Browse Arkansas Code titles and sections
18-14-205. Material changes.
Arkansas Code — all titles (historical 2020) · legal_authorities
18-14-205. Material changes.
(a) A developer shall amend or supplement its registration to report a material change in the information required by § 18-14-204.
(b)(1) If there is a material change in a registration document, the developer shall file an amendment with the Arkansas Real Estate Commission to report the material change no later than forty-five (45) days after the developer knows or reasonably should have known of the change.
(2) The developer may continue to offer and dispose of time-share interests under the existing registration pending review of the amendments by the commission if the developer discloses the material change to prospective purchasers.
(3) The commission may charge a fee not to exceed three hundred dollars ($300) to process an amendment.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 18-14-205
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
Issuing source page ↗
Authority boundary: historical statutory source snapshot not current law.
Open the recorded source website ↗
Record provenance
Stable record: arkansas_code:legal_authorities:18-14-205
Source file: gov.ar.code.title.18.odt
Pages: Not recorded – Not recorded
Passage SHA-256: a5045cdb156262fdce5d6c0c67f3a965bc773c1dedcecc024bf74f6543a0ed3f
Source location: content.xml paragraph 2681
Stored source content
18-14-205. Material changes.
(a) A developer shall amend or supplement its registration to report a material change in the information required by § 18-14-204.
(b)(1) If there is a material change in a registration document, the developer shall file an amendment with the Arkansas Real Estate Commission to report the material change no later than forty-five (45) days after the developer knows or reasonably should have known of the change.
(2) The developer may continue to offer and dispose of time-share interests under the existing registration pending review of the amendments by the commission if the developer discloses the material change to prospective purchasers.
(3) The commission may charge a fee not to exceed three hundred dollars ($300) to process an amendment.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Arkansas Code — all titles (historical 2020) · legal_authorities
18-14-204. Application for registration.
(a) An application for registration of a time-share plan shall contain:
(1) The public offering statement;
(2) A brief description of the time-share property;
(3) Copies of time-share instruments;
(4) Financial statements prepared according to generally accepted accounting principles and fully and fairly disclosing the current financial condition of the developer;
(5) Any other documents referred to in the registration application; and
(6) Other information as required by the Arkansas Real Estate Commission.
(b)(1) If the accommodation in the time-share plan is in a condominium development or other common-interest subdivision, the application for registration shall contain evidence that the use of the accommodation for time-share purposes is not prohibited by the project instruments.
(2) If the project instruments do not expressly authorize time-sharing, the application for registration shall contain evidence that purchasers in the condominium development or other common-interest subdivision were given written notice at least sixty (60) days before the application for registration was submitted that the accommodation would be used for time-share purposes.
(3) If the project instruments contain a prohibition against time-sharing, the board of directors of the association shall certify that the amendment procedures in the project instruments were followed and that the project instruments have been amended to permit time-sharing.
(c) The application shall be accompanied by a filing fee not to exceed one thousand dollars ($1,000).
(d)(1) The commission shall thoroughly investigate matters relating to the application and may require a personal inspection of the time-share property by a person designated by it.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 18-14-204
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 18-14-204. This identifies an authority to review, not proof of applicability.