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2021 Tennessee Code
Title 66 - Property
Chapter 32 - Time-Share Programs and Vacation Clubs
Part 2 - Vacation Club Act of 1995
§ 66-32-207. Developers Subject to Commission — Prerequisites to Vacation Club Offering
Universal Citation: TN Code § 66-32-207 (2021)
- A developer of a vacation club interest shall in all respects be subject to the authority of the commission and any rules and regulations promulgated by the commission.
- Unless specifically exempted, a developer of a vacation club interest may not offer or dispose of a vacation club interest unless it is registered with the commission under § 66-32-123, and pays any fee required by § 66-32-123.
- Prior to offering any vacation club intervals in a vacation club, a developer shall provide the commission:
- Satisfactory evidence of the existence of the time-share intervals that are part of the vacation club;
- The marketing plan for the vacation club;
- Proof of ownership or a leasehold estate of the time-share intervals that are part of the vacation club; and
- Satisfactory proof of compliance with this part, including, but not limited to, a public offering statement, escrow of deposits, cancellation rights, advertising and promotional offers.
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