reglab/housing_qa huggingface dataset:
AR Code § 18-14-103 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 1 - General Provisions|§ 18-14-103. Applicability

 (a) This chapter applies to a time-share plan established after February 25, 1983, under § 18-14-201 et seq., § 18-14-401 et seq., and § 18-14-501 et seq.  (b) This chapter does not apply to the offer or sale of a time-share interest if the use extends over a period of three (3) years or less, whether or not the accommodation is located in this state.
AR Code § 18-14-104 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 1 - General Provisions|§ 18-14-104. Legal status of time-share estates

 (a)  (1) A time-share estate is an estate in real property and has the character and incidents of an estate in fee simple at common law, including an estate for years with a remainder over in fee simple or an estate for years with no remainder if a leasehold.  (2) This section supersedes any contrary rule at common law.    (b) A document transferring or encumbering a time-share estate in real property shall not be rejected for recordation because of the nature or duration of that estate or interest.  (c) For purposes of title, a time-share estate constitutes a separate estate or interest in property, except for real property tax purposes.
AR Code § 18-14-105 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 1 - General Provisions|§ 18-14-105. Regulatory discrimination prohibited

 A zoning, subdivision, or other ordinance or regulation shall not discriminate against the establishment of time-share interests or impose a requirement upon a time-share plan that it would not impose upon a similar development under a different form of ownership.
AR Code § 18-14-201 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 2 - Administration and Registration|§ 18-14-201. Powers and duties of the Arkansas Real Estate Commission

 (a) The Arkansas Real Estate Commission may:  (1) Set fees;  (2) Adopt, amend, and repeal rules;  (3) Issue orders consistent with this chapter;  (4) Prescribe forms and procedures for submitting information to the commission;  (5) Accept grants-in-aid from any governmental source;  (6) Contract with agencies charged with similar functions in this or other jurisdictions;  (7) Cooperate with agencies performing similar functions in this and other jurisdictions to develop uniform filing procedures and forms, uniform disclosure standards, and uniform administrative practices;  (8) Develop information that may be useful in the discharge of the duties of the commission;  (9) Initiate private investigations within or without this state;  (10) After notice and a hearing under this chapter and the Arkansas Administrative Procedure Act, § 25-15-201 et seq.:  (A) Issue a notice of suspension;  (B) Impose a civil penalty of no more than five thousand dollars ($5,000) per occurrence; and  (C) Assess costs against the person if:  (i) A representation in any document or information filed with the commission is false or misleading;  (ii) A developer or agent of a developer has engaged or is engaging in any unlawful act or practice;  (iii) A developer or agent of a developer has distributed, caused to be distributed, or is distributing, orally or in writing, false or misleading promotional materials concerning a time-share plan;  (iv) A developer or agent of a developer has concealed, diverted, or disposed of any funds or assets of a person in a way that impairs rights of purchasers of time-share interests in the time-share plan;  (v) A developer or agent of a developer has failed to perform a stipulation or agreement made to induce the commission to issue an order relating to that time-share plan; or  (vi) A developer or agent of a developer has otherwise violated this chapter or the rules or orders of the commission;      (11) Issue a cease and desist order if the developer has not registered the time-share plan under this chapter; and  (12) After notice and hearing, issue an order revoking the registration of a time-share plan upon a determination that a developer or agent of a developer has failed to comply with a notice of suspension issued by the commission, which order affects the time-share plan.    (b) In addition to the civil penalties under subdivision (a)(10) of this section, the commission may require the person found to have violated this chapter or the rules or orders of the commission to reimburse any compensation, fees, or other remuneration collected during the activity that resulted in the violation.
AR Code § 18-14-203 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 2 - Administration and Registration|§ 18-14-203. Abbreviated registration — Exemptions

 (a) An abbreviated registration with the Arkansas Real Estate Commission may be accepted if the developer is registered and has issued a public offering statement or similar disclosure document that is provided to purchasers under any of the following:  (1) Securities Act of 1933, 15 U.S.C. § 77a et seq.;  (2) Arkansas Securities Act, § 23-42-101 et seq.;  (3) Federal Interstate Land Sales Full Disclosure Act, 15 U.S.C. § 1701 et seq., if the time-share plan is made a part of the subdivision that is being registered; and  (4) Any federal or state act that requires a federal or state agency to review a public offering statement or similar disclosure document that must be distributed to purchasers if the commission determines that the federal or state public offering statement is substantially equivalent to that required by this chapter.    (b) Annually or when a public offering statement is amended, the public offering statement shall be submitted to the commission for recertification.  (c) An applicant filing an abbreviated registration shall pay:  (1) A filing fee not to exceed five hundred dollars ($500);  (2) Any necessary investigation expenses as stated in § 18-14-204(d); and  (3) A fee not to exceed three hundred dollars ($300) for each request for recertification under subsection (b) of this section.    (d) A registration with the commission is not required in the case of:  (1) A transfer of a time-share interest by any time-share interest owner other than the developer or its agent unless the transfer is made to evade this chapter;  (2) Any disposition under a court order;  (3) A disposition by a government or governmental agency;  (4) A disposition by foreclosure or deed in lieu of foreclosure;  (5) A developer's offer of additional time-share interests in a time-share plan located outside this state to owners that have previously purchased from the developer or a developer under common ownership or control with the developer, if the developer has had a registration or amendment approved by the commission within the preceding seven (7) years;  (6) A gratuitous transfer of a time-share interest;  (7) A time-share property that consists of a single accommodation and related amenities for which the developer or a person under the control of, a subsidiary of, or affiliate of the developer operates as the acquisition agent, broker, or exchange agent; or  (8) A disposition of a time-share interest owned by an owners' association of which the time-share interest is a part.
AR Code § 18-14-204 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 2 - Administration and Registration|§ 18-14-204. Application for registration

 (a) An application for registration of a time-share plan shall contain:  (1) The public offering statement;  (2) A brief description of the time-share property;  (3) Copies of time-share instruments;  (4) Financial statements prepared according to generally accepted accounting principles and fully and fairly disclosing the current financial condition of the developer;  (5) Any other documents referred to in the registration application; and  (6) Other information as required by the Arkansas Real Estate Commission.    (b)  (1) If the accommodation in the time-share plan is in a condominium development or other common-interest subdivision, the application for registration shall contain evidence that the use of the accommodation for time-share purposes is not prohibited by the project instruments.  (2) If the project instruments do not expressly authorize time-sharing, the application for registration shall contain evidence that purchasers in the condominium development or other common-interest subdivision were given written notice at least sixty (60) days before the application for registration was submitted that the accommodation would be used for time-share purposes.  (3) If the project instruments contain a prohibition against time-sharing, the board of directors of the association shall certify that the amendment procedures in the project instruments were followed and that the project instruments have been amended to permit time-sharing.    (c) The application shall be accompanied by a filing fee not to exceed one thousand dollars ($1,000).  (d)  (1) The commission shall thoroughly investigate matters relating to the application and may require a personal inspection of the time-share property by a person designated by it.  (2) All direct expenses incurred by the commission in inspecting the time-share property are paid by the applicant, and the commission may require a deposit sufficient to cover the direct expenses before incurring them.    (e) An application for registration shall be renewed, annually, and the renewal filing fee shall not exceed five hundred dollars ($500).
AR Code § 18-14-205 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 2 - Administration and Registration|§ 18-14-205. Material changes

 (a) A developer shall amend or supplement its registration to report a material change in the information required by § 18-14-204.  (b)  (1) If there is a material change in a registration document, the developer shall file an amendment with the Arkansas Real Estate Commission to report the material change no later than forty-five (45) days after the developer knows or reasonably should have known of the change.  (2) The developer may continue to offer and dispose of time-share interests under the existing registration pending review of the amendments by the commission if the developer discloses the material change to prospective purchasers.  (3) The commission may charge a fee not to exceed three hundred dollars ($300) to process an amendment.
AR Code § 18-14-206 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 2 - Administration and Registration|§ 18-14-206. Effectiveness of registration or amendment

 (a)  (1) Except as otherwise provided, the effective date of the registration or any amendment is forty-five (45) days after its filing or such earlier date as the Arkansas Real Estate Commission may determine, having regard for the public interest and the protection of purchasers.  (2) If an amendment to a registration is filed before the effective date, the registration is considered to have been filed when the amendment was filed.    (b)  (1) If it appears to the commission that the application for registration or an amendment to the registration is on its face incomplete or inaccurate in any material respect, the commission shall so advise the developer by listing each deficiency in writing before the date the registration would otherwise be effective.  (2) The notification of the deficiency serves to suspend the effective date of the filing until ten (10) days after the developer files the additional information as required by the commission.  (3)  (A) Any developer, upon receipt of the notice of deficiencies, may request a hearing.  (B) The hearing shall be held within thirty (30) days of receipt of the request.
AR Code § 18-14-207 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 2 - Administration and Registration|§ 18-14-207. Regulation and use of public offering statement

 (a)  (1) The Arkansas Real Estate Commission may require a developer to alter or supplement the form or substance of a public offering statement to assure adequate and accurate disclosure to prospective purchasers.  (2) The commission may require that certain disclosures contained in the public offering statement be in boldface type to protect the purchaser.    (b)  (1) The public offering statement shall not be used for promotional purposes before registration and may be used afterwards only in its entirety.  (2) A person shall not advertise that the commission has approved or recommended the time-share plan, the disclosure statement, or any of the documents contained in the application for registration.
AR Code § 18-14-301 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 3 - Creation, Termination, and Management|§ 18-14-301. Time-share plans permitted

 A time-share plan may be established in any accommodation unless expressly prohibited by the project instruments.
AR Code § 18-14-302 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 3 - Creation, Termination, and Management|§ 18-14-302. Contents of instruments establishing time-share estates

 A project and time-share instrument that establishes a time-share estate located or offered in this state shall contain:   (1) The name of the county in which the property is situated;  (2) The legal description, street address, or other description sufficient to identify the property;  (3) Identification of time periods by letter, name, number, or combination thereof;  (4) Identification of time-share estates and, when applicable, the method by which additional time-share estates may be established;  (5) The formula, fraction, or percentage of the common expenses and any voting rights assigned to each time-share estate and, when applicable, to each accommodation in a project that is not subject to the time-share plan;  (6) Restrictions on the use, occupancy, alteration, or alienation of time-share interests;  (7) The ownership interest, if any, in personal property and for care and replacement;  (8) Any other matters the developer considers appropriate; and  (9)  (A) Provisions concerning the establishment of a lien against an owner's time-share interest in favor of the association of time-share estate owners to secure payment of common expenses.  (B) This lien when provided for in the time-share instrument is enforceable and foreclosable in the way other statutory liens are enforceable and foreclosable under the laws of this state.
AR Code § 18-14-303 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 3 - Creation, Termination, and Management|§ 18-14-303. Provisions for management and operation of time-share estate plans

 The time-share instruments for a time-share estate plan offered in this state shall prescribe reasonable arrangements for management and operation of the time-share plan or time-share property and for the maintenance, repair, and furnishing of accommodations including:   (1) Establishment of an association of time-share estate owners;  (2) Adoption of bylaws for organizing and operating the association;  (3) Payment of costs and expenses of operating the time-share plan or time-share property and owning and maintaining the accommodations;  (4) Employment and termination of employment of the managing agent for the association;  (5) Preparation and dissemination to owners of information concerning the time-share plan or property, including:  (A) An annual budget;  (B) Operating statements; and  (C) Other financial information;    (6) Procedures for establishing the rights of owners for the use of accommodations by prearrangement or under a first-reserved, first-served system;  (7) Adoption of standards and rules of conduct for the use and occupancy of accommodations by owners;  (8) Collection of assessments from owners to defray the expenses of management of the time-share plan or time-share property and maintenance of the accommodation and amenities of the time-share plan or time-share property;  (9) Comprehensive general liability insurance for death, bodily injury, and property damage arising out of, or in connection with, the use of the accommodations by owners, their guests, and other users;  (10) Methods for providing compensating use periods or monetary compensation to an owner if an accommodation cannot be made available for the period to which the owner is entitled by schedule or by confirmed reservation; and  (11)  (A) Procedures for imposing a monetary penalty or suspension of an owner's rights and privileges in the time-share plan for failure of the owner to comply with the time-share instruments or the rules of the association concerning the use of the accommodations and amenities.  (B) Under these procedures an owner shall be given notice and the opportunity to refute or explain the charges against him or her in person or in writing to the governing body of the association before a decision to impose discipline is rendered.  (C) A monetary penalty may be secured by the lien in § 18-14-302.
AR Code § 18-14-304 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 3 - Creation, Termination, and Management|§ 18-14-304. Developer control period

 (a) The time-share instruments for a time-share estate plan may provide for a length of time, known as the “developer control period”, during which the developer, or a managing agent selected by the developer, may manage the time-share plan and the accommodations in the time-share plan.  (b) If the time-share instruments for a time-share estate plan provide for the establishment of a developer control period, the procedure shall ordinarily include:  (1) Termination of the developer control period by action of the association or by operation of the time-share instruments;  (2) Termination of contracts for goods and services for the time-share plan or for accommodations in the time-share plan during the developer control period; and  (3) A regular accounting by the developer to the association concerning matters that significantly affect the interests of owners in the time-share plan.
AR Code § 18-14-305 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 3 - Creation, Termination, and Management|§ 18-14-305. Instruments establishing time-share uses

 A project instrument or time-share instrument that establishes time-share uses containing accommodations located or offered in this state shall contain:   (1) Identification by name of the time-share plan and street address where the time-share plan is situated;  (2) Identification of the time periods, type of accommodations, the accommodations that are in the time-share plan and the length of time that the accommodations are committed to the time-share plan;  (3) In case of a time-share plan, identification of which accommodations are in the time-share plan and the method for adding, deleting, or substituting other accommodations; and  (4) Any other matters that the developer considers appropriate.
AR Code § 18-14-306 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 3 - Creation, Termination, and Management|§ 18-14-306. Provisions for management and operation of time-share use plans

 The time-share instruments for a time-share use plan containing accommodations offered in this state shall prescribe reasonable arrangements for the management and operation of the time-share plan and for the maintenance, repair, and furnishing of accommodations including:   (1) Standards and procedures for upkeep, repair, and interior furnishing of accommodations and for maid, cleaning, linen, and similar services to the accommodations during use periods;  (2) Adoption of standards and rules of conduct governing the use and occupancy of accommodations by owners;  (3) Payment of the costs and expenses of operating the time-share plan and owning and maintaining the accommodations;  (4) Selection of a managing agent;  (5) Preparation and dissemination to owners of an annual budget, operating statements, and other financial information concerning the time-share plan or time-share property;  (6) Procedures for establishing the rights of owners to the use of accommodations by prearrangement or under a first-reserved, first-served priority system;  (7) Organization of a management advisory board consisting of time-share use owners, including an enumeration of rights and responsibilities of the board;  (8) Procedures for imposing and collecting assessments or use fees from time-share use owners as necessary to defray costs of management of the time-share plan and providing materials and services to the accommodations;  (9) Comprehensive general liability insurance for death, bodily injury, and property damage arising out of, or in connection with, the use of accommodations by time-share use owners, their guests, and other users;  (10) Methods for providing compensating use periods or monetary compensation to an owner if an accommodation cannot be made available for the period to which the owner is entitled by schedule or by a confirmed reservation; and  (11)  (A) Procedures for imposing a monetary penalty or suspension of an owner's rights and privileges in the time-share plan for failure of the owner to comply with the time-share instruments or the rules established by the developer concerning the use of the accommodations.  (B) The owner shall be given notice and the opportunity to refute or explain the charges, in person or in writing, to the management advisory board before a decision to impose discipline is rendered.
AR Code § 18-14-307 (2020)
2020 Arkansas Code|Title 18 - Property|Subtitle 2 - Real Property|Chapter 14 - Arkansas Time-Share Act|Subchapter 3 - Creation, Termination, and Management|§ 18-14-307. Partition of accommodations

 An action for partition of an accommodation shall not be maintained unless permitted by the time-share instrument.