2012 Utah Code
Title 57 - Real Estate
Article 19 - Timeshare and Camp Resort Act
Section 26 - Exemptions.

(1) Unless entered into for the purpose of evading the provisions of this chapter, the following transactions are exempt from registration:

(a) isolated transactions by an owner of an interest in a project or by a person holding such an owner's executed power of attorney;

(b) an offer or sale by a governmental entity; and

(c) the resale of an interest that is:

(i) acquired:

(A) by the developer who initially registered the project or by the managing association of the project; and

(B) through a foreclosure, quitclaim deed, deed in lieu of foreclosure, or equivalent transfer;

(ii) not offered as part of a project that includes one or more interests that are unregistered or have been registered by a different developer or as part of a different project; and

(iii) closed after the developer or managing association provides a purchaser the disclosures required by Section 57-19-11 and the right to rescind required by Section 57-19-12.

(2) After a resale by a developer or managing association that is claimed to be exempt under Subsection (1)(c), the division retains jurisdiction to:

(a) investigate a complaint regarding the resale; and

(b) if applicable, take an administrative action against the developer or managing association on the basis of unprofessional conduct, as provided in Section 57-19-13.

(3) (a) The director may, by rule or order, exempt any person from any or all requirements of this chapter if the director finds that the offering of an interest in a project is essentially noncommercial.

(b) The offering of one or more interests in a project that has a maximum of 10 interests is considered essentially noncommercial.

Amended by Chapter 166, 2012 General Session