reglab/housing_qa huggingface dataset:
TN Code § 66-32-117 (2021)
2021 Tennessee Code|Title 66 - Property|Chapter 32 - Time-Share Programs and Vacation Clubs|Part 1 - Time-Share Act of 1981|§ 66-32-117. Liens

  Unless the purchaser expressly agrees to take subject to or assume a lien prior to transferring a time-share interval other than by deed in lieu of foreclosure, the developer shall record or furnish to the purchaser releases of all liens affecting that time-share interval, or shall provide a surety bond or insurance against the lien.   Unless a time-share interval owner or such owner's predecessor in title agrees otherwise with the lienor, if a lien other than an underlying mortgage or deed of trust becomes effective against more than one (1) time-share interval in a time-share project, any time-share interval owner is entitled to a release of such owner's time-share interval from the lien upon payment of the amount. The payment must be proportionate to the ratio that the time-share interval owner's liability bears to the liabilities of all time-share interval owners whose interests are subject to the lien. Upon receipt of payment, the lienholder shall promptly deliver to the time-share interval owner a release of the lien covering that time-share interval. After payment, the managing entity may not assess or have a lien against that time-share interval for any portion of the expenses incurred in connection with that lien.
TN Code § 66-32-118 (2021)
2021 Tennessee Code|Title 66 - Property|Chapter 32 - Time-Share Programs and Vacation Clubs|Part 1 - Time-Share Act of 1981|§ 66-32-118. Violations — Attorney's Fees — Criminal Penalties

  If a developer or any other person subject to this part violates any provision thereof or any provision of the project instruments, any person or class of persons adversely affected by the violation has a claim for appropriate relief. Punitive damages may be awarded for a willful violation of this part. The court may also award reasonable attorney's fees.   Except as provided in subsection (c), any developer or any other person subject to this part who offers or disposes of a time-share interval without having complied with this part or who violates any provision of this part commits a Class C misdemeanor.   Any developer or any other person subject to this part who knowingly, willfully and intentionally offers, disposes of, or jeopardizes the interest of the purchaser of a time-share interval in violation of § 66-32-113, § 66-32-122(a) or § 66-32-128 commits a felony punishable by a fine not exceeding five thousand dollars ($5,000) or by imprisonment for not less than one (1) year nor more than three (3) years, or by both such fine and imprisonment.   Nothing in this part limits the power of the state to punish any person for any conduct or omission which constitutes a violation under any other provision of this code.
TN Code § 66-32-119 (2021)
2021 Tennessee Code|Title 66 - Property|Chapter 32 - Time-Share Programs and Vacation Clubs|Part 1 - Time-Share Act of 1981|§ 66-32-119. Statute of Limitations

 A judicial proceeding where the accuracy of the public offering statement or validity of any contract of purchase is in issue and a rescission of the contract or damages is sought must be commenced within four (4) years after the date of the contract of purchase, notwithstanding that the purchaser's terms of payments may extend beyond the period of limitation. However, with respect to the enforcement of provisions in the contract of purchase which require 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.
TN Code § 66-32-120 (2021)
2021 Tennessee Code|Title 66 - Property|Chapter 32 - Time-Share Programs and Vacation Clubs|Part 1 - Time-Share Act of 1981|§ 66-32-120. Financial Records

  The person or entity responsible for making and/or collecting common expenses, assessments or maintenance assessments shall keep detailed financial records.   All financial and other records shall be made reasonably available for examination by any time-share interval owner and such owner's authorized agents.
TN Code § 66-32-123 (2021)
2021 Tennessee Code|Title 66 - Property|Chapter 32 - Time-Share Programs and Vacation Clubs|Part 1 - Time-Share Act of 1981|§ 66-32-123. Application and Fees for Registration

  An application for registration must contain the public offering statement, a brief description of the property, copies of time-share instruments and any documents referred to therein other than tract maps, plats, plans, and such other information required by the commission's rules and regulations and be accompanied by any reasonable fees required by the commission.   Fee for registration of time-share interval plans; expenses for investigation and prosecution:  For the registration of all time-share interval plans and the accommodations and facilities affected thereby which are located within the state, there shall be paid to the commission the sum of one hundred dollars ($100), together with an annual renewal fee of fifty dollars ($50.00);   For the registration of all time-share interval plans and the accommodations and facilities affected thereby which are located outside the state, there shall be paid to the commission the sum of two hundred fifty dollars ($250), together with an annual renewal fee of one hundred dollars ($100); and   Notwithstanding subdivisions (b)(1) and (2), the fees charged and collected shall be sufficient to cover the cost of administering this part.
TN Code § 66-32-124 (2021)
2021 Tennessee Code|Title 66 - Property|Chapter 32 - Time-Share Programs and Vacation Clubs|Part 1 - Time-Share Act of 1981|§ 66-32-124. Commission Regulation of Public Offering Statement

  The commission at any time 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.   The public offering statement may not be used for any promotional purposes before registration and afterwards only if it is used in its entirety. No person may advertise or represent that the commission has approved or recommended the time-share program, the disclosure statement, or any of the documents contained in the application for registration.
TN Code § 66-32-125 (2021)
2021 Tennessee Code|Title 66 - Property|Chapter 32 - Time-Share Programs and Vacation Clubs|Part 1 - Time-Share Act of 1981|§ 66-32-125. Effective Date of Registration — Incomplete or Inadequate Application

  Except as otherwise provided in this section, the effective date of the registration, or any amendment thereto, shall be the forty-fifth day after the filing thereof or such earlier date as the commission may determine, having due regard to the public interest and the protection of purchasers. If any amendment to any such registration is filed prior to the effective date, the registration shall be deemed to have been filed when such amendment was filed.   If it appears to the commission that the application for registration, or any amendment thereto, is on its face incomplete or inaccurate in any material respect, the commission shall so advise the developer prior to the date the registration would otherwise be effective. Such notification shall serve to suspend the effective date of the filing until the forty-fifth day after the developer files such additional information as the commission shall require. Any developer, upon receipt of such notice of suspension, may request a hearing.
TN Code § 66-32-126 (2021)
2021 Tennessee Code|Title 66 - Property|Chapter 32 - Time-Share Programs and Vacation Clubs|Part 1 - Time-Share Act of 1981|§ 66-32-126. Exceptions From Registration Requirement

 No registration with the commission shall be required in the case of:   Any transfer of a time-share interval by any time-share interval owner other than the developer and/or the developer's agent;   Any disposition pursuant to court order;   A disposition by a government or governmental agency;   A disposition by foreclosure or deed in lieu of foreclosure;   A disposition of a time-share interval in a time-share project situated wholly outside this state; provided, that all solicitations, negotiations, and contacts took place wholly outside this state and the contract was executed wholly outside this state;   A gratuitous transfer of a time-share interval; or   Group reservations made for fifteen (15) or more people as a single transaction between a hotel and travel agent or travel groups for hotel accommodations, where deposits are made and held for more than three (3) years in advance.
TN Code § 66-32-127 (2021)
2021 Tennessee Code|Title 66 - Property|Chapter 32 - Time-Share Programs and Vacation Clubs|Part 1 - Time-Share Act of 1981|§ 66-32-127. Financing of Time-Share Programs

  In the financing of a time-share program, the developer shall retain financial records of the schedule of payments required to be made and the payments made to any person or entity which is the owner of an underlying blanket mortgage, deed of trust, contract of sale or other lien or encumbrance (lienhold).   Any transfer of the developer's interest in the time-share program to any third person shall be subject to the obligations of the developer.
TN Code § 66-32-128 (2021)
2021 Tennessee Code|Title 66 - Property|Chapter 32 - Time-Share Programs and Vacation Clubs|Part 1 - Time-Share Act of 1981|§ 66-32-128. Protection of Nondefaulting Purchasers

 The developer whose project is subject to an underlying blanket lien or encumbrance shall protect nondefaulting purchasers from foreclosure by the lienholder by obtaining from the lienholder a nondisturbance clause, subordination agreement or partial release of the lien as the time-share intervals are sold. In the alternative, the developer may obtain the agreement of the lienholder to take the project, in the event of default by the developer, subject to the rights of the nondefaulting purchasers by posting a bond, equal to fifty percent (50%) of the amount owed to the lienholder, making an assignment of receivables equal to one hundred twenty-five percent (125%) of the principal amounts due to the lienholder, pledging collateral security equal to one hundred percent (100%) of the amount owed to the lienholder or entering into any other financing plan or escrow agreement acceptable to the lienholder.
TN Code § 66-32-129 (2021)
2021 Tennessee Code|Title 66 - Property|Chapter 32 - Time-Share Programs and Vacation Clubs|Part 1 - Time-Share Act of 1981|§ 66-32-129. Protection of Lienholder

 The lienholder in any time-share program shall have the following rights:   A lienholder's lien rights shall be preserved as against any purchaser of time-share interval claiming that the time-share is invalid, void or voidable, thirty (30) days after written notice by certified mail or personal delivery has been given by the developer to the purchaser. Such notice must state the developer has assigned the receivables to the lienholder and that purchaser has thirty (30) days within which to object and specify the invalidity or defect contained within such instrument.   Any purchaser who fails to indicate the invalidity, void or voidableness as provided in subdivision (1) waives or is estopped to raise, the same in any subsequent enforcement of the collection of the receivable by the lienholder.
TN Code § 66-32-130 (2021)
2021 Tennessee Code|Title 66 - Property|Chapter 32 - Time-Share Programs and Vacation Clubs|Part 1 - Time-Share Act of 1981|§ 66-32-130. Premiere Tourist Resort City

 Notwithstanding any other provisions of this part, a “premiere tourist resort city” defined as a municipality having a population of three thousand (3,000) or more persons, according to the federal census of 1980 or any subsequent federal census in which at least forty percent (40%) of the assessed valuation, as shown by the tax assessment rolls or books of the municipality, of real estate in the municipality consists of hotels, motels, tourist court accommodations, tourist shops and restaurants, is hereby authorized to adopt by its board of commissioners any ordinance necessary to regulate the sale and use of time-share units within its jurisdiction including the requirement of registration, licenses, transfer and related requirements including any related fees.
TN Code § 66-32-131 (2021)
2021 Tennessee Code|Title 66 - Property|Chapter 32 - Time-Share Programs and Vacation Clubs|Part 1 - Time-Share Act of 1981|§ 66-32-131. Misleading Advertising Unlawful

 It is unlawful for any person with intent directly or indirectly to offer for sale or sell time-share intervals in this state to authorize, use, direct or aid in the publication, distribution or circulation of any advertisement, radio broadcast or telecast concerning the time-share project in which the time-share intervals are offered, which contains any statement, pictorial representation or sketch which is false or misleading. Nothing in this section shall be construed to hold the publisher or employee of any newspaper, or any job printer, or any broadcaster or telecaster, or any magazine publisher, or any of the employees thereof, liable for any publication referred to in this section unless the publisher, employee, or printer has actual knowledge of the falsity thereof or has an interest either as an owner or agent in the time-share intervals so advertised.
TN Code § 66-32-132 (2021)
2021 Tennessee Code|Title 66 - Property|Chapter 32 - Time-Share Programs and Vacation Clubs|Part 1 - Time-Share Act of 1981|§ 66-32-132. Advertising — Specific Prohibitions

 No advertising for the offer or sale of time-share intervals shall:   Contain any representation as to the availability of a resale program or rental program offered by or on behalf of the developer or its affiliate unless the resale program and/or rental program has been made a part of the offering and submitted to the commission;   Contain an offer or inducement to purchase which purports to be limited as to quantity or restricted as to time unless the numerical quantity and/or time applicable to the offer or inducement is clearly and conspicuously disclosed;   Contain any statement concerning the investment merit or profit potential of the time-share interval unless the commission has determined from evidence submitted on behalf of the developer that the representation is neither false nor misleading;   Make a prediction of or imply specific or immediate increases in the price or value of the time-share intervals; nor shall a price increase of a time-share interval be announced more than sixty (60) days prior to the date that the increase will be placed into effect;   Contain statements concerning the availability of time-share intervals at a particular minimum price if the number of time-share intervals available at that price comprises less than ten percent (10%) of the unsold inventory of the developer, unless the number of time-share intervals then for sale at the minimum price is set forth in the advertisement;   Contain any statement that the time-share interval being offered for sale can be further divided unless a full disclosure is included as to the legal requirements for further division of the time-share interval;   Contain any asterisk or other reference symbol as a means of contradicting or changing the ordinary meaning of any previously made statement in the advertisement;   Misrepresent the size, nature, extent, qualities, or characteristics of the accommodations or facilities which comprise the time-share project;   Misrepresent the nature or extent of any services incident to the time-share project;   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;   Make any misleading or deceptive representation with respect to the contents of the time-share program, the purchase contract, the purchaser's rights, privileges, benefits or obligations under the purchase contract or this part;   Misrepresent the conditions under which a purchaser or owner may participate in an exchange program; or   Describe any proposed or uncompleted private facilities over which the developer has no control unless the estimated date of completion is set forth 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.
TN Code § 66-32-134 (2021)
2021 Tennessee Code|Title 66 - Property|Chapter 32 - Time-Share Programs and Vacation Clubs|Part 1 - Time-Share Act of 1981|§ 66-32-134. Violation of §§ 66-32-131 — 66-32-133

 Whenever the commission determines from evidence available to it that a person is violating or failing to comply with the requirements of §§ 66-32-131 — 66-32-133, the commission may order the person to cease and desist from such violations and may take enforcement action under §§ 66-32-121 — 66-32-126.
TN Code § 66-32-135 (2021)
2021 Tennessee Code|Title 66 - Property|Chapter 32 - Time-Share Programs and Vacation Clubs|Part 1 - Time-Share Act of 1981|§ 66-32-135. Construction of §§ 66-32-131 — 66-32-133 With Tennessee Consumer Protection Act

 Sections 66-32-131 — 66-32-133 shall be in addition to those provisions in the Tennessee Consumer Protection Act, compiled in title 47, chapter 18; provided, that to the extent that any provisions of the Tennessee Consumer Protection Act are in conflict with §§ 66-32-131 — 66-32-133, the Tennessee Consumer Protection Act shall control.
TN Code § 66-32-136 (2021)
2021 Tennessee Code|Title 66 - Property|Chapter 32 - Time-Share Programs and Vacation Clubs|Part 1 - Time-Share Act of 1981|§ 66-32-136. Advertising Material — Engaging Time-Share Resale Broker in Connection With Resale of Time-Share Interval

  Any advertising material relating to the solicitation of an agreement engaging the services of a time-share resale broker in connection with the resale of a time-share interval pursuant to § 66-32-137(b) is subject to the provisions of §§ 66-32-131 — 66-32-135.   “Advertising material” includes any oral or written sales pitch, promotional brochure, pamphlet, catalogue, advertisement, sign, billboard or other material to be disseminated to the public by any means relating to the solicitation of an agreement engaging the services of a time-share resale broker in connection with the resale of a time-share interval, pursuant to § 66-32-137(b), including a transcript of any standard oral sales presentation or any radio or television advertisement.   No written advertising material relating to the solicitation of an agreement engaging the services of a time-share resale broker in connection with the resale of a time-share interval, pursuant to § 66-32-137(b), may be utilized by a time-share resale broker unless the advertising material includes in conspicuous type the disclosure described in § 66-32-137(b)(1).   The commission has authority to enforce this section as provided in §§ 66-32-121 and 62-13-109.
TN Code § 66-32-138 (2021)
2021 Tennessee Code|Title 66 - Property|Chapter 32 - Time-Share Programs and Vacation Clubs|Part 1 - Time-Share Act of 1981|§ 66-32-138. Delivery of Required Renewal Documentation and Fees

 Notwithstanding any other law to the contrary, all documentation and fees which are a prerequisite to the renewal of a license or registration shall be delivered to the commission no later than sixty (60) days prior to the expiration date of the license or registration.
TN Code § 66-32-139 (2021)
2021 Tennessee Code|Title 66 - Property|Chapter 32 - Time-Share Programs and Vacation Clubs|Part 1 - Time-Share Act of 1981|§ 66-32-139. Registration of Acquisition Agents — Penalties for Prohibited Activity and Conduct — Commission's Authority to Promulgate Rules and Regulations

  All acquisition agents and their representatives, as defined in § 66-32-102, shall register with the commission and furnish such information as provided by commission regulation. The application for registration shall be accompanied by a twenty-five dollar ($25.00) registration fee.   The commission has the authority to assess civil penalties, or to suspend or revoke the registration of an acquisition agent, for any activity or conduct in violation of § 62-13-312 or § 66-32-121. The commission also has the authority to promulgate rules and guidelines for the training and conduct of acquisition agents.
TN Code § 66-32-201 (2021)
2021 Tennessee Code|Title 66 - Property|Chapter 32 - Time-Share Programs and Vacation Clubs|Part 2 - Vacation Club Act of 1995|§ 66-32-201. Short Title

 This part shall be known and may be cited as the “Tennessee Vacation Club Act of 1995.”
TN Code § 66-32-202 (2021)
2021 Tennessee Code|Title 66 - Property|Chapter 32 - Time-Share Programs and Vacation Clubs|Part 2 - Vacation Club Act of 1995|§ 66-32-202. Legislative Intent

 The purpose of this part is to recognize that the sale and promotion of vacation clubs is an emerging, dynamic segment of the international tourism industry; that this segment of the tourism industry continues to grow, both in volume of sales and in complexity and variety of product structure; and that a uniform and consistent method of regulation is necessary in order to safeguard the state's consumers and the state's economic well-being. It is the intent of the general assembly that this part be interpreted broadly in order to enhance the quality of vacation clubs offered and sold in this state and to protect consumers who purchase vacation club interests.
TN Code § 66-32-203 (2021)
2021 Tennessee Code|Title 66 - Property|Chapter 32 - Time-Share Programs and Vacation Clubs|Part 2 - Vacation Club Act of 1995|§ 66-32-203. Application

 This part applies only to sellers of vacation club interests who offer for disposition vacation club interests to the general public in Tennessee. For purposes of this section, an offer shall be considered to be made in this state only if the offer:   Originates from this state; or   Is directed by the offeror into this state and is received at the place to which it is directed.
TN Code § 66-32-204 (2021)
2021 Tennessee Code|Title 66 - Property|Chapter 32 - Time-Share Programs and Vacation Clubs|Part 2 - Vacation Club Act of 1995|§ 66-32-204. Exemptions

 This part does not apply to any of the following:   An offer or disposition other than in the ordinary course of business by any holder of a purchase money lien, including any assignee thereof, who acquires a vacation club interest as a result of an owner's default with respect to the owner's purchase money financing obligations, whether such vacation club interest is acquired by foreclosure, the acceptance of a deed in lieu thereof, or other legal or equitable means;   A gratuitous disposition;   A disposition by devise, descent, or distribution or a disposition to an inter vivos trust;   An offer or disposition of a vacation club interest by an owner other than a developer, unless such owner makes such offer and disposition in the ordinary course of its business; or   An offer or disposition of a vacation club interest that is part of a duly registered vacation club pursuant to the laws of a state with the same or more stringent requirements as this state.