Preexisting time-share units and time-share plans for preexisting time-share units must comply with the requirements of this chapter and the provisions of SDCL 43-15B by January 1, 1985.

Time-share units not existing by July 1, 1983, are subject to this chapter when it takes effect.

A developer, agent, or plan manager shall submit evidence, such as an agreement, contract, or document, at the time of filing of a preexisting time-share plan to show that a time-share unit or plan was created prior to July 1, 1983.

Preexisting time-share plans must be filed on a form prescribed by the commission.

Source: 10 SDR 68, effective January 1, 1984; 12 SDR 102, effective December 22, 1985; 12 SDR 151, 12 SDR 155, effective July 1, 1986; transferred from § 20:56:20:24, August 16, 1993.

General Authority: SDCL 36-21A-89 , 43-15B-6.

Law Implemented: SDCL 43-15B-3 , 43-15B-6.