(1) The developer shall maintain the following records for a period of at least four (4) years:
- (a) The names, addresses, and dates of employment (and if applicable, termination) of all persons (including acquisition agents and sales agents) employed by the developer for time-share sales purposes in the State of Tennessee.
- (b) Copies of sales contracts and documentation reflecting the disposition of all purchase money received thereunder.
- (c) Copies of agreements entered into with managing agents for the management of the time-share program.
- (d) Copies of agreements entered into with exchange agents for the affiliation of the time- share project with an exchange program.
- (2) All records required to be kept under this rule shall be made available to the Commission or its authorized representatives upon reasonable request.
Authority: T.C.A. § 66-32-121. Administrative History: Original rule filed April 17, 1985; effective May 17, 1985.