Iowa Code § 557A.8
Developer control period
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2013
As of January 1, 2012
1. The time-share instruments for a time-share estate program may provide for a period of time, known as the developer control period, during which the developer or a managing agent selected by the developer shall manage the time-share program and the units in the time-share program.
1. The time-share instruments for a time-share estate program may provide for a period of time, known as the developer control period, during which the developer or a managing agent selected by the developer shall manage the time-share program and the units in the time-share program.
2. If the time-share instruments for a time-share estate program provide for the establishment of a developer control period, they shall include, but not be limited to, provisions for the following:
2. If the time-share instruments for a time-share estate program provide for the establishment of a developer control period, they shall include, but not be limited to, provisions for the following:
a. Termination of the developer control period by action of the association.
a. Termination of the developer control period by action of the association.
b. Termination of contracts for goods and services for the time-share program entered into during the developer control periods.
b. Termination of contracts for goods and services for the time-share program entered into during the developer control periods.
c. Termination of contract for managing agent entered into during developer control period.
c. Termination of contract for managing agent entered into during developer control period.
d. 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.
d. 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.
85 Acts, ch 155, §8
85 Acts, ch 155, §8
Referred to in
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.