reglab/housing_qa huggingface dataset:
SC Code § 27-32-160 (2021)
2021 South Carolina Code of Laws|Title 27 - Property and Conveyances|Chapter 32 - Vacation Time Sharing Plans|Section 27-32-160. Grants in aid and contracts with similar agencies to further objectives.

 The commission may accept grants-in-aid from a private or public source and may contract with agencies charged with similar functions in this or other jurisdictions, in furtherance of the objectives of this chapter.  HISTORY: 1979 Act No. 179, Section 1; 1994 Act No. 385, Section 47; 2003 Act No. 84, Section 1.
SC Code § 27-32-170 (2021)
2021 South Carolina Code of Laws|Title 27 - Property and Conveyances|Chapter 32 - Vacation Time Sharing Plans|Section 27-32-170. Proceeds from sale or exchange exempt from sales tax.

 The gross proceeds from the sale or resale of a vacation time sharing plan and the exchange of an interest in a vacation time sharing plan are exempt from sales tax imposed by Chapter 36 of Title 12 pursuant to the provisions of Section 12-36-2120.  HISTORY: 1979 Act No. 179, Section 1; 1998 Act No. 340, Section 2; 1998 Act No. 419, Part II, Section 61B; 2003 Act No. 84, Section 1.
SC Code § 27-32-180 (2021)
2021 South Carolina Code of Laws|Title 27 - Property and Conveyances|Chapter 32 - Vacation Time Sharing Plans|Section 27-32-180. Registration of persons engaging in the sale of vacation time sharing plans; form and contents; exemption for regular employees of seller; fees; seller's supervision and control; renewal.

 (A) Except as provided in subsection (B) of this section, a person desiring to engage in the sale of vacation time sharing plans on behalf of a seller shall first register with the commission. The registration must be submitted to the commission by the person on a form prescribed by the commission and including the name, address, and telephone number of the person and additional information as requested by the commission.  (B) Regular employees of the seller are exempt from the registration requirements of subsection (A) and from all licensing requirements of Chapter 57 of Title 40.  (C) A person registering pursuant to this section shall pay an initial registration fee in the amount of one hundred dollars. This fee must accompany the registration application submitted to the commission.  (D) The seller shall supervise, manage, and control all aspects of the offering and sale of a vacation time sharing plan. A violation of this chapter by a registrant employed by a seller as an independent contractor, either directly or through a third party, in connection with the offering or sales of interests in vacation time sharing plans may be considered to be a violation by the seller, as well as by the registrant who committed the violation, if the seller knew or should have known of the conduct constituting the violation.  (E) The registration of a person registered pursuant to this section is subject to annual renewal, on or before June thirtieth, upon submission of a renewal application in a form as the commission prescribes and payment of a fifty-dollar renewal fee. Failure to timely renew results in cancellation of the registration.  HISTORY: 1981 Act No. 106, Section 3; 1994 Act No. 385, Section 48; 2003 Act No. 84, Section 1.
SC Code § 27-32-200 (2021)
2021 South Carolina Code of Laws|Title 27 - Property and Conveyances|Chapter 32 - Vacation Time Sharing Plans|Section 27-32-200. Vacation Time Sharing Recovery Fund.

 (A) There is created a special fund known as the " Vacation Time Sharing Recovery Fund", which must be maintained by the commission and funded as provided for the payment of claims to persons injured by the acts of persons registered or licensed pursuant to this chapter.  (B) The funds must be held and accumulated from year to year in the State Treasury in a special fund for the commission, designated as the "South Carolina Vacation Time Sharing Recovery Fund". The fund is a continuing fund not subject to fiscal year limitations, and is under the administrative direction of the commission. Expenditures from this fund must be made in accordance with the provisions of this chapter without legislative appropriation. Warrants for expenditures from the fund must be drawn by the Comptroller General pursuant to claims approved and signed by the commission.  HISTORY: 1981 Act No. 106, Section 5; 1994 Act No. 385, Section 50; 2003 Act No. 84, Section 1.
SC Code § 27-32-210 (2021)
2021 South Carolina Code of Laws|Title 27 - Property and Conveyances|Chapter 32 - Vacation Time Sharing Plans|Section 27-32-210. Recovery from fund; conditions.

 (A) A person aggrieved by the conduct of a registrant or licensee may seek recovery from the Vacation Time Sharing Recovery fund if:  (1) the facts giving rise to the applicant's claim occurred on or after January 1, 1982, and were based on a specific violation of this chapter;  (2) the applicant has made demand upon the registrant or licensee by certified mail, return receipt requested, for his actual damages and the demand has been refused or ignored;  (3) the applicant is not:  (a) related by blood or marriage to the registrant or licensee;  (b) registered or licensed pursuant to this chapter;  (c) the employer, principal, or broker in charge of the registrant or licensee; or  (d) a party jointly responsible for the claim; and  (4) application for recovery is made not later than one year from the date or discovery of the loss.  (B) Application for recovery must be made under oath and upon a form prescribed by the commission and containing the following minimum information:  (1) name and address of the applicant;  (2) name and address of the registrant or licensee and his last known working address;  (3) amount of recovery sought, together with evidence supporting the claim;  (4) copies of all complaints or other legal process initiated;  (5) disclosure of any partial satisfaction received, offered, or otherwise available from the registrant or licensee, his broker-in-charge, or from a bond or policy of insurance or other source; and  (6) a detailed statement of the events precipitating the loss, together with documents and other evidence supporting the claim.  (C) Upon receiving a claim in proper form, the commission shall forward the claim by certified mail, return receipt requested, to the last known address of the registrant or licensee and to the broker-in-charge of the registrant or licensee. The registrant or licensee and the broker-in-charge shall file a verified answer to the claim within twenty days. If an answer is not filed within twenty days, the broker or registrant or licensee is in default and the commission shall schedule an arbitration of the claim. If the broker or registrant or licensee files a timely answer, the commission shall investigate the claim for a period not to exceed sixty days and after that promptly schedule an arbitration of the claim. The registrant or licensee, broker, commission, and claimant are entitled to present evidence, and question and cross examine witnesses as parties to the arbitration.  (D) Failure of the applicant to comply fully with this section is a waiver of all rights under the section.  HISTORY: 1981 Act No. 106, Section 5; 1994 Act No. 385, Section 51; 2003 Act No. 84, Section 1.
SC Code § 27-32-220 (2021)
2021 South Carolina Code of Laws|Title 27 - Property and Conveyances|Chapter 32 - Vacation Time Sharing Plans|Section 27-32-220. Limitations on payments from fund.

 These limitations apply to payments from the recovery fund:  (1) Only the applicant's actual damages are paid from the recovery fund. An applicant may not recover punitive, special, or consequential damages or attorney's fees.  (2) The fund is not liable for more than five thousand dollars for each transaction, regardless of the number of persons aggrieved or the number of time sharing interests involved in the transaction.  (3) The liability of the fund may not exceed in the aggregate ten thousand dollars for any one registrant or licensee in a single calendar year and in no event may exceed twenty thousand dollars for any one registrant or licensee.  (4) If the maximum liability of the fund is insufficient to pay in full the valid claims of all aggrieved persons whose claims relate to the same transaction or to the same registrant or licensee, the amount for which the fund is liable must be distributed among the claimants in a ratio that their respective claims bear to the total of the valid claims or in the manner as the Board of Arbitrators in its sole discretion shall decide. The Board of Arbitrators in its sole discretion is empowered to join in one action all claims having a common factual basis so that an equitable distribution from the fund may be achieved.  (5) If valid claims against the fund exceed the monies it contains, the commission shall satisfy the unpaid claims or portions of them as soon as a sufficient amount of money has been deposited, together with interest at the rate of eight percent a year from the date of award. All claims against the fund must be made in the same order as the awards from it were authorized by the Board of Arbitrators. An award is not a claim against the State if it is not paid due to a lack of funds in the Vacation Time Sharing Recovery Fund.  HISTORY: 1981 Act No. 106, Section 5; 1994 Act No. 385, Section 52; 2003 Act No. 84, Section 1.
SC Code § 27-32-230 (2021)
2021 South Carolina Code of Laws|Title 27 - Property and Conveyances|Chapter 32 - Vacation Time Sharing Plans|Section 27-32-230. Arbitration; automatic revocation of license; applicant receiving award to subrogate rights.

 (A) A person registered or licensed pursuant to this chapter and a person claiming an interest in the fund shall submit to the decision of a Board of Arbitrators, which is final and binding. The Board of Arbitrators must be composed of three arbitrators, one chosen by the applicant, one chosen by the registrant or licensee, and the commission or its designee. If the registrant or licensee fails to nominate an arbitrator within five days of request or does not respond to the claim, the commission shall nominate the third arbitrator. The decision of the majority rules. Arbitrations must be held at the office of the commission at a time and according to rules of procedure it prescribes.  (B) Upon payment of a claim, the registration or license, of the offending licensee is revoked automatically. The registrant or licensee is not qualified for reregistering or relicensing until all amounts paid on his account are repaid in full to the recovery fund, together with annual interest at the rate of eight percent. This section does not prevent the commission or another authority from pursuing another remedy at law or equity.  (C) An applicant receiving an award from the fund shall subrogate all rights relative to the claim to the commission to the full extent of all amounts paid, including interest, and shall cooperate with the commission in the prosecution of the subrogated claim. Any amounts so recovered against a registrant or licensee or other responsible parties must be deposited into the fund, less the costs and expenses of collection.  HISTORY: 1981 Act No. 106, Section 5; 1994 Act No. 385, Section 53; 2003 Act No. 84, Section 1.
SC Code § 27-32-240 (2021)
2021 South Carolina Code of Laws|Title 27 - Property and Conveyances|Chapter 32 - Vacation Time Sharing Plans|Section 27-32-240. Property taxation of time share units; valuation; assessment; enforcement.

 (1) For purposes of property taxation, a time share unit operating under a vacation time sharing ownership plan as defined in item (7) of Section 27-32-10, must be valued in the same manner as if the unit were owned by a single owner. The total cumulative purchase price paid by the time share owners for a unit may not be utilized by the tax assessor as a factor in determining the assessed value of the unit. A unit operating under a vacation time sharing lease plan as defined in item (8) of Section 27-32-10, may, however, be assessed as other income producing and investment property is assessed.  (2) The assessment and taxation of real property committed to a vacation time ownership plan must be in the name of the person that is designated to provide or receive the funds for payment of the taxes.  (3) Should the person fail to pay the taxes, an execution for the taxes must be issued in the joint name of all the owners of the time sharing periods and must be collected as provided by law.  HISTORY: 1985 Act No. 201, Part II, Section 38; 2003 Act No. 84, Section 1.
SC Code § 27-32-300 (2021)
2021 South Carolina Code of Laws|Title 27 - Property and Conveyances|Chapter 32 - Vacation Time Sharing Plans|Section 27-32-300. Short title.

 This article may be cited as the "Timeshare Lien Foreclosure Act".  HISTORY: 2000 Act No. 262, Section 1.
SC Code § 27-32-305 (2021)
2021 South Carolina Code of Laws|Title 27 - Property and Conveyances|Chapter 32 - Vacation Time Sharing Plans|Section 27-32-305. Purpose.

 The purposes of this article are to:  (1) recognize that timeshare estates are interests in real property used for vacation experience rather than for homestead purposes and that there are numerous timeshare estates in South Carolina;  (2) recognize that the economic health and efficient operation of the vacation ownership industry are in part dependent upon the availability of an efficient and economical process for foreclosure;  (3) recognize the need to assist vacation ownership resort owners' associations by simplifying and expediting the process of foreclosure of assessment liens and mortgage liens;  (4) reduce court congestion and cost to taxpayers by establishing streamlined procedures for foreclosure of assessment liens and mortgage liens against timeshare estates;  (5) establish those streamlined procedures by giving statutory recognition to the right of persons to privately contract for a power of sale as their remedy in lieu of a judicial foreclosure of liens on timeshare estates while specifically limiting the application of such nonjudicial foreclosure procedures to timeshare estates only.  HISTORY: 2000 Act No. 262, Section 1.
SC Code § 27-32-310 (2021)
2021 South Carolina Code of Laws|Title 27 - Property and Conveyances|Chapter 32 - Vacation Time Sharing Plans|Section 27-32-310. Definitions.

 As used in this article:  (1) "Assessment lien" means:  (a) a lien for delinquent assessments as to timeshare estates; or  (b) a lien for unpaid taxes and special assessments.  (2) "Claim of lien" means a claim of a recorded assessment lien.  (3) "Junior interest holder" means any person who has a lien or interest of record prior to the recording of the notice of sale against a timeshare estate in the county in which the timeshare estate is located which is inferior to the mortgage lien or assessment lien being foreclosed under this article.  (4) "Lienholder" means a holder of an assessment lien or a holder of a mortgage lien, as applicable.  (5) "Mortgage lien" means a security interest in a timeshare estate created by a mortgage encumbering the timeshare estate.  (6) "Mortgagee" means a person holding a mortgage lien.  (7) "Mortgagor" means a person granting a mortgage lien.  (8) "Notice address" means:  (a) as to an assessment lien, the address of the current obligor of a timeshare estate as reflected by the books and records of the timeshare plan.  (b) as to a mortgage lien:  (i) the address of the mortgagor set forth in the mortgage, the promissory note, or a separate document executed by the mortgagor at the time the mortgage lien was created, or the most current address of the mortgagor according to the records of the mortgagee; and  (ii) the address of the current obligor of the timeshare estate as reflected by the books and records of the timeshare plan.  (c) as to a "junior interest holder", the address set forth in the recorded instrument creating the junior interest or lien or any recorded supplement thereto changing the address and written notification by the "junior interest holder" to the foreclosing lienholder of a change in address.  (9) "Obligor" means either the mortgagor, the person obligated under a claim of lien, or the record owner of the timeshare estate as the context requires.  (10) "Power of sale" means:  (a) an express written agreement in a mortgage identifying the mortgagor, mortgagee, and the trustee; or  (b) an express written provision in a timeshare instrument identifying the managing entity and the trustee which authorizes the trustee to sell the timeshare estate without judicial action at a foreclosure sale regularly conducted and duly held in accordance with this article.  (11) "Timeshare instrument" means the document or documents which provide the legal framework for the establishment of the method of interval ownership of the timeshare estate and is or are recorded at the office of Register of Deeds in the county in which the timeshare estate is located.  (12) "Trustee" means any person entitled to exercise a power of sale.  HISTORY: 2000 Act No. 262, Section 1.
SC Code § 27-32-315 (2021)
2021 South Carolina Code of Laws|Title 27 - Property and Conveyances|Chapter 32 - Vacation Time Sharing Plans|Section 27-32-315. Who may serve as trustee; appointment of successor trustee; notice of substitution of trustee.

 (A) A trustee may be any:  (1) attorney who is an active licensed member of the South Carolina Bar in good standing or a law firm whose members include such an attorney; or  (2) title insurance company, title insurance agent, or title insurance agency licensed to do business in this State.  (B) An attorney who is a trustee under subsection (A)(1) may represent the lienholder foreclosing under this article in addition to performing the duties of a trustee under a power of sale.  (C) Successor trustees may be appointed by a lienholder at any time by recording a notice of substitution of trustee in the public records for the county in which the timeshare estate is located. From the time the substitution of trustee is recorded, the successor trustee succeeds to all the powers, duties, and authority of the original trustee and successor trustees, if any.  (D) The recorded notice of substitution of trustee must identify:  (1) the mortgage or timeshare instrument;  (2) the names of the original parties to the mortgage or timeshare instrument;  (3) the date of recordation of the mortgage or timeshare instrument;  (4) the official record book and page number where the mortgage or timeshare instrument is recorded;  (5) the name of the successor trustee; and  (6) the name of the trustee being replaced. The notice must recite acceptance by the successor trustee of his or her duties and must be dated, signed, and acknowledged by the lienholder and the successor trustee. A notice of substitution of trustee is valid for purposes of this article when made and recorded in accordance with this section. A resignation of the original or prior trustee is not required.  (E) The lienholder may not serve as the trustee.  HISTORY: 2000 Act No. 262, Section 1.
SC Code § 27-32-335 (2021)
2021 South Carolina Code of Laws|Title 27 - Property and Conveyances|Chapter 32 - Vacation Time Sharing Plans|Section 27-32-335. Contents, recording, and publication of notice of sale; right to cure default; copy to obligor; subsequent interests.

 (A) The notice of sale must set forth:  (1) the names and notice addresses of the obligor, the record owner of the timeshare estate if different from the obligor, and the junior interest holders;  (2) the name and address of the trustee;  (3) a description of the existence of a default under the mortgage, the timeshare instrument, or applicable law;  (4) the official record book and page numbers where the mortgage or the claim of lien is recorded;  (5) the legal description of the timeshare estate;  (6) the amount secured by the mortgage or the assessment lien, whichever is being foreclosed, accrued interest, and late charges as of the date of notice of sale and including a per diem amount to account for further accrual of interest and late charges, advances for the payment of taxes, insurance, and maintenance of the timeshare estate, and cost of the sale including a title search fee and reasonable trustee's and attorney's fees and costs;  (7) a statement of the trustee's intention to sell the timeshare estate to satisfy the obligation;  (8) the date, time, and place of sale to be held after 9:00 a.m. but before 4:00 p.m. on a regular business day not less than thirty days after the recording of the notice of sale.  (B) The right of the obligor to cure the default or the right of the junior interest holder to redeem its interest continues up to the date the trustee issues the certificate of sale in accordance with Section 27-32-345.  (C) The trustee must send a copy of the notice of sale on the date it is submitted for recording, by first class mail, postage prepaid, to the notice addresses of the obligor, the owner, if different from the obligor, and the junior interest holders. In addition, a copy of the notice of sale must be sent by certified or registered mail to the lienholder.  (D) Except as provided in this article, no notice is required to be given to any person claiming an interest subsequent to the recording of the notice of sale as set forth in this section. The recording of the notice of sale has the same force and effect as the filing of a lis pendens in a judicial proceeding.  (E) The trustee must publish the notice of sale in a newspaper of general circulation in the county in which the sale is to be held once a week for two consecutive weeks prior to the date of the sale. The last publication must occur at least five days prior to the sale.  HISTORY: 2000 Act No. 262, Section 1.
SC Code § 27-32-340 (2021)
2021 South Carolina Code of Laws|Title 27 - Property and Conveyances|Chapter 32 - Vacation Time Sharing Plans|Section 27-32-340. Certificate of compliance; contents; recording; reliance on lienholder for facts and circumstances of default.

 (A) On the date the trustee conducts a sale, the trustee must execute a duly acknowledged certificate of compliance and must record the certificate of compliance in the public records of the county in which the timeshare estate is located.  (B) In the certificate of compliance, the trustee must:  (1) set forth the manner of delivery of the notice of default and intent to sell under Section 27-32-330 with the required affidavit, state that the notice contained the conspicuous language required by Section 27-32-325, state that the default was not cured and the timeshare estate was not redeemed, and state that the trustee did not receive any written objection within the period required under Section 27-32-325.  (2) confirm that the notice of sale was published as required by subsection (D) of Section 27-32-335 and attach an affidavit of publication for the notice of sale.  (3) confirm that the notice of sale was mailed pursuant to Section 27-32-335 together with a list of the parties to whom the notice of sale was mailed and the address used for each party.  (C) In furtherance of the execution and recording of the certificate of compliance required pursuant to this section, the trustee is entitled to rely upon an affidavit or certification from the lienholder as to the facts and circumstances of default and failure to curb the default.  HISTORY: 2000 Act No. 262, Section 1.