Arkansas Time-Share Act
Arkansas · Property · §§ 18-14-101 to 18-14-703 · 43 sections
Overview
The act governs the creation, sale, and administration of time-share plans, covering both time-share estates and time-share uses in real property. It requires developers to register their plans with the state real estate commission and to provide purchasers a public offering statement, and it prescribes the contents of the instruments that establish a plan, the arrangements for its management and operation, and the extent of the developer's control period. It also protects purchasers through cancellation rights, escrow and completion assurances, lien protections, and limits on advertising and unfair practices, backed by regulatory supervision, recordkeeping and examination requirements, civil remedies, and penalties.
Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.
In the courts
Sections of this act have been cited in 7 court decisions.
Most-cited authority: 347 F.3d 1076 - Kessler v. National Enterprises, Inc.
Sections covered
- Ark. Code Ann. § 18-14-101Title3 cites
- Ark. Code Ann. § 18-14-102Definitions
- Ark. Code Ann. § 18-14-103Applicability
- Ark. Code Ann. § 18-14-104Legal status of time-share estates1 cite
- Ark. Code Ann. § 18-14-105Regulatory discrimination prohibited
- Ark. Code Ann. § 18-14-201Powers and duties of the Arkansas Real Estate Commission
- Ark. Code Ann. § 18-14-202Registration required
- Ark. Code Ann. § 18-14-203Abbreviated registration — Exemptions
- Ark. Code Ann. § 18-14-204Application for registration
- Ark. Code Ann. § 18-14-205Material changes
- Ark. Code Ann. § 18-14-206Effectiveness of registration or amendment
- Ark. Code Ann. § 18-14-207Regulation and use of public offering statement
- Ark. Code Ann. § 18-14-301Time-share plans permitted
- Ark. Code Ann. § 18-14-302Contents of instruments establishing time-share estates
- Ark. Code Ann. § 18-14-303Provisions for management and operation of time-share estate plans
- Ark. Code Ann. § 18-14-304Developer control period
- Ark. Code Ann. § 18-14-305Instruments establishing time-share uses
- Ark. Code Ann. § 18-14-306Provisions for management and operation of time-share use plans
- Ark. Code Ann. § 18-14-307Partition of accommodations
- Ark. Code Ann. § 18-14-308Records
- Ark. Code Ann. § 18-14-309Supervisory authority
- Ark. Code Ann. § 18-14-310Out-of-state time-share plan
- Ark. Code Ann. § 18-14-401Penalties
- Ark. Code Ann. § 18-14-402Civil remedies
- Ark. Code Ann. § 18-14-403Statute of limitations1 cite
- Ark. Code Ann. § 18-14-404Required contents of public offering statements for time-share interests
- Ark. Code Ann. § 18-14-405Material changes
- Ark. Code Ann. § 18-14-406Other statutes not applicable
- Ark. Code Ann. § 18-14-407Escrow accounts — Other financial assurances
- Ark. Code Ann. § 18-14-408Guarantees for completion of time-share properties
- Ark. Code Ann. § 18-14-409Mutual rights of cancellation
- Ark. Code Ann. § 18-14-410Liens
- Ark. Code Ann. § 18-14-411Financial records — Examination
- Ark. Code Ann. § 18-14-501Filing of advertising materials
- Ark. Code Ann. § 18-14-502False advertising declared unlawful
- Ark. Code Ann. § 18-14-503Prohibited advertising
- Ark. Code Ann. § 18-14-504Unfair acts or practices
- Ark. Code Ann. § 18-14-505Enforcement
- Ark. Code Ann. § 18-14-601Financing of time-share plans2 cites
- Ark. Code Ann. § 18-14-602Protection of purchasers from subsequent underlying lien
- Ark. Code Ann. § 18-14-701Definition
- Ark. Code Ann. § 18-14-702Camping site — Buyer's right to cancel
- Ark. Code Ann. § 18-14-703Seller to provide notice of cancellation — Form
Enacted in other states
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