A developer or agent of time-share plans or units may not do any of the following:

1. (1) Use a promotional device without fully disclosing that the device is being used for the purpose of soliciting sales of time-share plans or units;

2. (2) Misrepresent or deceptively represent a material fact concerning the time-share plans or time-share units, including the following:

   1. (a) The amount or period of time the units and facilities will be available to a purchaser;
   2. (b) The location or locations of the offered units and facilities;
   3. (c) The size, nature, or characteristics of the offered units and facilities;
   4. (d) The rights of a purchaser, if any, to exchange the purchaser's rights to units in one location for rights to units in another location; and
   5. (e) The contents of the contract or the purchaser's rights, privileges, or benefits under the contract;
   6. (4) Fail to honor or comply with all provisions of the contract with the purchaser; and
   7. (5) Include, in any contract, provisions purporting to waive a right or benefit provided for purchases pursuant to law.

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; 16 SDR 36, effective August 29, 1989; transferred from § 20:56:20:38, August 16, 1993.

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

Law Implemented: SDCL 36-21A-47 , 36-21A-71 , 43-15B-3 , 43-15B-6.