- 1. The public offering statement shall provide full and accurate disclosure in accordance with 18VAC48-45-150.
- 2. The public offering statement shall pertain to the time-share program in which the time-shares are offered .
- 3. The public offering statement shall be clear, organized, and legible.
- 4. Except for brief excerpts, the public offering statement may refer to, but should not incorporate verbatim, portions of the time-share instruments, the Virginia Real Estate Time-Share Act, or this chapter. This does not preclude compliance with 18VAC48-45-170.
In addition to the provisions of § 55.1-2217 of the Code of Virginia, the following will be considered, as applicable, during review of the public offering statement:
Statutory Authority
§§ 54.1-2349 and 55.1-2247 of the Code of Virginia.
Historical Notes
Derived from Virginia Register Volume 32, Issue 10, eff. March 1, 2016; amended, Virginia Register Volume 36, Issue 6, eff. December 30, 2019; Volume 37, Issue 3, eff. December 1, 2020.