Unless the subdivided lands or the transaction is exempt under section 55-1805 , Idaho Code, it shall be unlawful for any person to make in this state:

1. (1) Any offer or disposition of any interest in subdivided lands located without this state prior to the time that the subdivided lands are registered in accordance with this chapter.
2. (2) Any offer or disposition of any interest in a time shared property located within or without this state prior to the time that the time shared property is registered in accordance with this chapter.

3. (3) Any disposition of any interest in subdivided lands without delivering to the purchaser an effective current public offering statement, obtaining a dated and signed receipt and affording the purchaser a reasonable opportunity to examine the statement.

   An offer is made in this state, whether or not the offeror or offeree is then present in this state, if the offer originates within this state or is directed by the offeror to a person or place in this state and received by the person or at the place to which it is directed.

[55-1804, added 1972, ch. 276, sec. 4, p. 667; am. 1984, ch. 61, sec. 2, p. 110; am. 2010, ch. 214, sec. 4, p. 469.]