reglab/housing_qa huggingface dataset:
AL Code § 34-27-57 (2021)
2021 Code of Alabama|Title 34 - Professions and Businesses.|Chapter 27 - Real Estate Brokers.|Article 3 - Vacation Time-Sharing Plans.|Section 34-27-57 - Acts Constituting Violation of Article - Sell, etc., Interest in Plan to Third Person That Substantially Affects Rights of Other Owners.

Section 34-27-57Acts constituting violation of article - Sell, etc., interest in plan to third person that substantially affects rights of other owners. (a) It shall be a violation of this article for any seller of vacation time-sharing plans to sell, lease, assign, or otherwise transfer the seller's interest in the vacation time-sharing plan or the accommodations or facilities to a third party when such a sale, lease, assignment, or other transfer substantially affects the rights of other owners or lessees of the time-share units, unless: (1) The third party agrees in writing to: a. Fully honor the rights of purchasers of the vacation time-sharing plan to occupy and use the accommodations or facilities; and b. Fully honor rights of purchasers of the vacation time-sharing plan to cancel their contracts and receive an appropriate refund as provided in this article; and c. Comply with the provisions of this article for as long as the third party continues to sell the vacation time-sharing plan, or for as long as purchasers of the vacation time-sharing plan are entitled to occupy the accommodations or use the facilities, whichever is longer in time; and (2) The commission receives prior written notice of the intent to transfer the seller's interest; and (3) Written notice is given to each purchaser of a vacation time-sharing plan affected thereby, by certified mail within 30 days of the transfer. (b) The commission shall reserve the right to demand such additional information regarding the transfer as is reasonably necessary to determine to what extent the rights of other owners of units or unit weeks within the subject time-sharing plan shall be affected and to determine whether the registration of the plan should continue, should be amended, or should be suspended or revoked. (c) The provisions of this section shall not be construed to apply to the sale of a single unit or to prevent the seller's right to sell, discount, or hypothecate for value receivables in favor of any bank, mortgage company, or other lending institution and such transactions shall be exempt from the requirements of the section. (Acts 1983, No. 83-670, p. 1035, §8; Acts 1985, No. 85-750, p. 1204, §1.)
AL Code § 34-27-59 (2021)
2021 Code of Alabama|Title 34 - Professions and Businesses.|Chapter 27 - Real Estate Brokers.|Article 3 - Vacation Time-Sharing Plans.|Section 34-27-59 - Acts Constituting Violation of Article - Failure to Disclose Total Financial Obligation, etc., in Contract.

Section 34-27-59Acts constituting violation of article - Failure to disclose total financial obligation, etc., in contract. It shall be a violation of this section for any seller of vacation time-sharing plans to fail to fully disclose in the contract in boldface type of a size no smaller than any other type used in the body of the contract to purchaser: (1) The total financial obligation of the purchaser, which shall include the initial purchase price and any additional charges to which the purchaser may be subject. (2) Any individual or business entity which has or may have the right to alter, amend, or add to charges to which the purchaser may be subject and the terms and conditions under which such charges may be imposed. (3) The nature and duration of each agreement between the business offering the vacation time-sharing plans for sale and the individual or business entity managing the accommodations or other facilities. (4) In immediate proximity to the space reserved in the contract for the signature of the buyer and in boldface type of the same size as required by subdivision (3) of Section 34-27-53 a statement as follows: "No purchaser should rely upon representations other than those included in the contract." However, inclusion of this statement shall not impair the purchaser's right to bring any legal action based upon any cause of action arising from oral statements. (5) The date of availability of each amenity of the offered accommodations and facilities when they are not completed at the time of sale of such plan. (6) The specific term of the contract. (Acts 1983, No. 83-670, p. 1035, §10.)
AL Code § 34-27-61 (2021)
2021 Code of Alabama|Title 34 - Professions and Businesses.|Chapter 27 - Real Estate Brokers.|Article 3 - Vacation Time-Sharing Plans.|Section 34-27-61 - Hearing; Refusal, Suspension, or Revocation of License; Willful Violation Defined; Escrow Deficiency.

Section 34-27-61Hearing; refusal, suspension, or revocation of license; willful violation defined; escrow deficiency. The commission may upon its own motion, or upon the verified complaint in writing of any person, hold a hearing regarding an alleged violation by any person or business entity of this article. Any person found guilty of having violated any provision of this article or any rule, regulation, or order of the commission shall be subject to the refusal of a license, if not licensed; or, if licensed, to the suspension or revocation of such license and/or a monetary penalty of not less than $25 nor more than $1,000. Such hearing shall be held in a manner prescribed by the Alabama Real Estate License Law and the rules and regulations of the Alabama Real Estate Commission. The reinstatement of a license suspended or revoked as a result of a violation under this article may be made conditional upon the fulfillment of such reasonable conditions as are imposed by the commission. The penalties and procedures outlined in this section shall not be construed to supersede or conflict with penalties and procedures outlined in other sections of this article. Provided, that a deficiency in an escrow account required by this article, which results solely from the cancellation or worthlessness of receivables previously placed in escrow, shall not be considered a violation of this article. In the event of an escrow deficiency, a lender who has advanced funds to a project shall have no liability to contribute funds to the escrow to cure the deficiency, and the lender's lien on the property shall not be affected by the deficiency. (Acts 1983, No. 83-670, p. 1035, §12; Acts 1985, No. 85-750, p. 1204, §1.)
AL Code § 34-27-62 (2021)
2021 Code of Alabama|Title 34 - Professions and Businesses.|Chapter 27 - Real Estate Brokers.|Article 3 - Vacation Time-Sharing Plans.|Section 34-27-62 - Enforcement and Implementation of Article; Acts Constituting Misdemeanors; Voidability of Sales of Unregistered Plans, Etc.

Section 34-27-62Enforcement and implementation of article; acts constituting misdemeanors; voidability of sales of unregistered plans, etc. (a) The Alabama Real Estate Commission shall be responsible for the enforcement and implementation of this article, and the Attorney General of the State of Alabama, or the district attorney of any county of the State of Alabama upon request by the commission, shall assist the commission in the enforcement of this article and the prosecution of violations hereunder. The provisions of this article shall not be construed to limit in any manner the right of any party to bring a private action to enforce the provisions of this article. In addition to the administrative enforcement of this article by the commission, the following shall be Class A misdemeanors triable in the courts of Alabama: (1) It shall be a Class A misdemeanor for any person, natural or legal, while within the borders of the State of Alabama, to participate in the sale or attempted sale of any time-share plan unless licensed to do so by the commission or exempted from such licensure by the laws of the State of Alabama or the United States, regardless of whether the vacation time-sharing plan is itself located within the State of Alabama. (2) It shall be a Class A misdemeanor for any person, natural or legal, to or attempt to, sell, lease, or otherwise market any interest in any vacation time-sharing plan not registered with the commission as a vacation time-sharing plan or exempted from such registration by the laws of the State of Alabama or the United States, regardless of whether the vacation time-sharing plan is itself located within the State of Alabama. (b) Any time-sharing sale made in Alabama between a time-share purchaser and a seller for the purchase or lease of a time-share week or weeks in a vacation time-share plan which is not registered with the commission, or whose registration is under suspension, or which is under an order from the commission to cease and desist from sales, shall be voidable by the purchaser. An action to void such a transaction must be brought by the purchaser within three years of the date of the making of the lease or sales agreement. In any such action, the prevailing party may be awarded reasonable attorney fees as determined by the court. (Acts 1983, No. 83-670, p. 1035, §13; Acts 1985, No. 85-750, p. 1204, §1.)
AL Code § 34-27-63 (2021)
2021 Code of Alabama|Title 34 - Professions and Businesses.|Chapter 27 - Real Estate Brokers.|Article 3 - Vacation Time-Sharing Plans.|Section 34-27-63 - Filing of Plan Relating to Units Not Substantially Completed Requires Filing of Additional Documents.

Section 34-27-63Filing of plan relating to units not substantially completed requires filing of additional documents. If a seller files with the commission any vacation time-sharing plan or any amendment thereto which describes or concerns time-sharing units, accommodations, or facilities not substantially completed, the seller shall file with the commission the following: (1) A notarized statement showing all costs involved in completing each phase of the project. (2) A notarized statement of the time of completion of construction of each phase of the project. (3) Satisfactory evidence of sufficient funds to cover all costs to complete the project. (4) A copy of the executed construction contract and any other contracts for the completion of the project. (5) A 100 percent payment performance bond payable to the State of Alabama from a surety company authorized to do business in Alabama, covering the entire cost of construction necessary to complete the project. (6) If purchasers' funds are to be used in the construction of the project, an executed copy of the escrow agreement with an escrow company or financial institution authorized to do business with the state, which provides that: a. Disbursements of purchasers' funds may be made from time to time to pay for construction of the project; architectural, engineering, finance, and legal fees; and other costs for the completion of the project in proportion to the value of the work completed by the contractor as certified by a registered surveyor, architect, or engineer on bills submitted and approved by the lender of construction funds or the escrow agent; b. Disbursements of the balance of purchasers' funds remaining after completion of the project may be made only after either the escrow agent or lender receives satisfactory evidence that the period for filing mechanics' and materialmen's liens has expired, or the right to claim those liens has been waived or other adequate provision has been made for satisfaction of any claimed mechanics' or materialmen's lien; and c. Any other restrictions relative to the retention and disbursement of purchasers' funds required under the rules of the commission have been met; and d. Any other materials or information required under the rules of the commission have been provided. (7) The commission shall not register or issue any order approving any vacation time-sharing plan unless the commission determines, on the basis of materials submitted by the developer, that the time-sharing units, accommodations, or facilities or any additions thereto will be completed. (Acts 1983, No. 83-670, p. 1035, §14; Acts 1985, No. 85-750, p. 1204, §1.)
AL Code § 34-27-64 (2021)
2021 Code of Alabama|Title 34 - Professions and Businesses.|Chapter 27 - Real Estate Brokers.|Article 3 - Vacation Time-Sharing Plans.|Section 34-27-64 - Registration Fees; Assessment of Costs of Investigating Violation of Article.

Section 34-27-64Registration fees; assessment of costs of investigating violation of article. (a) For the registration of all vacation time-sharing plans and the accommodations and facilities affected thereby which are located within the state, there shall be paid to the commission the initial sum of seven hundred fifty dollars ($750), together with an annual renewal fee of seven hundred fifty dollars ($750). In addition to submitting an annual renewal fee, each time-sharing plan must submit an audited annual financial statement of the entity or person in whose name the plan is registered done by a certified public accountant and such other materials as the commission shall require for an annual registration renewal. For amendments or changes to each sales promotion including brochures, pamphlets, advertisements, or other materials disseminated to the public required pursuant to subdivision (2) of Section 34-27-51, there shall be paid a fee of twenty dollars ($20) at the time of submission to the commission for approval. (b) For the registration of all vacation time-sharing plans and the accommodations and facilities affected thereby which are located outside the state, there shall be paid to the commission the initial sum of seven hundred fifty dollars ($750), together with an annual renewal fee of seven hundred fifty dollars ($750). All books, files, accounts and other documents pertaining to the advertisement and sale of vacation time-sharing plans located outside the state shall be subject to examination by the commission and the business entity whose documentation is being examined shall pay a fee of five hundred dollars ($500) plus the actual expenses, including the cost of transportation, of the examiner representing the commission while he or she is absent from this office for purposes of conducting the examination. For amendments or changes to each sales promotion including brochures, pamphlets, advertisements, or other materials disseminated to the public required pursuant to subdivision (2) of Section 34-27-51, there shall be paid a fee of twenty dollars ($20) at the time of submission to the commission for approval. (c) If the commission determines that the registration or operation of any vacation time-sharing plan violates the provisions of this article in such manner as indicates bad faith or dishonesty, the commission, after notice and hearing, may assess all reasonable costs of the investigation and prosecution of such violations. (Acts 1983, No. 83-670, p. 1035, §15; Acts 1985, No. 85-750, p. 1204, §1; Act 2001-310, p. 391, §1.)
AL Code § 34-27-65 (2021)
2021 Code of Alabama|Title 34 - Professions and Businesses.|Chapter 27 - Real Estate Brokers.|Article 3 - Vacation Time-Sharing Plans.|Section 34-27-65 - Proceeds From Sale, etc., of Lease Plan Exempt From Transient Occupancy Tax.

Section 34-27-65Proceeds from sale, etc., of lease plan exempt from Transient Occupancy Tax. The proceeds from the sale or resale of any vacation time-sharing lease plan shall be exempt from the Transient Occupancy Tax imposed by Section 40-26-1. (Acts 1983, No. 83-670, p. 1035, §16.)
AL Code § 34-27-67 (2021)
2021 Code of Alabama|Title 34 - Professions and Businesses.|Chapter 27 - Real Estate Brokers.|Article 3 - Vacation Time-Sharing Plans.|Section 34-27-67 - Registration Required of Every Plan Offered for Sale.

Section 34-27-67Registration required of every plan offered for sale. Every vacation time-sharing plan for sale or offered for sale in this state shall be registered with the Alabama Real Estate Commission as follows: (1) Upon receipt of an application for registration in the required form, the commission shall forthwith initiate an examination to determine that: a. The seller may convey or cause to be conveyed the vacation time-sharing plan offered for sale if the purchaser complies with the terms of the offer. b. The advertising material and general promotional plan are not false or misleading as determined by the commission. c. The requirements of this article and the rules of the commission have been fulfilled. d. The seller has not, or, if a corporation, its officers, directors, and principals have not been convicted of any crime involving land dispositions, any crime of moral turpitude, any securities law violation, fraudulent business activity, or any aspect of the vacation time-sharing business in this state, the United States, or any other state or foreign country within the 10 years immediately preceding the date of application, and has not been subject to any injunction or administrative order within the preceding 10 years involving any of the activities above. (2) Upon receipt of the application for registration in required form, the commission shall issue a notice of filing to the applicant. If within 45 days from the date of the notice of filing, the commission affirmatively determines upon inquiry and examination that the requirements of this article have been met, the commission shall enter an order registering the vacation time-sharing plan or rejecting the registration. If no order of rejection is entered within 45 days from the date of notice of filing, the vacation time-sharing plan shall be deemed registered unless the applicant has consented in writing to a delay. No reasonable request for an extension of time by the commission shall be withheld; provided that if the commission determines upon inquiry and examination that any of the requirements of this article have not been met, the commission shall notify the applicant that the application for registration must be corrected in the particulars specified within 15 days. If the requirements are not met within the time allowed, the commission shall enter an order rejecting the registration which shall include the findings of fact upon which the order is based. The order rejecting the registration shall not become effective for 20 days during which time the applicant may petition for reconsideration and shall be entitled to a hearing. (Acts 1983, No. 83-670, p. 1035, §18; Acts 1985, No. 85-750, p. 1204, §1.)
AL Code § 34-27-80 (2021)
2021 Code of Alabama|Title 34 - Professions and Businesses.|Chapter 27 - Real Estate Brokers.|Article 4 - Real Estate Consumer's Agency and Disclosure Act.|Section 34-27-80 - Short Title.

Section 34-27-80Short title. This article shall be known and may be cited as the "Real Estate Consumer's Agency and Disclosure Act." (Acts 1995, No. 95-211, p. 341, §1.)
AL Code § 34-27-83 (2021)
2021 Code of Alabama|Title 34 - Professions and Businesses.|Chapter 27 - Real Estate Brokers.|Article 4 - Real Estate Consumer's Agency and Disclosure Act.|Section 34-27-83 - Agency Disclosure Office Policy.

Section 34-27-83Agency disclosure office policy. Any broker acting in a real estate transaction shall adopt a written agency disclosure office policy which specifically enumerates the types of brokerage service arrangements a licensee may offer or accept. (a) The qualifying broker for each brokerage company shall provide every licensee a copy of the agency disclosure policy regarding the types of brokerage services offered by their company. This policy shall be explained to all licensees at least once a year. (b) A form acknowledging receipt of the office policy statement and a satisfactory explanation of its contents shall be signed by each licensee and a copy retained by the brokerage company for three years. (Acts 1995, No. 95-211, p. 341, §4.)
AL Code § 34-27-84 (2021)
2021 Code of Alabama|Title 34 - Professions and Businesses.|Chapter 27 - Real Estate Brokers.|Article 4 - Real Estate Consumer's Agency and Disclosure Act.|Section 34-27-84 - Obligations of Licensees.

Section 34-27-84Obligations of licensees. (a) Licensees shall have all of the following obligations to all parties in a real estate transaction: (1) To provide brokerage services to all parties to the transaction honestly and in good faith. (2) To exercise reasonable skill and care in providing brokerage services to all parties. (3) To keep confidential any information given to the licensee in confidence, or any information obtained by the licensee that the licensee knows a reasonable individual would want to keep confidential, unless disclosure of this information is required by law, violates a fiduciary duty to a client, becomes public knowledge, or is authorized by the party in writing. (4) To account for all property coming into the possession of the licensee that belongs to any party to the real estate transaction. (5) When assisting a party in the negotiation of a real estate transaction, to present all written offers in a timely and truthful manner. (6) To act on behalf of the licensee or his or her immediate family, or on behalf of any other individual, organization, or business entity in which the licensee has a personal interest only with prior timely written disclosure of this interest to all parties to the transaction. (b) A licensee may provide requested information which affects a transaction to any party who requests the information, unless disclosure of the information is prohibited by law or in this article. (c) When accepting an agreement to list an owner's property for sale, the broker or his or her licensee shall, at a minimum, accept delivery of and present to the consumer all offers, counteroffers, and addenda to assist the consumer in negotiating offers, counteroffers, and addenda, and to answer the consumer's questions relating to the transaction. (Acts 1995, No. 95-211, p. 341, §5; Act 2005-314, 1st Sp. Sess., p. 646, §1.)
AL Code § 34-27-85 (2021)
2021 Code of Alabama|Title 34 - Professions and Businesses.|Chapter 27 - Real Estate Brokers.|Article 4 - Real Estate Consumer's Agency and Disclosure Act.|Section 34-27-85 - Services Licensees Required to Provide.

Section 34-27-85Services licensees required to provide. (a) In addition to the duties enumerated in Section 34-27-84, a licensee shall provide all of the following services to clients: (1) Loyally represent the best interests of the client by placing the interests of the client ahead of the interests of any other party, unless loyalty to a client violates the duties of the licensee to other parties under Section 34-27-84, or is otherwise prohibited by law. (2) Disclose to the client all information known by the licensee that is material to the transaction and not discoverable by the client through reasonable investigation and observation, except for confidential information as provided in subdivision (3) of subsection (a) of Section 34-27-84. A licensee shall have no affirmative duty to discover the information. (3) Fulfill any obligation required by the agency agreement, and any lawful instructions of the client that are within the scope of the agency agreement, that are not inconsistent with other duties as enumerated in this article. (b) A broker who represents more than one client in a real estate transaction owes the duties as specified in subsection (a) to each client, except where the duties to one client will violate the fiduciary duties of the licensee to other clients. (c) A broker may provide brokerage services as a limited consensual dual agent only with the prior written, informed consent of all clients of the broker in the transaction. (Acts 1995, No. 95-211, p. 341, §6.)