2017 California Code
Business and Professions Code - BPC
DIVISION 4 - REAL ESTATE
PART 2 - REGULATION OF TRANSACTIONS
CHAPTER 2 - The Vacation Ownership and Time-Share Act of 004
ARTICLE 1 - General Provisions
(a) This chapter applies to all of the following:
(1) Time-share plans with an accommodation or component site in this state.
(2) Time-share plans without an accommodation or component site in this state, if those time-share plans are sold or offered to be sold to any individual located within this state.
(3) Exchange programs as defined in this chapter.
(4) Short-term products as defined in this chapter.
(b) This chapter does not apply to any of the following:
(1) Time-share plans, whether or not an accommodation is located in this state, consisting of 10 or fewer time-share interests. Use of an exchange program by owners of time-share interests to secure access to other accommodations shall not affect this exemption.
(2) Time-share plans, whether or not an accommodation is located in this state, the use of which extends over any period of three years or less.
(3) Time-share plans, whether or not an accommodation is located in this state, under which the prospective purchaser’s total financial obligation will be equal to or less than three thousand dollars ($3,000) during the entire term of the time-share plan.
(c) For purposes of determining the term of a time-share plan, the period of any renewal or renewal option shall be included.
(d) Single site time-share plans located outside the state and component sites of multisite time-share plans located outside the state, that are offered for sale or sold in this state are subject only to Sections 11210 to 11219, inclusive, Sections 11225 to 11246, inclusive, Sections 11250 to 11256, inclusive, paragraphs (1), (2), (3), and (4) of subdivision (a), and subdivisions (b) and (c), of Section 11265, subdivision (g) of Section 11266, subdivisions (a) and (c) of Section 11267, Sections 11272 and 11273, subdivisions (b), (c), and (d) of Section 11274, and Sections 11280 to 11287, inclusive.
(Amended by Stats. 2006, Ch. 429, Sec. 1. Effective September 22, 2006. Operative January 1, 2007, by Sec. 12 of Ch. 429.)