1. (a) A timeshare program seeking registration shall apply to the Commission on a form available on the Commission's website and shall, in addition to the requirements set forth in G.S. 93A-52, set forth:

   1. (1) the timeshare program's physical and mailing address and telephone number;
   2. (2) the developer's name, address, telephone number, email address, type of business structure with supporting documentation, and legal counsel's contact information, if any;
   3. (3) information concerning the developer's title or right to use the real property on which the project is located, including a title opinion provided by an independent attorney performed within 30 days preceding the date of application;
   4. (4) a description of the timeshare estate to be sold or conveyed to purchasers;
   5. (5) the developer's past real estate development experience and any criminal, bankruptcy, and occupational licensing history;

   6. (6) the developer's financial information including the following:

      1. (A) an audited financial statement within the previous six months;
      2. (B) loan commitments for completion of the timeshare program; and
      3. (C) a projected budget for construction, marketing, and operations of the timeshare program;

   7. (7) the Registrar, Program Broker, marketing entity, and managing entity's:

      1. (A) name;
      2. (B) business and email address;
      3. (C) real estate license number, if applicable;
      4. (D) telephone number; and

      5. (E) executed Affidavit of Designation, if applicable, that includes:

         1. (i) the timeshare program name, registration number, and address;
         2. (ii) the name of the designated individual and license number, if applicable, or financial institute;
         3. (iii) the designated individual's address, email address, and telephone number; and
         4. (iv) a notarized signature of the designated individual.
   8. (8) the names and real estate license number of brokers associated with the timeshare program; and
   9. (9) a signed affidavit by the developer.
2. (b) An entity that owns time shares at a timeshare program where there are one or more existing registered developers may also apply to the Commission for registration of its timeshares, provided that the entity does not control a registered developer, is not controlled by a registered developer, and is not in common control of the program with a registered developer.

History Note: Authority G.S. 93A‑51; 93A-52;
Eff. March 1, 1984;
Amended Eff. July 1, 2000; August 2, 1993; February 1, 1989; April 1, 1987;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. May 1, 2018;
Amended Eff. July 1, 2022.