2012 California Codes
BPC - Business and Professions Code
DIVISION 4 - REAL ESTATE [10000 - 11506]
PART 2 - REGULATION OF TRANSACTIONS
CHAPTER 2 - The Vacation Ownership and Time-Share Act of 2004
ARTICLE 3 - Time-Share Plan Requirements
Section 11252
In a time-share plan offering time-share use interests, the developer shall not encumber the accommodations of the time-share plan in a manner that could materially and adversely affect the use rights of the purchasers of the accommodations without the written assent of not less than 51 percent of the time-share interest owners other than the developer. This section shall not prevent the developer from encumbering the purchaser’s use rights so long as the developer has sufficient protection as permitted by Section 11244.
(Added by Stats. 2004, Ch. 697, Sec. 14. Effective January 1, 2005. Operative July 1, 2005, by Section 11288.)
Disclaimer: These codes may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
