18-14-405. Material changes.

Arkansas Code — all titles (historical 2020) · legal_authorities

18-14-405. Material changes. (a) The developer shall amend or supplement the public offering statement to report any material change in the information required by § 18-14-404. (b) The developer shall use the written materials that are supplied to it by an exchange program for distribution to the time-share interest owners as the materials are received.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 18-14-405

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.

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Arkansas Code — all titles (historical 2020) · legal_authorities

18-14-404. Required contents of public offering statements for time-share interests.

18-14-404. Required contents of public offering statements for time-share interests. (a) A public offering statement shall be provided to each purchaser of a time-share interest and may be delivered by hard copy or electronically, including a CD, DVD, thumb drive, or other electronic media agreeable to the purchaser. The public offering statement shall fully and accurately disclose: (1) The name of the developer, its principal address, and the time-share plan offered in the statement; (2) A general description of the accommodations, including, without limitation, the developer's schedule of commencement and completion of all buildings, accommodations, and amenities or, if completed, that the buildings, accommodations, and amenities have been completed; (3) As to the accommodations offered by the developer in the time-share plan: (A) The types and number of accommodations by location, if applicable; (B) Identification of accommodations that are subject to time-share interests; and (C) The estimated number of accommodations that may become subject to time-share interests; (4) A brief description of the time-share plan; (5)(A) If applicable, the current budget and a projected budget for the time-share interests for one (1) year after the date of the first transfer to a purchaser. (B) The budget shall include, without limitation: (i) A statement of the amount included in the budget as a reserve for repairs and replacement; (ii) The projected common expense liability, if any, by category or expenditures for the time-share interests; (iii) The total annual projected common expense liability for all time-share interests in the time-share plan; and (iv) A statement of any services not shown in the budget that the developer provides or expenses that i

Source: Arkansas Code — historical release 78 (November 6, 2020) · 18-14-404

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 18-14-404. This identifies an authority to review, not proof of applicability.