Md. Code Regs. 09.11.04.04

Current through Register Vol. 51, No. 24, December 2, 2024

Section 09.11.04.04 - General Regulations

A. A promise, assertion, representation, or statement of fact or opinion in connection with a time share marketing activity may not be made which is false, inaccurate, or misleading by reason of inclusion of an untrue statement of a material fact or omission of a statement of a material fact relative to the actual or intended characteristics, circumstances, or features of the time share project or time share estate.

B. There may not be indication or assertion by a developer that an improvement will be built or placed in a time share project and be made available for use by purchasers of a time share estate unless the developer has sufficient financial assets and bona fide intention to complete the improvement represented.

C. A promise, assertion, representation, or statement of fact or opinion made in connection with a time share marketing activity relating to the sale of time share estates in a project located in this State, may not, by its terms, induce, solicit, or encourage a prospective purchaser to leave Maryland for the purpose of executing a contract for sale or performing some other act which would create a legal or equitable interest in a time share estate, when to do so would circumvent the provisions of Maryland law.

D. A time share developer, real estate broker, salesman, or any other person may not advertise or represent that the Real Estate Commission has approved or recommended any time share project or estate offered for sale.

Md. Code Regs. 09.11.04.04