- (1) A gratuitous disposition;
- (2) A disposition pursuant to court order;
- (3) A disposition by a government or governmental agency;
- (4) A disposition by foreclosure or deed in lieu of foreclosure or by enforcement of a lien or security interest;
- (5) A disposition that may be canceled at any time and for any reason by the purchaser without penalty;
- (6) A disposition of a time-share in a unit situated wholly outside this State pursuant to a contract executed and negotiated wholly outside this State; or
- (7) A disposition of a time-share project or all time-shares therein to one purchaser.
Persons engaged in the following transactions involving time-shares are not required to register with the Commission, to prepare a public offering statement, or to deliver documents described in § 11A-115 of this title:
Added by Acts 1984, c. 579, § 1, eff. Jan. 1, 1985. Amended by Acts 1985, c. 721.