North Carolina Administrative Code
Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS
Chapter 58 - REAL ESTATE COMMISSION
Subchapter B - TIMESHARES
Section .0100 - TIMESHARE PROGRAM REGISTRATION
Section 58B .0103 - RENEWAL OF TIMESHARE PROGRAM REGISTRATION

Universal Citation: 21 NC Admin Code 58B .0103

Current through Register Vol. 39, No. 6, September 16, 2024

(a) A developer seeking renewal of a timeshare program registration shall submit a renewal application on a form available on the Commission's website that sets forth the:

(1) timeshare program's name, registration number, and mailing address;

(2) developer's name, telephone number, and email address;

(3) names and license numbers of brokers associated with the timeshare program;

(4) exchange programs associated with the timeshare program along with a current copy of the Exchange Disclosure Report pursuant to G.S. 93A-48;

(5) name, address, email address, telephone number, real estate broker license number if applicable, and the assignment date for the:
(A) managing entity;

(B) marketing entity;

(C) registrar pursuant to G.S. 93A-58(a);

(D) independent escrow agent pursuant to G.S. 93A-42(a); and

(E) program broker pursuant to 93A-58(c);

(6) certification that the information contained in the renewal registration is accurate and current on the date of the renewal application; and

(7) developer's attorney or program broker's signature.

(b) The developer shall submit a renewal registration fee of eight hundred dollars ($800.00) for timeshare programs not offered for resale by a homeowners association. A homeowners association shall submit a renewal registration fee of four hundred fifty dollars ($450.00).

(c) Making a false certification on a time share project registration renewal application shall be grounds for disciplinary action by the Commission pursuant to G.S. 93A-54(b)(13).

Authority G.S. 93A-51; 93A-52(d);
Eff. March 1, 1984;
Temporary Amendment Eff. May 23, 1985;
Amended Eff. July 1, 2016; April 1, 2013; February 1, 1989; September 1, 1985;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. May 1, 2018;
Amended Eff. July 1, 2022; July 1, 2018.

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