2019 Tennessee Code
Title 66 - Property
Chapter 32 - Time-Share Programs and Vacation Clubs
Part 1 - Time-Share Act of 1981
§ 66-32-108. Developer control.
(a) The time-share instruments for a time-share estate program may provide for a “developer control period,” during which the developer or a managing agent selected by the developer may manage the time-share program and the units in the time-share program.
(b) If the time-share instruments for a time-share estate program provide for the establishment of a developer control period, they shall ordinarily include provisions for the following:
(1) Termination of the developer control period by action of the association;
(2) Termination of contracts for goods and services for the time-share program or for units in the time-share program entered into during the developer control period; and
(3) A regular accounting by the developer to the association as to all matters that significantly affect the interests of owners in the time-share program.