvements" as used in Section 11230(b) of the Code, means 100% of all funds received from purchasers up to a maximum of the amount required to complete the improvement or improvements, consistent with Section 11243 of the Code.
1. New section filed 5-5-2005; operative 7-1-2005 (Register 2005, No. 18).
Note: Authority cited: Section 11281, Business and Professions Code. Reference: Sections 11230 and 11243, Business and Professions Code.
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