If the declaration provides that ownership or occupancy of any units is or may be in time-shares, the original sale certificate shall disclose, in addition to the information required by section 448.4-103:
- (1) The number and identity of units in which time-shares may be created;
- (2) The total number of time-shares which may be created;
- (3) The minimum duration of any time-shares which may be created; and
- (4) The extent to which the creation of time-shares will or may affect the enforceability of the association's lien for assessments provided in section 448.3-116.
(L. 1983 H.B. 177)