If a declarant reserves an option in the declaration to not expand the condominium, the declarant shall:

1. (1) make a full disclosure of that option to every prospective buyer in writing before the buyer enters an agreement to purchase a condominium unit; and

2. (2) obtain and retain an instrument acknowledging receipt of that disclosure by the prospective buyer.

   [Pre-2002 Recodification Citation: 32-1-6-15.5.]

As added by P.L.2-2002, SEC.10.