reglab/housing_qa huggingface dataset:
AR Code § 18-14-308 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 3 - Creation, Termination, and Management|§ 18-14-308. Records

 (a) The association or managing agent shall maintain among its records a list of the names and post office addresses of the owners of time-share interests in the time-share plan.  (b) The list shall:  (1) Be updated every six (6) months; and  (2) Not be published or provided to owners or a third person to use or sell the list for commercial purposes.    (c)  (1) If an owner of a time-share interest in the time-share plan provides a written request to the association to communicate with its membership, the association shall determine within thirty (30) days of the date of the request whether the communication advances legitimate association business and if so, provide a method to grant the request without disclosing the association membership list to the requesting owner.  (2)  (A) The association shall notify the requesting owner of the costs to make the communication before the communication is made to the owners.  (B) The requesting owner shall pay the costs to the association before the association makes the communication.    (3) An alternative method that accomplishes the original purpose of the request made under subdivision (c)(1) of this section is a reasonable alternative.  (4)  (A) If the association determines that a communication does not advance legitimate association business, the association shall notify the requesting owner in writing within thirty (30) days of the reasons for the rejection.  (B) An owner that is denied a request for information under subdivision (c)(4)(A) of this section may appeal the denial to the court in whose jurisdiction the association lies.  (C) If the court determines that the communication does advance legitimate association business, the court may order the association to pay the requesting owner's costs, including attorney's fees reasonably incurred to enforce the requesting owner's rights.
AR Code § 18-14-309 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 3 - Creation, Termination, and Management|§ 18-14-309. Supervisory authority

 (a) Notwithstanding the obligations imposed on other persons by this chapter, the developer shall supervise, manage, and control the aspects of the offering of a time-share plan, including the promotion, advertising, contracting, and closing.  (b) A violation of this section during the offering is a violation by the developer and the person that committed the violation.
AR Code § 18-14-310 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 3 - Creation, Termination, and Management|§ 18-14-310. Out-of-state time-share plan

 (a) A single site time-share plan and component sites of a multisite time-share plan that are located outside the state are to be established and governed by the applicable laws of the state in which the time-share property or component site is located.  (b) If there is a conflict between the affirmative standards stated in the laws of the state or jurisdiction that governs an out-of-state time-share plan and this subchapter, the law of the state or jurisdiction in which the time-share property is located controls.  (c) If the association and the time-share instruments provide for the matters contained in §§ 18-14-302 — 18-14-306, as applicable, the developer or association is considered to be in compliance with these sections and is not required to revise the time-share instruments to comply with this subchapter.
AR Code § 18-14-401 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 4 - Protection of Purchasers|§ 18-14-401. Penalties

 A developer or any other person subject to this chapter that offers or disposes of a time-share interest without complying with this chapter or that violates this chapter is guilty of a misdemeanor punishable by a fine not to exceed five thousand dollars ($5,000) per occurrence or by imprisonment not to exceed one (1) year, or both.
AR Code § 18-14-402 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 4 - Protection of Purchasers|§ 18-14-402. Civil remedies

 (a)  (1) If a developer or any other person subject to this chapter violates this chapter or a project instrument, a person or class of persons adversely affected by the violation has a claim for appropriate relief.  (2) Punitive damages or attorney's fees, or both, may be awarded for willful violation of this chapter.    (b) Section 17-42-401 et seq. does not apply to any claims arising from or damages caused by a violation of this chapter, the Real Estate License Law, § 17-42-101 et seq., or rules by a licensee while engaged in a time-share activity.
AR Code § 18-14-403 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 4 - Protection of Purchasers|§ 18-14-403. Statute of limitations

 (a) A judicial proceeding in which the accuracy of the public offering statement or validity of a contract of purchase is in issue and a rescission of the contract or damages is sought shall be commenced not later than four (4) years after the date of the contract of purchase, notwithstanding that the purchaser's terms of payment may extend beyond the period of limitation.  (b) If the enforcement of provisions in the contract of purchase requires the continued furnishing of services and the reciprocal payments to be made by the purchaser, the period of bringing a judicial proceeding will continue for a period of four (4) years for each breach, but the parties may agree to reduce the period of limitation to not less than two (2) years.
AR Code § 18-14-405 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 4 - Protection of Purchasers|§ 18-14-405. Material changes

 (a) The developer shall amend or supplement the public offering statement to report any material change in the information required by § 18-14-404.  (b) The developer shall use the written materials that are supplied to it by an exchange program for distribution to the time-share interest owners as the materials are received.
AR Code § 18-14-406 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 4 - Protection of Purchasers|§ 18-14-406. Other statutes not applicable

 (a) A time-share plan in which a public offering statement is prepared under this chapter does not require registration under any of the following:  (1) Arkansas Securities Act, § 23-42-101 et seq.; or  (2) Any other Arkansas statute that requires a public offering statement or substantially similar document for distribution to purchasers.    (b)  (1) A time-share plan that fails to restrict the price at which an owner may sell or exchange his or her time-share interest does not by that failure cause the time-share interest to become a security under the Arkansas Securities Act, § 23-42-101 et seq.  (2) An exchange agent offering a time-share interest for exchange is not considered to be offering a security under the Arkansas Securities Act, § 23-42-101 et seq.
AR Code § 18-14-407 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 4 - Protection of Purchasers|§ 18-14-407. Escrow accounts — Other financial assurances

 (a) Any deposit made with the purchase or reservation of a time-share interest from a developer shall be placed in a noninterest-bearing escrow account and held in this state, or other jurisdiction that is acceptable to the Arkansas Real Estate Commission, in a designated account by an independent bonded escrow company or in an institution whose accounts are insured by a governmental agency or instrumentality until:  (1) Delivered to the developer at the end of the time for rescission or a later time specified in a contract or sale;  (2) Delivered to the developer because of the purchaser's default under a contract to purchase the time-share interest; or  (3) Refunded to the purchaser.    (b)  (1) In lieu of any escrows required by this section, the commission has the discretion to accept other financial assurances, including a surety bond, or a cash deposit in an amount equal to the escrow requirements of this section.  (2) Interest earned on a surety bond or other deposit while deposited with, or for the benefit of, the commission becomes the property of the commission and is deposited into the Real Estate Recovery Fund in § 17-42-403.
AR Code § 18-14-409 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 4 - Protection of Purchasers|§ 18-14-409. Mutual rights of cancellation

 (a)  (1) Before transfer of a time-share interest and no later than the date of the sales contract, the developer shall provide the intended purchaser with a copy of the public offering statement and any amendments and supplements to the statement.  (2) The contract is voidable by the purchaser until he or she has received the public offering statement.  (3) The contract is voidable by the purchaser for five (5) days after execution of the contract of sale.  (4) Cancellation is without penalty, and all payments made by the purchaser before cancellation shall be refunded within a reasonable time after receipt of the notice of cancellation under subsection (c) of this section.    (b) Up to five (5) days after execution of the contract of sale, the developer may cancel the contract of purchase without penalty to either party and shall return all payments made within a reasonable time.  (c) If either party elects to cancel a contract under subsection (a) or subsection (b) of this section, he or she may do so by hand-delivering the notice to the other party or by mailing the notice by regular mail to the other party or to his or her agent for service of process, which notice is considered given when deposited in the mail.
AR Code § 18-14-410 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 4 - Protection of Purchasers|§ 18-14-410. Liens

 (a)  (1) Before a transfer of a time-share interest, the developer shall record or furnish to the purchaser releases of all liens affecting that time-share interest or shall provide a surety bond or other insurance against the lien from a company acceptable to the Arkansas Real Estate Commission; or  (2) An underlying lien shall contain a provision in which the lienholder subordinates its rights to that of a time-share purchaser who fully complies with the contract of sale.    (b)  (1) If a lien other than a mortgage or deed of trust becomes effective against more than one (1) time-share interest in a time-share property, a time-share interest owner may get a release of his or her time-share interest from the lien upon payment of the amount of the lien attributable to his or her time-share interest unless a time-share interest owner or his or her predecessor in title agrees otherwise with the lienor.  (2) The payment shall be proportionate to the ratio that the time-share interest owner's liability bears to the liabilities of all time-share interest owners whose interests are subject to the lien.  (3) Upon receipt of payment, the lienholder shall promptly deliver to the time-share interest owner a release of the lien covering that time-share interest.  (4) After payment, the managing entity shall not assess or have a lien against that time-share interest for any part of the expenses incurred with that lien.
AR Code § 18-14-411 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 4 - Protection of Purchasers|§ 18-14-411. Financial records — Examination

 (a) The person or entity responsible for making or collecting common expense assessments or maintenance assessments shall keep detailed financial records.  (b) All financial and other records shall be made reasonably available for examination by any time-share interest owner and his or her authorized agents.
AR Code § 18-14-501 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 5 - Advertising|§ 18-14-501. Filing of advertising materials

 (a) All advertising materials proposed for use or used in this state by a person with the offer or sale of a time-share property are subject to the review of the Arkansas Real Estate Commission upon its request.  (b) Advertising materials include:  (1) Promotional brochures, pamphlets, advertisements, or other materials to be distributed to the public concerning the sale of time-shares;  (2) Transcripts of all radio and television advertisements;  (3) Offers of travel, accommodations, meals, or entertainment at no cost or reduced cost;  (4) Direct mail solicitation;  (5) Advertising, including testimonials or endorsements;  (6) Scripts or standardized narrative for use in making telephone solicitations; and  (7) Websites or other electronic media.
AR Code § 18-14-502 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 5 - Advertising|§ 18-14-502. False advertising declared unlawful

 (a) It is unlawful for a person with intent, directly or indirectly, to offer for sale or sell time-shares in this state or to authorize, use, direct, or aid in the publication, distribution, or circulation of an advertisement, radio broadcast, telecast, or other electronic media concerning the time-share plan in which the time-share properties are offered that contains a statement, pictorial representation, or sketch that is false or misleading.  (b) This section does not hold the publisher or employee of a newspaper, a job printer, a broadcaster or telecaster, or a magazine publisher, or an employee thereof, liable for the publication referred to in this section unless the publisher, employee, or printer has actual knowledge of its falsity or has an interest as an owner or agent in the time-share plan advertised.
AR Code § 18-14-503 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 5 - Advertising|§ 18-14-503. Prohibited advertising

 An advertisement for the offer or sale of time-shares shall not:   (1) Contain a representation concerning the availability of a resale program or rental program offered by or on behalf of the developer or its affiliate unless the resale program or rental program has been made a part of the offering and submitted to the Arkansas Real Estate Commission;  (2) Contain an offer or inducement to purchase that limits the quantity or time of availability, unless the numerical quantity or time applicable to the offer or inducement is clearly and conspicuously disclosed;  (3) Contain a statement concerning the investment merit or profit potential of the time-share, unless the commission has determined that the representation is neither false nor misleading;  (4) Make a prediction of or imply specific or immediate increases in the price or value of the time-share property, nor shall a price increase of a time-share property be promoted unless the developer has authorized and announced the price increase;  (5) Contain statements concerning the availability of time-share interests at a particular minimum price if the number of time-share interests available at that price comprises less than ten percent (10%) of the unsold inventory of the developer, unless the number of time-share interests then for sale at the minimum price is stated in the advertisement;  (6) Contain a statement that the time-share interest being offered for sale can be further divided, unless a full disclosure is included concerning the legal requirements for further division of the time-share interest;  (7) Contain an asterisk or other reference symbol as a means of contradicting or changing the ordinary meaning of a previously made statement in the advertisement;  (8) Misrepresent the size, nature, extent, qualities, or characteristics of the accommodations or facilities that comprise the time-share plan;  (9) Misrepresent the nature or extent of a service incident to the time-share project;  (10) Misrepresent or imply that a facility or service is available for the exclusive use of purchasers or owners if a public right of access or of use of the facility or service exists;  (11) Make a misleading or deceptive representation concerning the contents of the time-share permit, the purchase contract, the purchaser's rights, privileges, benefits, or obligations under the purchase contract or this chapter;  (12) Misrepresent the conditions under which a purchaser or owner may participate in an exchange program; or  (13) Describe a proposed or unfinished private facility over which the developer has no control, unless the estimated date of completion is stated and evidence has been presented to the commission that the completion and operation of the facilities are reasonably assured within the time represented in the advertisement.
AR Code § 18-14-504 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 5 - Advertising|§ 18-14-504. Unfair acts or practices

 (a) It is unlawful for a person to offer by mail, telephone, electronic media, or in person a prize or gift, with the intent to offer a sales presentation for a time-share plan, without also disclosing in a clear and unequivocal way that there will be a sales presentation when making the offer of the prize or gift.  (b) The following unfair acts or practices undertaken by, or omissions of, a person in the operation of a prize or gift promotional offer for a time-share plan are prohibited:  (1) Failing to clearly and conspicuously disclose the rules, terms, and conditions of the promotional program, a description of the prizes offered, if any, and the date that the prize or gift offer will terminate or expire;  (2)  (A) Failing to disclose the retail value of the gift or prize and the odds of winning.  (B) The person making the offer shall maintain a sufficient inventory of the gift or prize to be able to equal the reasonable response to the offer;    (3) Failing to obtain the express written or oral consent of individuals before their names are used for a promotional purpose with a mailing to a third person;  (4)  (A) Failing to award and distribute at least one (1) of each prize or gift of the value and type represented in the promotional program by the day and year specified in the promotion.  (B) If a promotion promises the award of a prescribed number of each prize, this number of prizes shall be awarded by the date and year specified in the promotion; or    (5) Misrepresenting in any way the odds of receiving a prize or gifts or the rules, terms, or conditions of participation in the promotional program.
AR Code § 18-14-505 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 5 - Advertising|§ 18-14-505. Enforcement

 If the Arkansas Real Estate Commission determines that a person is violating or failing to comply with the requirements of this subchapter, the commission may order the person to cease and desist from the violations and may take enforcement action under § 18-14-201 et seq.
AR Code § 18-14-601 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 6 - Financing|§ 18-14-601. Financing of time-share plans

 (a) In the financing of a time-share plan, the developer and its successors in interest shall retain financial records of the schedule of payments required to be made and the payments made to a person or entity that is the lienholder of an underlying blanket mortgage, deed of trust, contract of sale, or other lien or encumbrance.  (b) Any transfer of the developer's interest in the time-share plan to a third person is subject to the obligations of the developer to the extent the obligations were originally established in written documents recorded in the real estate records and not existing solely from the offering of materials or filings with a governmental authority.
AR Code § 18-14-602 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 6 - Financing|§ 18-14-602. Protection of purchasers from subsequent underlying lien

 The developer whose project is subjected to an underlying blanket lien or encumbrance subsequent to the transfer of a time-share interest shall protect nondefaulting purchasers from foreclosure by:   (1) Obtaining from the lienholder a nondisturbance clause, subordination agreement, or partial release of the lien for those time-share interests sold; or  (2) Providing a surety bond or insurance against the lien from a company acceptable to the Arkansas Real Estate Commission.
AR Code § 18-14-701 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 7 - Camping Sites|§ 18-14-701. Definition

 As used in this subchapter, “time-share plan” shall have the same meaning as used in § 18-14-102.
AR Code § 18-14-702 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 7 - Camping Sites|§ 18-14-702. Camping site — Buyer's right to cancel

 (a) In addition to any other right to revoke an offer, the buyer has the absolute right to cancel a contract or offer for the purchase of a camping site under a time-share plan until midnight of the fifth calendar day after the day that the buyer signs an agreement, excluding Sundays and the holidays under § 1-5-101.  (b) Cancellation occurs if the buyer returns to the seller the notice of cancellation provided by the seller.  (c) The notice of cancellation may be sent by registered mail.
AR Code § 18-14-703 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 7 - Camping Sites|§ 18-14-703. Seller to provide notice of cancellation — Form

 (a) The seller of a camping site under a time-share plan shall furnish to the buyer at the time the buyer signs the sales contract or otherwise agrees to buy the camping site a complete form in duplicate captioned “NOTICE OF CANCELLATION”, which is attached to the contract or receipt, is easily detachable, and contains in 10-point bold-face type, the following information and statements:  (b) If seller fails to give both oral and written notice of the buyer's right to cancellation, the cooling-off period does not begin to run until actual notice is given.    “NOTICE OF CANCELLATION Enter date of transaction You are entitled to cancel the agreement or offer at any time before midnight of the fifth day, excluding Sundays and holidays, after the day you signed the agreement or offer. If you cancel, the seller must return to you (1) any payments made; (2) any goods or other property (or a sum equal to the amount of the trade-in allowance given therefore); and (3) any note or other evidence of indebtedness, given by you to the seller under or with the agreement or offer. TO CANCEL THIS TRANSACTION, MAIL OR DELIVER A SIGNED AND DATED COPY OF THIS CANCELLATION NOTICE OR ANY OTHER WRITTEN NOTICE TO (Name of seller) (Address of seller's place of business) NOT LATER THAN MIDNIGHT OF (Date) I HEREBY CANCEL THIS TRANSACTION (Date) (Buyer's signature)”.   Click to view form.