18 Va. Admin. Code § 48-45-140

Current through Register Vol. 41, No. 6, November 4, 2024

Section 18VAC48-45-140 - Public offering statement requirements, generally

In addition to the provisions of § 55.1-2217 of the Code of Virginia, the following will be considered, as applicable, during review of the public offering statement:

1. The public offering statement shall provide full and accurate disclosure in accordance with 18VAC48-45-150.

2. The public offering statement shall pertain to the time-share program in which the time-shares are offered.

3. The public offering statement shall be clear, organized, and legible.

4. Except for brief excerpts, the public offering statement may refer to, but should not incorporate verbatim, portions of the time-share instruments, the Virginia Real Estate Time-Share Act, or this chapter. This does not preclude compliance with 18VAC48-45-170.

18 Va. Admin. Code § 48-45-140

Derived From Virginia Register Volume 32, Issue 10, eff. 3/1/2016; Amended, Virginia Register Volume 36, Issue 06, eff. 12/30/2019; Amended, Virginia Register Volume 37, Issue 03, eff. 12/1/2020.

Statutory Authority: §§ 54.1-2349 and 55.1-2247 of the Code of Virginia.