reglab/statecodes huggingface dataset:
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 1 - Real Estate Brokers and Salesmen. › § 93A-8 - Penalty for violation of Chapter.

§ 93A-8. Penalty for violation of Chapter.
Any person violating G.S. 93A-1 shall upon conviction thereof be deemed guilty of a Class 1 misdemeanor. (1957, c. 744, s. 8; 1993, c. 539, s. 657; 1994, Ex. Sess., c. 24, s. 14(c); 2019-198, s. 7.)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 1 - Real Estate Brokers and Salesmen. › § 93A-9 - Licensing foreign brokers.

§ 93A-9. Licensing foreign brokers.
(a) The Commission may issue a broker license to an applicant licensed in a foreign jurisdiction who has satisfied the requirements for licensure set out in G.S. 93A-4 or such other requirements as the Commission in its discretion may by rule require.
(b) The Commission may issue a limited broker's license to a person or an entity from another state or territory of the United States without regard to whether that state or territory offers similar licensing privileges to residents in North Carolina if the person or entity satisfies all of the following:
(1) Is of good moral character and licensed as a real estate broker or salesperson in good standing in another state or territory of the United States.
(2) Only engages in business as a real estate broker in North Carolina in transactions involving commercial real estate and while the person or entity is affiliated with a resident North Carolina real estate broker.
(3) Complies with the laws of this State regulating real estate brokers and rules adopted by the Commission.
The Commission may require an applicant for licensure under this subsection to pay a fee not to exceed three hundred dollars ($300.00). All licenses issued under this subsection shall expire on June 30 of each year following issuance or on a date that the Commission deems appropriate unless the license is renewed pursuant to the requirements of G.S. 93A-4. A person or entity licensed under this subsection may be disciplined by the Commission for violations of this Chapter as provided in G.S. 93A-6 and G.S. 93A-54.
Any person or entity licensed under this subsection shall be affiliated with a resident North Carolina real estate broker, and the resident North Carolina real estate broker shall actively and personally supervise the licensee in a manner that reasonably assures that the licensee complies with the requirements of this Chapter and rules adopted by the Commission. A person or entity licensed under this subsection shall not, however, be affiliated with a resident North Carolina real estate provisional broker. The Commission may exempt applicants for licensure under this subsection from examination and the other licensing requirements under G.S. 93A-4. The Commission may adopt rules as it deems necessary to give effect to this subsection, including rules establishing: (i) qualifications for licensure; (ii) licensure and renewal procedures; (iii) requirements for continuing education; (iv) conduct of persons and entities licensed under this subsection and their affiliated resident real estate brokers; (v) a definition of commercial real estate; and (vi) any requirements or limitations on affiliation between resident real estate brokers and persons or entities seeking licensure under this subsection. (1957, c. 744, s. 9; 1967, c. 281, s. 5; 1969, c. 191, s. 6; 1971, c. 86, s. 3; 1983, c. 81, s. 2.; 2000-140, s. 19(b); 2003-361, s. 3; 2005-395, s. 11; 2011-217, s. 8.)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 1 - Real Estate Brokers and Salesmen. › § 93A-10 - Nonresident licensees; filing of consent as to service of process and pleadings.

§ 93A-10. Nonresident licensees; filing of consent as to service of process and pleadings.
Every nonresident applicant shall file an irrevocable consent that suits and actions may be commenced against such applicant in any of the courts of record of this State, by the service of any process or pleading authorized by the laws of this State in any county in which the plaintiff may reside, by serving the same on the Executive Director of the Commission, said consent stipulating and agreeing that such service of such process or pleadings on said Executive Director shall be taken and held in all courts to be valid and binding as if due service had been made personally upon the applicant in this State. This consent shall be duly acknowledged, and, if made by a corporation, shall be executed by an officer of the corporation. The signature of the officer on the consent to service instrument shall be sufficient to bind the corporation and no further authentication is necessary. An application from a corporation or other business entity shall be signed by an officer of the corporation or entity or by an individual designated by the Commission. In all cases where process or pleadings shall be served, under the provisions of this Chapter, upon the Executive Director of the Commission, such process or pleadings shall be served in duplicate, one of which shall be filed in the office of the Commission and the other shall be forwarded immediately by the Executive Director of the Commission, by registered mail, to the last known business address of the nonresident licensee against which such process or pleadings are directed. (1957, c. 744, s. 10; 1983, c. 81, ss. 3, 10; 2003-361, s. 4.)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 1 - Real Estate Brokers and Salesmen. › § 93A-11 - Reimbursement by real estate independent contractor of brokers' workers' compensation.

§ 93A-11. Reimbursement by real estate independent contractor of brokers' workers' compensation.
(a) Notwithstanding the provisions of G.S. 97-21 or any other provision of law, a real estate broker may include in the governing contract with a real estate broker on provisional status whose nonemployee status is recognized pursuant to section 3508 of the United States Internal Revenue Code, 26 U.S.C. § 3508, an agreement for the broker on provisional status to reimburse the broker for the cost of covering that broker on provisional status under the broker's workers' compensation coverage of the broker's business.
(b) Nothing in this section shall affect a requirement under any other law to provide workers' compensation coverage or in any manner exclude from coverage any person, firm, or corporation otherwise subject to the provisions of Article 1 of Chapter 97 of the General Statutes. (1995, c. 127, s. 1.; 2000-140, s. 19(b); 2011-217, s. 9.)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 1 - Real Estate Brokers and Salesmen. › § 93A-12 - Disputed monies.

§ 93A-12. Disputed monies.
(a) An escrow agent may deposit with the clerk of court in accordance with this section monies, other than a residential security deposit, the ownership of which are in dispute and that were received while the escrow agent was acting in a fiduciary capacity.
(b) The disputed monies shall be deposited with the clerk of court in the county in which the property for which the disputed monies are being held is located. At the time of depositing the disputed monies, the escrow agent shall certify to the clerk of court that the persons claiming ownership of the disputed monies have been notified in accordance with subsection (c) of this section that the disputed monies are to be deposited with the clerk of court and that the persons may initiate a special proceeding with the clerk of court to recover the disputed monies.
(c) Notice to the persons claiming ownership to the disputed monies required under subsection (b) of this section shall be provided by delivering a copy of the notice to the person or by mailing it to the person by first-class mail, postpaid, properly addressed to the person at the person's last known address.
(d) An escrow agent shall not deposit disputed monies with the clerk of court until 90 days following notification of the persons claiming ownership of the disputed monies.
(e) Upon the filing of a special proceeding to recover the disputed monies, the clerk shall determine the rightful ownership of the monies and distribute the disputed monies accordingly. If no special proceeding is filed with the clerk of court within one year of the disputed monies being deposited with the clerk of court, the disputed monies shall be deemed unclaimed and shall be delivered by the clerk of court to the State Treasurer in accordance with the provisions of Article 4 of Chapter 116B of the General Statutes.
(f) As used in this section, "escrow agent" means any of the following:
(1) A real estate broker licensed under this Chapter.
(2) An attorney licensed to practice law in this State.
(3) A title insurance company or title insurance agent licensed to conduct business in this State. (2005-395, s. 12; 2011-350, s. 1; 2021-91, s. 11.)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 1 - Real Estate Brokers and Salesmen. › § 93A-13 - Contracts for broker services.

§ 93A-13. Contracts for broker services.
No action between a broker and the broker's client for recovery under an agreement for broker services is valid unless the contract is reduced to writing and signed by the party to be charged or by some other person lawfully authorized by the party to sign. (2011-165, s. 2.)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 2 - Real Estate Recovery Fund. › § 93A-16 - Real Estate Education and Recovery Fund created; payment to fund; management.

§ 93A-16. Real Estate Education and Recovery Fund created; payment to fund; management.
(a) There is hereby created a special fund to be known as the "Real Estate Education and Recovery Fund" which shall be set aside and maintained by the North Carolina Real Estate Commission. The fund shall be used in the manner provided under this Article for the payment of unsatisfied judgments where the aggrieved person has suffered a direct monetary loss by reason of certain acts committed by any real estate broker. The Commission may also expend money from the fund to create books and other publications, courses, forms, seminars, and other programs and materials to educate licensees and the public in real estate subjects. However, the Commission shall make no expenditures from the fund for educational purposes if the expenditure will reduce the balance of the fund to an amount less than two hundred thousand dollars ($200,000).
(b) On September 1, 1979, the Commission shall transfer the sum of one hundred thousand dollars ($100,000) from its expense reserve fund to the Real Estate Education and Recovery Fund. Thereafter, the Commission may transfer to the Real Estate Education and Recovery Fund additional sums of money from whatever funds the Commission may have, provided that, if on December 31 of any year the amount remaining in the fund is less than fifty thousand dollars ($50,000), the Commission may determine that each person or entity licensed under this Chapter, when renewing a license, shall pay in addition to the license renewal fee, a fee not to exceed ten dollars ($10.00) per broker as shall be determined by the Commission for the purpose of replenishing the fund.
(c) The Commission shall invest and reinvest the monies in the Real Estate Education and Recovery Fund in the same manner as provided by law for the investment of funds by the clerk of superior court. The proceeds from such investments shall be deposited to the credit of the fund.
(d) The Commission shall have the authority to adopt rules and procedures not inconsistent with the provisions of this Article, to provide for the orderly, fair and efficient administration and payment of monies held in the Real Estate Education and Recovery Fund. (1979, c. 614, s. 1; 1983, c. 81, ss. 1, 2; 1987, c. 516, ss. 3-5.; 2000-140, s. 19(b); 2001-487, s. 23(c); 2005-395, s. 13; 2011-217, s. 10.)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 2 - Real Estate Recovery Fund. › § 93A-18 - Hearing; required showing.

§ 93A-18. Hearing; required showing.
Upon application by an aggrieved person, the Commission shall conduct a hearing and the aggrieved person shall be required to show that the aggrieved person:
(1) Is not a spouse of the judgment debtor or a person representing the spouse;
(2) Is making application not more than one year after termination of all judicial proceedings, including appeals, in connection with the judgment;
(3) Has complied with all requirements of this Article;
(4) Has obtained a judgment as described in G.S. 93A-17, stating the amount owing thereon at the date of application;
(5) Has made all reasonable searches and inquiries to ascertain whether the judgment debtor is possessed of real or personal property or other assets liable to be sold or applied in satisfaction of the judgment;
(6) After searching as described in subdivision (5) of this section, has discovered no real or personal property or other assets liable to be sold or applied, or has discovered certain of them, describing them, but the amount so realized was insufficient to satisfy the judgment, stating the amount realized and the balance remaining due on the judgment after application of the amount realized;
(7) Has diligently pursued the aggrieved person's remedies, which include attempting execution on the judgment against all the judgment debtors, which execution has been returned unsatisfied; and
(8) Knows of no assets of the judgment debtor and has attempted collection from all other persons who may be liable for the transaction for which the aggrieved person seeks payment from the Real Estate Education and Recovery Fund if there be any such other persons. (1979, c. 614, s. 1; 1987, c. 516, s. 7; 2001-487, s. 23(d); 2011-217, s. 12.)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 2 - Real Estate Recovery Fund. › § 93A-19 - Response and defense by Commission and judgment debtor; proof of conversion.

§ 93A-19. Response and defense by Commission and judgment debtor; proof of conversion.
(a) Whenever the Commission proceeds upon an application as set forth in this Article, counsel for the Commission may defend such action on behalf of the fund and shall have recourse to all appropriate means of defense, including the examination of witnesses. The judgment debtor may defend such action on his or her own behalf and shall have recourse to all appropriate means of defense, including the examination of witnesses. Counsel for the Commission and the judgment debtor may file responses to the application, setting forth answers and defenses. Responses shall be filed with the Commission and copies shall be served upon every party by the filing party. If at any time it appears there are no triable issues of fact and the application for payment from the fund is without merit, the Commission shall dismiss the application. A motion to dismiss may be supported by affidavit of any person or persons having knowledge of the facts and may be made on the basis that the application or the judgment referred to therein do not form a basis for meritorious recovery within the purview of G.S. 93A-17, that the applicant has not complied with the provisions of this Article, or that the liability of the fund with regard to the particular licensee or transaction has been exhausted; provided, however, notice of the motion shall be given at least 10 days prior to the time fixed for hearing. If the applicant or judgment debtor fails to appear at the hearing after receiving notice of the hearing, the applicant or judgment debtor waives the person's rights unless the absence is excused by the Commission.
(b) Whenever the judgment obtained by an applicant is by default, stipulation, or consent, or whenever the action against the licensee was defended by a trustee in bankruptcy, the applicant, for purposes of this Article, shall have the burden of proving the cause of action for conversion of trust funds. Otherwise, the judgment shall create a rebuttable presumption of the conversion of trust funds. This presumption is a presumption affecting the burden of producing evidence. (1979, c. 614, s. 1; 1983, c. 81, s. 2; 1987, c. 516, s. 8; 1999-229, s. 9; 2001-487, s. 23(e).)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 2 - Real Estate Recovery Fund. › § 93A-20 - Order directing payment out of fund; compromise of claims.

§ 93A-20. Order directing payment out of fund; compromise of claims.
Applications for payment from the Real Estate Education and Recovery Fund shall be heard and decided by a majority of the members of the Commission. If, after a hearing, the Commission finds the claim should be paid from the fund, the Commission shall enter an order requiring payment from the fund of whatever sum the Commission shall find to be payable upon the claim in accordance with the limitations contained in this Article.
Subject to Commission approval, a claim based upon the application of an aggrieved person may be compromised; however, the Commission shall not be bound in any way by any compromise or stipulation of the judgment debtor. If a claim appears to be otherwise meritorious, the Commission may waive procedural defects in the application for payment. (1979, c. 614, s. 1; 1983, c. 81, s. 2; 1987, c. 516, s. 9; 1999-229, s. 10; 2011-217, s. 13.)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 2 - Real Estate Recovery Fund. › § 93A-21 - Limitations; pro rata distribution; attorney fees.

§ 93A-21. Limitations; pro rata distribution; attorney fees.
(a) Payments from the Real Estate Education and Recovery Fund shall be subject to the following limitations:
(1) The right to recovery under this Article shall be forever barred unless application is made within one year after termination of all proceedings including appeals, in connection with the judgment.
(2) The fund shall not be liable for more than fifty thousand dollars ($50,000) per transaction regardless of the number of persons aggrieved or parcels of real estate involved in such transaction.
(3) Payment from the fund shall not exceed in the aggregate twenty-five thousand dollars ($25,000) for any one licensee within a single calendar year, and in no event shall it exceed in the aggregate seventy-five thousand dollars ($75,000) for any one licensee.
(4) The fund shall not be liable for payment of any judgment awards of consequential damages, multiple or punitive damages, civil penalties, incidental damages, special damages, interest, costs of court or action or other similar awards.
(b) 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 licensee, the amount for which the fund is liable shall be distributed among the claimants in a ratio that their respective claims bear to the total of such valid claims or in such manner as the Commission, in its discretion, deems equitable. Upon petition of counsel for the Commission, the Commission may require all claimants and prospective claimants to be joined in one proceeding to the end that the respective rights of all such claimants to the Real Estate Education and Recovery Fund may be equitably resolved. A person who files an application for payment after the maximum liability of the fund for the licensee or transaction has been exhausted shall not be entitled to payment and may not seek judicial review of the Commission's award of payment to any party except upon a showing that the Commission abused its discretion.
(c) In the event an aggrieved person is entitled to payment from the fund in an amount which is equal to or less than the maximum amount of money which may be awarded in small claims court under G.S. 7A-210, the Commission may allow such person to recover from the fund reasonable attorney's fees incurred in effecting such recovery. Reimbursement for attorney's fees shall be limited to those fees incurred in effecting recovery from the fund and shall not include any fee incurred in obtaining judgment against the licensee. (1979, c. 614, s. 1; 1983, c. 81, ss. 2, 15; 1987, c. 516, ss. 10-13; 1999-229, s. 11; 2011-217, s. 14.)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 2 - Real Estate Recovery Fund. › § 93A-22 - Repayment to fund; automatic suspension of license.

§ 93A-22. Repayment to fund; automatic suspension of license.
Should the Commission pay from the Real Estate Education and Recovery Fund any amount in settlement of a claim or toward satisfaction of a judgment against a licensed real estate broker, any license issued to the broker shall be automatically suspended upon the effective date of the order authorizing payment from the fund. No such broker shall be granted a reinstatement until the fund has been repaid in full, including interest at the legal rate as provided for in G.S. 24-1. (1979, c. 614, s. 1; 1983, c. 81, s. 2; 1987, c. 516, s. 14.; 2000-140, s. 19(b); 2001-487, s. 23(f); 2005-395, s. 15; 2011-217, s. 15.)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 2 - Real Estate Recovery Fund. › § 93A-23 - Subrogation of rights.

§ 93A-23. Subrogation of rights.
When the Commission has paid from the Real Estate Education and Recovery Fund any sum to the judgment creditor, the Commission shall be subrogated to all of the rights of the judgment creditor to the extent of the amount so paid and the judgment creditor shall assign all right, title, and interest in the judgment to the extent of the amount so paid to the Commission and any amount and interest so recovered by the Commission on the judgment shall be deposited in the Real Estate Education and Recovery Fund. (1979, c. 614, s. 1; 1983, c. 81, s. 2; 1987, c. 516, s. 15; 2001-487, s. 23(g); 2011-217, s. 16.)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 2 - Real Estate Recovery Fund. › § 93A-24 - Waiver of rights.

§ 93A-24. Waiver of rights.
The failure of an aggrieved person to comply with this Article shall constitute a waiver of any rights hereunder. (1979, c. 614, s. 1.)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 2 - Real Estate Recovery Fund. › § 93A-25 - Persons ineligible to recover from fund.

§ 93A-25. Persons ineligible to recover from fund.
No real estate broker who suffers the loss of any commission from any transaction in which he or she was acting in the capacity of a real estate broker shall be entitled to make application for payment from the Real Estate Education and Recovery Fund for the loss. (1979, c. 614, s. 1.; 2000-140, s. 19(b); 2001-487, s. 23(h); 2011-217, s. 17.)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 2 - Real Estate Recovery Fund. › § 93A-26 - Disciplinary action against licensee.

§ 93A-26. Disciplinary action against licensee.
Nothing contained in this Article shall limit the authority of the Commission to take disciplinary action against any licensee under this Chapter, nor shall the repayment in full of all obligations to the fund by any licensee nullify or modify the effect of any other disciplinary proceeding brought under this Chapter. (1979, c. 614, s. 1; 1983, c. 81, s. 2.)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 3 - Private Real Estate Education Providers and Continuing Education Requirements. › § 93A-32 - Definitions.

§ 93A-32. Definitions.
As used in this Article:
(1) "Commission" means the North Carolina Real Estate Commission.
(2) "Private real estate education provider" or "education provider" means any individual or real estate educational entity which is privately owned and conducting, for a profit or tuition charge, real estate broker prelicensing, postlicensing, or continuing education courses prescribed by G.S. 93A-4(a) or (a1) or G.S. 93A-38.5, provided that a proprietary business or trade school licensed by the State Board of Community Colleges under G.S. 115D-90 to conduct courses other than those real estate courses described herein shall not be considered to be a private real estate education provider. (1979, 2nd Sess., c. 1193, s. 1; 1983, c. 81, ss. 1, 2; 1989, c. 563, s. 3; 1993, c. 419, s. 11; c. 553, s. 29.1.; 2000-140, s. 19(b); 2005-395, s. 16; 2019-195, s. 3.)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 3 - Private Real Estate Education Providers and Continuing Education Requirements. › § 93A-33 - Commission to administer Article.

§ 93A-33. Commission to administer Article.
The Commission shall have authority to administer and enforce this Article and to certify private real estate education providers as defined herein which have complied with the requirements of this Article and regulations promulgated by the Commission. Through certification applications, periodic reports required of education providers, periodic investigations, and appropriate regulations, the Commission shall exercise general supervisory authority over private real estate education providers, the object of such supervision being to protect the public interest and to assure the conduct of quality real estate education programs. To this end the Commission is authorized and directed to promulgate such regulations as it deems necessary which are not inconsistent with the provisions of this Article and which relate to the subject areas set out in G.S. 93A-34(c). (1979, 2nd Sess., c. 1193, s. 1; 1983, c. 81, s. 2; 2019-195, s. 3.)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 3 - Private Real Estate Education Providers and Continuing Education Requirements. › § 93A-35 - Duration and renewal of certifications; transfer of school ownership.

§ 93A-35. Duration and renewal of certifications; transfer of school ownership.
(a) All certifications issued shall expire on June 30 following the date of issuance.
(b) Certifications shall be renewable annually on July 1, provided that a renewal application accompanied by the appropriate renewal fees has been filed not later than June 1 in the form and manner prescribed by the Commission, and provided further that the applicant and education provider are found to be in compliance with the standards established for issuance of an original certification. The Commission may by rule set nonrefundable renewal fees not to exceed one hundred twenty-five dollars ($125.00) for each education provider location and twenty-five dollars ($25.00) for each real estate broker prelicensing and postlicensing course.
(c) In the event an education provider entity is sold or ownership is otherwise transferred, the certification issued to the original owner is not transferable to the new owner. The new owner must apply for an original certification as prescribed by this Article and Commission regulations. (1979, 2nd Sess., c. 1193, s. 1; 1983, c. 81, ss. 1, 2; 1989, c. 563, s. 5; 1993, c. 419, s. 13; 2000-140, s. 19(b); 2011-217, s. 18; 2019-195, s. 3.)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 3 - Private Real Estate Education Providers and Continuing Education Requirements. › § 93A-38 - Suspension, revocation or denial of certification.

§ 93A-38. Suspension, revocation or denial of certification.
The Commission shall have the power to suspend, revoke, deny issuance, or deny renewal of certification of a private real estate education provider. In all proceedings to suspend, revoke or deny a certification, the provisions of Chapter 150B of the General Statutes shall be applicable. The Commission may suspend, revoke, or deny such certification or renewal thereof when it finds that the applicant or principal thereof or holder of such certification has done any of the following:
(1) Refused or failed to comply with any of the provisions of this Article or the rules or regulations promulgated thereunder.
(2) Knowingly presented to the Commission false or misleading information relating to matters within the purview of the Commission under this Article.
(3) Presented to its students or prospective students false or misleading information relating to its instructional program, to the instructional programs of other institutions or to employment opportunities.
(4) Failed to comply with the provisions of any contract or agreement entered into with a student.
(5) At any time refused to permit authorized representatives of the Commission to inspect the school, or failed to make available to them upon request full information relating to matters within the purview of the Commission under the provisions of this Article or the rules or regulations promulgated thereunder.
(6) Pleaded guilty, entered a plea of nolo contendere or been found guilty of a crime involving moral turpitude in any state or federal court. (1979, 2nd Sess., c. 1193, s. 1; 1983, c. 81, s. 2; 1987, c. 827, s. 1; 2005-395, s. 18; 2019-195, s. 3.)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 4 - Timeshares. › § 93A-39 - Title.

§ 93A-39. Title.
This Article shall be known and may be cited as the "North Carolina Timeshare Act." (1983, c. 814, s. 1; 2021-163, s. 1(c); 2021-192, s. 5(a).)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 4 - Timeshares. › § 93A-42 - Timeshare estates deemed real estate; timeshare uses.

§ 93A-42. Timeshare estates deemed real estate; timeshare uses.
(a) A timeshare estate is deemed to be an interest in real estate and shall be governed by the law of this State relating to real estate.
(b) An owner of a timeshare located in the State may, in accordance with G.S. 47-18, register the timeshare instrument by which the owner acquired the interest and upon such registration shall be entitled to the protection provided by Chapter 47 of the General Statutes for the recordation of other real property instruments. A timeshare instrument transferring or encumbering a timeshare estate shall not be rejected for recordation because of the nature or duration of that estate, provided all other requirements necessary to make an instrument recordable are complied with. An instrument concerning a timeshare use shall not be recorded in the office of the register of deeds in any county in this State.
(c) Unless the timeshare instrument provides otherwise, the developer shall close on the sale of a timeshare estate and record or cause to be recorded a timeshare instrument for timeshare estates located in this State no later than 180 days following the execution of the contract of sale by the purchaser, provided that all payments made by the purchaser have been placed by the developer with an independent escrow agent in accordance with G.S. 93A-45.
(d) Repealed by Session Laws 2021-163, s. 1(c), effective October 6, 2021.
(e) In no event shall the developer be required to close and record a timeshare instrument if the purchaser is in default of the purchaser's obligations under the contract of sale.
(f) Recordation under the provisions of this section of the timeshare instrument shall constitute delivery of that instrument from the developer to the purchaser.
(g) A timeshare use is not an interest in real property and shall be governed by the laws of this State relating to personal property. For each transfer of the legal title to a timeshare use by a developer, the developer shall deliver an instrument evidencing such transfer to the purchaser at closing. Unless the timeshare instrument provides otherwise, the developer shall close on the sale of a timeshare use no later than 180 days following the execution of the contract of sale by the purchaser, provided that all payments made by the purchaser shall be placed by the developer with an independent escrow agent in accordance with G.S. 93A-45. In no event shall the developer be required to close on the sale of a timeshare use if the purchaser is in default of the purchaser's obligations under the contract of sale.
(h) A developer may not sell or close on the sale of any timeshare that would cause the total number of timeshares available for use in the timeshare program to exceed the one-to-one use night to use right ratio. (1983, c. 814, s. 1; 1985, c. 578, ss. 2, 3; 1989, c. 302; 2001-487, s. 23(i); 2011-217, s. 20; 2017-25, s. 1(k); 2021-163, s. 1(c); 2021-192, s. 5(a).)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 4 - Timeshares. › § 93A-42.1 - Construction and validity of declarations adopted prior to the Timeshare Act.

§ 93A-42.1. Construction and validity of declarations adopted prior to the Timeshare Act.
(a) All provisions contained in timeshare declarations adopted and recorded at the appropriate register of deeds office prior to July 1, 1984, are severable.
(b) The rule against perpetuities may not be applied to defeat any provision of timeshare declarations or bylaws adopted and recorded at the appropriate register of deeds office prior to July 1, 1984.
(c) Except as otherwise provided in the timeshare declaration, the board of directors of a timeshare project may, by an affirmative vote of two-thirds of the board, amend a provision within the timeshare declaration, provided that the provision to be changed meets all of the following criteria:
(1) The provision was adopted as part of the original timeshare declaration recorded prior to July 1, 1984.
(2) The provision either converts or provides a mechanism to convert ownership of timeshare units to tenancy in common.
(d) Title or interest in a timeshare project or unit is not rendered unmarketable or otherwise affected by reason of an insubstantial failure of the timeshare declaration to comply with this section. Whether a substantial failure to comply with this section impairs marketability shall be determined by the laws of this State relating to marketability.
(e) This section shall not otherwise impair the ability of the individual timeshare owner's right under the timeshare declaration, bylaws, or the laws of this State to vote to terminate the timeshare project or to amend the declaration to provide for the termination of the timeshare project and interests. (2014-99, s. 1; 2021-163, s. 1(c); 2021-192, s. 5(a).)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 4 - Timeshares. › § 93A-43 - Partition.

§ 93A-43. Partition.
When a timeshare is owned by two or more persons as tenants in common or as joint tenants, either may seek a partition by sale of that interest under Chapter 46A of the General Statutes, but no owner of a timeshare shall maintain a proceeding for partition, whether by actual partition or by partition sale, of the timeshare unit, timeshare project, or timeshare program in which the timeshare is held. (1983, c. 814, s. 1; 2020-23, s. 15; 2021-163, s. 1(c); 2021-192, s. 5(a).)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 4 - Timeshares. › § 93A-46 - Prizes.

§ 93A-46. Prizes.
An advertisement of a timeshare which includes the offer of a prize or other inducement shall fully comply with the provisions of Chapter 75 of the General Statutes. (1983, c. 814, s. 1; 2021-163, s. 1(c); 2021-192, s. 5(a).)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 4 - Timeshares. › § 93A-47 - Timeshare proxies.

§ 93A-47. Timeshare proxies.
No proxy, power of attorney or similar device given by the owner of a timeshare regarding voting in a timeshare owners' association shall exceed one year in duration, but the same may be renewed from year to year. (1983, c. 814, s. 1; 2021-163, s. 1(c); 2021-192, s. 5(a).)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 4 - Timeshares. › § 93A-49 - Service of process on exchange company.

§ 93A-49. Service of process on exchange company.
Any exchange company offering an exchange program to a purchaser shall be deemed to have made an irrevocable appointment of the Commission to receive service of lawful process in any proceeding against the exchange company arising under this Article. (1983, c. 814, s. 1.)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 4 - Timeshares. › § 93A-50 - Securities laws apply.

§ 93A-50. Securities laws apply.
The North Carolina Securities Act, Chapter 78A, shall also apply, in addition to the laws relating to real estate, to timeshares deemed to be investment contracts or to other securities offered with or incident to a timeshare; provided, however, in the event of the applicability of the North Carolina Securities Act, any offer or sale of timeshares registered under this Article shall not be subject to the provisions of G.S. 78A-24 and any real estate broker registered under Article 1 of this Chapter shall not be subject to the provisions of G.S. 78A-36. (1983, c. 814, s. 1; 2000-140, s. 19(b); 2005-395, s. 21; 2021-163, s. 1(c); 2021-192, s. 5(a).)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 4 - Timeshares. › § 93A-51 - Rule-making authority.

§ 93A-51. Rule-making authority.
The Commission shall have the authority to adopt rules and regulations that are not inconsistent with the provisions of this Article and the General Statutes of North Carolina. The Commission may prescribe forms and procedures for submitting information to the Commission. (1983, c. 814, s. 1.)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 4 - Timeshares. › § 93A-53 - Register of applicants; roster of registrants; financial report to Secretary of State.

§ 93A-53. Register of applicants; roster of registrants; financial report to Secretary of State.
(a) The Executive Director of the Commission shall keep a register of all applicants for certificates of registration, showing for each the date of application, name, business address, and whether the certificate was granted or refused.
(b) The Executive Director of the Commission shall also keep a current roster showing the name and address of all timeshare programs registered with the Commission. The roster shall be kept on file in the office of the Commission and be open to public inspection.
(c) The Commission shall include a copy of the roster of timeshare programs current on the preceding June 30 and a statement of the income received by the Commission in connection with the registration of timeshare programs during the fiscal year ending on June 30 with the report required by G.S. 93B-2. (1983, c. 814, s. 1; 2011-217, s. 21; 2021-163, s. 1(c); 2021-192, s. 5(a).)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 4 - Timeshares. › § 93A-55 - Private enforcement.

§ 93A-55. Private enforcement.
The provisions of the Article shall not be construed to limit in any manner the right of a purchaser, owner, or other person injured by a violation of this Article to bring a private action. (1983, c. 814, s. 1; 2021-163, s. 1(c); 2021-192, s. 5(a).)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 4 - Timeshares. › § 93A-56 - Penalty for violation of Article.

§ 93A-56. Penalty for violation of Article.
Except as specifically provided elsewhere in this Article, any person violating the provisions of this Article shall be guilty of a Class 1 misdemeanor. (1983, c. 814, s. 1; 1985, c. 578, s. 11; 1987, c. 516, s. 19; 1993, c. 539, s. 658; 1994, Ex. Sess., c. 24, s. 14(c); 2021-163, s. 1(c); 2021-192, s. 5(a).)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 4 - Timeshares. › § 93A-57 - Release of liens or subordination and notice to creditors instrument.

§ 93A-57. Release of liens or subordination and notice to creditors instrument.
(a) Prior to any closing, the developer shall record a release of all liens or encumbrances affecting the timeshare being acquired by the purchaser or the timeshare property or comply with one of the following:
(1) If there are any interest holders in the timeshare or timeshare property, the developer and any interest holders must execute and record a subordination and notice to creditors instrument in the jurisdiction in which the timeshare or timeshare program is situated. The subordination and notice to creditors instrument shall contain the following:
a. Language sufficient to provide subsequent creditors of the developer and interest holder with notice of the existence of the timeshare program and of the rights of owners in order to protect the interests of the owners from any claims of subsequent creditors.
b. A statement that the instrument shall be effective as between the owner and the developer and interest holder despite any bankruptcy proceedings involving the developer.
c. A statement that so long as an owner remains in good standing with respect to the owner's obligations under the timeshare declaration, then the interest holder will honor all rights of the owner as reflected in the timeshare declaration.
(2) If there are any interest holders in the timeshare or the timeshare property, the developer must make alternative arrangements that are adequate to protect the rights of the owners of the timeshares and timeshare property, provided that any alternative arrangement is approved by the Commission.
(b) Unless a timeshare owner or a timeshare owner who [is] the owner's predecessor in title agree[s] otherwise with the lienor, if a lien other than a mortgage or deed of trust becomes effective against more than one timeshare in a timeshare program, any timeshare owner is entitled to a release of the owner's timeshare from a lien upon payment of the amount of the lien attributable to the owner's timeshare. The amount of the payment must be proportionate to the ratio that the owner's liability bears to the liabilities of all owners whose interests are subject to the lien. Upon receipt of payment, the lien holder shall promptly deliver to the owner a release of the lien covering that timeshare. After payment, the managing entity may not assess or have a lien against that timeshare for any portion of the expenses incurred in connection with that lien. (1983, c. 814, s. 1; 1985, c. 578, s. 12; 2021-163, s. 1(c); 2021-192, s. 5(a).)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 4 - Timeshares. › § 93A-58 - Registrar required; criminal penalties; program broker.

§ 93A-58. Registrar required; criminal penalties; program broker.
(a) Every developer shall, by affidavit filed with the Commission, designate a natural person to serve as timeshare registrar for its registered timeshare program. The timeshare registrar shall be responsible for the recordation of timeshare instruments and the release of liens required by G.S. 93A-42(c) and G.S. 93A-57(a). A developer may, from time to time, change the designated timeshare registrar by proper filing with the Commission and by otherwise complying with this subsection. No sales or offers to sell shall be made until the registrar is designated for a timeshare program.
(a1) The timeshare registrar has the duty to ensure that the provisions of this Article are complied with in a timeshare program for which the person is the timeshare registrar. No timeshare registrar shall record a timeshare instrument except as provided by this Article.
(b) A timeshare registrar is guilty of a Class I felony if the timeshare registrar knowingly or recklessly fails to record or cause to be recorded a timeshare instrument as required by this Article. A person responsible as general partner, corporate officer, joint venturer, or sole proprietor of the developer of a timeshare project is guilty of a Class I felony if the person intentionally allows the offering for sale or the sale of a timeshare to purchasers without first designating a timeshare registrar.
(c) The developer shall designate for each timeshare program and other locations where timeshares are sold or offered for sale a program broker. The program broker shall act as supervising broker for all timeshare salespersons at the timeshare program or other location and shall directly, personally, and actively supervise all such persons at the timeshare program or other locations in a manner to reasonably ensure that the sale of timeshares will be conducted in accordance with the provisions of this Chapter. (1985, c. 578, s. 13; 1987, c. 516, s. 20; 1993, c. 539, s. 1289; 1994, Ex. Sess., c. 24, s. 14(c); 2000-140, s. 19(b); 2001-487, s. 23(m); 2005-395, s. 24; 2021-163, s. 1(c); 2021-192, s. 5(a).)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 4 - Timeshares. › § 93A-59 - Preservation of an owner's claims and defenses.

§ 93A-59. Preservation of an owner's claims and defenses.
(a) For one year following the execution of an instrument of indebtedness for the purchase of a timeshare use, the owner may assert against the developer, assignee of the developer, or other holder of the instrument of indebtedness, any claims or defenses available against the developer, and the owner may not waive the right to assert these claims or defenses in connection with a timeshare purchase. Any recovery by the owner on a claim asserted against an assignee of the developer or other holder of the instrument of indebtedness shall not exceed the amount paid by the developer under the instrument. A holder shall be the person or entity with the rights of a holder as set forth in G.S. 25-3-301.
(b) Every instrument of indebtedness for the purchase of a timeshare shall set forth in conspicuous type the following provision in substantially the following form:
"NOTICE
FOR A PERIOD OF ONE YEAR FOLLOWING THE EXECUTION OF THIS INSTRUMENT OF INDEBTEDNESS, ANY HOLDER OF THIS INSTRUMENT OF INDEBTEDNESS IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE OWNER COULD ASSERT AGAINST THE DEVELOPER OF THE TIMESHARE. RECOVERY BY THE OWNER SHALL NOT EXCEED AMOUNTS PAID BY THE OWNER UNDER THIS INSTRUMENT." (1985, c. 578, s. 13; 2021-163, s. 1(c); 2021-192, s. 5(a).)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 4 - Timeshares. › § 93A-60 - Substantial compliance.

§ 93A-60. Substantial compliance.
If a developer or managing entity has otherwise substantially complied with this Article, any nonmaterial errors or omissions shall not be the basis for any claims or defenses asserted by the purchaser; provided, however, that for purposes of this section, the developer or managing entity shall have the burden of proof. (2021-163, s. 1(c); 2021-192, s. 5(a).)
2023 North Carolina General Statutes › Chapter 93A - Real Estate License Law › Article 4 - Timeshares. › § 93A-66 - Record keeping by resale service providers, transfer service providers, and lead dealers.

§ 93A-66. Record keeping by resale service providers, transfer service providers, and lead dealers.
Resale service providers, lead dealers, and transfer service providers shall maintain the following records for a period of three years from the date each piece of personal contact information is obtained:
(1) A copy of all pieces of personal contact information obtained.
(2) Resale service providers, transfer service providers, and lead dealers who receive personal contact information from other lead dealers shall maintain records disclosing:
a. The full name, address, and telephone number of the lead dealer from which the personal contact information was obtained.
b. The date, time, and place of the transaction at which the personal contact information was obtained, along with the amount of consideration paid and a signed receipt from the lead dealer or copy of a canceled check.
(3) Resale service providers, transfer service providers, and lead dealers who obtained personal contact information by directly researching and assembling such information and did not obtain such information from a lead dealer shall maintain records disclosing:
a. A complete written description of the source from which each piece of personal contact information was obtained.
b. The methodologies used for researching and assembling the personal contact information.
c. The date, time, and place at which the piece of personal contact information was obtained.
d. The full name, address, and telephone number of each person who performed the work to obtain the piece of personal contact information. (2021-163, s. 1(c); 2021-192, s. 5(a).)