reglab/statecodes huggingface dataset:
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article I - General Provisions › Section 34-41-1.05. - Unconscionable agreement or term of contract.

§ 34-41-1.05. Unconscionable agreement or term of contract.
(a)
The court, upon finding as a matter of law that a contract or contract clause was unconscionable at the time the contract was made, may refuse to enforce the contract, enforce the remainder of the contract without the unconscionable clause, or limit the application of any unconscionable clause in order to avoid an unconscionable result.
(b)
Whenever it is claimed, or appears to the court, that a contract or any contract clause is or may be unconscionable, the court, in order to aid the court in making the determination, shall afford the parties a reasonable opportunity to present evidence as to:
(1)
The commercial setting of the negotiations;
(2)
Whether a party has knowingly taken advantage of the inability of the other party reasonably to protect his or her interests by reason of physical or mental infirmity, illiteracy, or inability to understand the language of the agreement or similar factors;
(3)
The effect and purpose of the contract or clause; and
(4)
If a sale, any gross disparity, at the time of contracting, between the amount charged for the time share and the value of the time share measured by the price at which similar time shares were readily obtainable, but a disparity between the contract price and the value of the time share measured by the price at which a similar time share was readily obtainable in similar transactions does not, of itself, render the contract unconscionable.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article I - General Provisions › Section 34-41-1.06. - Obligation of good faith.

§ 34-41-1.06. Obligation of good faith.
Every contract or duty governed by this chapter imposes an obligation of good faith in its performance or enforcement.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article I - General Provisions › Section 34-41-1.07. - Remedies to be liberally administered.

§ 34-41-1.07. Remedies to be liberally administered.
(a)
The remedies provided by this chapter shall be liberally administered to the end that the aggrieved party is put in as good a position as if the other party had fully performed. However, consequential, special, or punitive damages may not be awarded except as specifically provided in this chapter or by other rule of law.
(b)
Any right or obligation declared by this chapter is enforceable by judicial proceeding.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article I - General Provisions › Section 34-41-1.08. - Supplemental general principles of law applicable.

§ 34-41-1.08. Supplemental general principles of law applicable.
The principles of law and equity, including the law of corporations (and unincorporated associations), the law of real property and the law relative to capacity to contract, principal and agent, eminent domain, estoppel, fraud, misrepresentation, duress, coercion, mistake, receivership, substantial performance, or other validating or invalidating cause supplement the provisions of this chapter, except to the extent inconsistent with this chapter.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article I - General Provisions › Section 34-41-1.09. - Conflicts with other statutes.

§ 34-41-1.09. Conflicts with other statutes.
This chapter shall be the sole law of this state governing the creation and disposition of time shares. In the event of any conflict between this chapter and chapters 36, 36.1 or 38 of this title, the provisions of this chapter prevail, but this chapter does not invalidate or otherwise affect rights or obligations vested under those statutes before May 7, 1984, or the manner of their exercise or enforcement.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article I - General Provisions › Section 34-41-1.11. - Applicability.

§ 34-41-1.11. Applicability.
(a)
This chapter applies to all time shares created in units within this state after May 7, 1984. Sections 34-41-1.03 (Status and Taxation of Time-Share Estates), 34-41-1.08 (Supplemental General Principles of Law Applicable), 34-41-1.05 (Unconscionable Agreement or Term of Contract), 34-41-1.06 (Obligation of Good Faith), 34-41-1.07 (Remedies to be Liberally Administered), 34-41-2.04 (Partition), 34-41-3.02(a)(1) through (9) and (14) through (16) and (b) (Powers of Managing Entity), 34-41-3.07 (Tort and Contract Liability), 34-41-3.11 (Lien for Assessments), 34-41-3.13 (Authority of Trustee), 34-41-4.09 (Liens), 34-41-4.14 (Statute of Limitation for Warranties), and § 34-41-1.02 (Definitions) to the extent necessary in construing any of those sections, apply to all time shares created in units in this state before May 7, 1984, but only with respect to events and circumstances occurring after May 7, 1984. They do not affect the validity of, or rights or obligations created by, pre-existing provisions of any time-share instrument, document transferring an estate or interest in real property, or contract.
(b)
The time-share instrument of any time-share property created before May 7, 1984 may be amended to accomplish any result permitted by this chapter if the amendment is adopted in conformity with applicable law and with the procedures and requirements specified by the instrument. If the amendment grants to any person any rights, powers, or privileges permitted by this chapter, all correlative obligations, liabilities, and restrictions in this chapter also apply to that person.
(c)
This chapter does not apply to time shares in units located outside this state, but the public offering statement provisions (§§ 34-41-4.03 — 34-41-4.06 and 34-41-4.08) apply to all dispositions thereof signed in this state by any party unless exempt under § 34-41-4.01(b) and the agency regulation provisions under Article V of this chapter apply to any offering thereof in this state and the purchaser of units located outside of this state shall have the option of requiring the escrow of deposits pursuant to § 34-41-4.08 or may rescind such sales contract pursuant to § 34-41-4.06.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article I - General Provisions › Section 34-41-1.12. - Severability.

§ 34-41-1.12. Severability.
If any provision of this chapter or the application thereof to any person or circumstances is held invalid, the invalidity does not affect other provisions or applications of this chapter which can be given effect without the invalid provisions or application, and to this end the provisions of this chapter are severable.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article II - Creation, Termination and Incidents of Time Shares › Section 34-41-2.01. - Time shares in projects.

§ 34-41-2.01. Time shares in projects.
(a)
If all of the documents constituting the project instrument are recorded after May 7, 1984, time shares may not be created in any unit in a project unless expressly permitted by the project instrument. No amendment to a project instrument which is recorded after May 7, 1984 may permit the creation of time shares unless the owners of at least eighty percent (80%) of the units, or any larger majority required by the project instrument or by law, consent to the amendment.
(b)
A municipality by and through adoption of its zoning ordinance shall be empowered to designate zones in which time-share ownership of property is permitted by right or by special exception, provided however that time share ownership of property shall be permitted in zones where hotels-motels are permitted by right or by special exception. In the event the municipality does not adopt an ordinance designating zones in which time share ownership of property is permitted by right or by special exception, this section shall not be construed to require a designation of a time share zone prior to development, nor impose any requirement upon a time share property which the zoning code of the respective community would not impose upon a physically identical development under a different form of ownership.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article II - Creation, Termination and Incidents of Time Shares › Section 34-41-2.02. - Time-share instrument.

§ 34-41-2.02. Time-share instrument.
(a)
Except as provided in subsection (b), more than twelve (12) time shares may be created in a single time-share property only by a time-share instrument containing or providing for the following matters:
(1)
A legally sufficient description of the time-share property and the name or other identification of the project, if any, within which it is situated;
(2)
The name of the municipalities in which the time-share property is situated;
(3)
Identification of time periods by letter, name, number or combination thereof;
(4)
The time-share expense liability and any voting rights assigned to each time share;
(5)
If additional units may become part of the time-share property, the method of doing so and the formula for allocation and reallocation of the time-share expense liabilities and any votes;
(6)
The method of designating the insurance trustee required under § 34-41-3.08;
(7)
Allocation of time for maintenance of the time-share units;
(8)
Provisions for management by a managing entity or by the time-share owners;
(9)
If all of the time shares are time-share licenses, the rights a licensee shall have, if his or her license is terminated, with respect to any of the property his or her license affects, or a statement that he or she shall not have any rights; and
(10)
Any requirements for amendments of the time-share instrument.
(b)
If a time-share license applies to units in more than one time-share property, the time-share instrument creating the license need not contain or provide for the matters specified in subdivisions (1) — (7) of subsection (a).
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article II - Creation, Termination and Incidents of Time Shares › Section 34-41-2.03. - Allocation of time-share expense liability and voting rights.

§ 34-41-2.03. Allocation of time-share expense liability and voting rights.
(a)
The time-share instrument must state the amount of or formula used to determine any time-share expense liability allocated to each time share.
(b)
If the time-share instrument provides for voting, it must allocate votes to each time-share unit and to each time-share estate and may allocate votes to any time-share license. It may not allocate any votes to any other property or to any person who is not a time-share owner. The number of votes allocated to each time share must be equal for all time shares or proportionate to each time share’s value as estimated by the developer, time-share expense liability, or unit size. The time-share instrument may specify some matters as to which the votes must be equal and others as to which they must be proportionate.
(c)
Except as otherwise provided pursuant to § 34-41-2.02(a)(5), the votes and time-share expense liability allocated to a time share may not be altered without the unanimous consent of all time-share owners entitled to vote and voting at a meeting in which at least eighty percent (80%), or in an initiative or referendum in which at least eighty percent (80%), of the votes allocated to time shares are cast.
(d)
Except for minor variations due to rounding, the sum of the time-share expense liabilities assigned to all time shares must equal one if stated as fractions or one hundred percent (100%) if stated as percentages. In the event of discrepancy between the time-share liability or votes allocated to a time share and the result derived from the application of the formulas, the allocated time-share expense liability of vote prevails.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article II - Creation, Termination and Incidents of Time Shares › Section 34-41-2.04. - Partition.

§ 34-41-2.04. Partition.
No action for partition of a time-share unit may be maintained except as permitted by the time-share instrument or by § 34-41-2.05(c)(2).
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article II - Creation, Termination and Incidents of Time Shares › Section 34-41-2.06. - Use for sales purposes.

§ 34-41-2.06. Use for sales purposes.
A developer may maintain sales offices, management offices, and models in the time-share property only if the time-share instrument so provides and specifies the rights of a developer with regard to the number, size, location, and relocation thereof, and he or she may maintain signs on the property advertising the property. The provisions of this section are subject to the provisions of other state law, local ordinances, and the project instruments.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article II - Creation, Termination and Incidents of Time Shares › Section 34-41-2.07. - Rights of secured lenders.

§ 34-41-2.07. Rights of secured lenders.
The time-share instrument may require that all or a specified number or percentage of the mortgagees or beneficiaries of deeds of trust encumbering units or time shares approve specified actions of the unit owners, time-share owners, developer, or managing entity as a condition to the effectiveness of those actions, but no requirement for approval may operate to (i) deny or delegate control over the general administrative affairs of any association by the unit owners, time-share owners, or both, or their elected representatives or (ii) prevent any association from commencing, intervening in, or settling any litigation or proceeding, or receiving and distributing any insurance proceeds pursuant to § 34-41-3.08.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article II - Creation, Termination and Incidents of Time Shares › Section 34-41-2.08. - Transfer of time-share licenses.

§ 34-41-2.08. Transfer of time-share licenses.
The managing entity shall maintain records of the names and addresses of the owners of time-share licenses. If the number of licenses in the time-share property is more than twelve (12), no transfer of a time-share license is effective against persons without knowledge thereof unless and until entered in those records.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article III - Management of the Time-Share Property › Section 34-41-3.01. - Managing entity.

§ 34-41-3.01. Managing entity.
(a)
If the number of time shares in a time-share property is more than twelve (12), the developer, before the first transfer of a time-share, must create or provide a managing entity to manage the time-share property. The managing entity may be (i) a manager, who may be the developer, or, (ii) an association, which must be a profit or non-profit corporation or an unincorporated association, the membership of which must at all times consist exclusively of all the time-share owners. If the time-share property is part of a project containing time-share units and other units, the manager may be the entity that governs the project. If the number of time shares in the time-share property is twelve (12) or fewer and there is no managing entity, the time-share owners may form an association meeting the requirements specified above.
(b)
In the absence of a managing entity required by this section, a court upon application of a party in interest, including a time-share owner or a lienholder, may appoint and prescribe the powers of a managing entity.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article III - Management of the Time-Share Property › Section 34-41-3.03. - Powers and duties in absence of managing entity.

§ 34-41-3.03. Powers and duties in absence of managing entity.
The developer has the duties imposed on the managing entity by this chapter and the powers listed in § 34-41-3.02(a)(1) — (11) until a managing entity is provided or the developer and his or her affiliates own no estate or interest in the time-share property. Thereafter, if there is no managing entity and the number of time shares in the time-share property is twelve (12) or fewer, the time-share owners have those powers subject to any provisions of the time-share instrument relating to the manner of the exercise thereof and have the responsibilities and liabilities of an association for the purposes of §§ 34-41-3.06 and 34-41-3.07. To the extent that the time-share instrument is silent with respect to the manner of exercise of any of those powers, the time-share owners may exercise them only by unanimous action.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article III - Management of the Time-Share Property › Section 34-41-3.05. - Termination of contracts and leases of developer.

§ 34-41-3.05. Termination of contracts and leases of developer.
(a)
If, before the developer ceases to appoint, control, or serve as the managing entity, there is entered into (i) any management contract, employment contract, or lease of recreational or parking areas or facilities, (ii) any other contract or lease between the managing entity and a developer or an affiliate of a developer, or (iii) any contract or lease that is not bona fide or was unconscionable to the time-share owners at the time entered into under the circumstances then prevailing, the contract may be terminated without penalty by the association or the time-share owners at any time after the developer ceases to appoint, control, or serve as the managing entity, upon not less than ninety (90) days’ notice to the other party. This subsection does not apply to any lease the termination of which would terminate the time-share property or reduce its size, unless the real estate subject to that lease was included in the property for the purpose of avoiding the right to terminate a lease under this section.
(b)
If there is no association, any time-share owner individually or on behalf of the class of time-share owners may maintain an action for appropriate relief.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article III - Management of the Time-Share Property › Section 34-41-3.06. - Upkeep of units.

§ 34-41-3.06. Upkeep of units.
Except to the extent otherwise provided by the time-share instrument, the managing entity is responsible for maintenance, repair, and replacement of the time-share units and any personal property available for use by time-share owners in conjunction therewith, other than personal property separately owned by a time-share owner. Each time-share owner shall afford access through his or her time-share unit reasonably necessary for those purposes, but if damage is inflicted on a time-share unit through which access is taken, the managing entity is responsible for its prompt repair. Subject to the provisions of law, a time-share instrument and other provisions of the time-share owner may not alter or change the appearance of a time-share unit without the consent of the managing entity.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article III - Management of the Time-Share Property › Section 34-41-3.07. - Tort and contract liability.

§ 34-41-3.07. Tort and contract liability.
(a)
A time-share owner is personally liable for his or her own acts and omissions and those of his or her employees and agents other than the managing entity.
(b)
An action may not be maintained against a time-share owner, nor is a time-share owner precluded from maintaining an action, merely because he or she owns a time share or is an officer, director, or member of the association.
(c)
An action in tort alleging a wrong done by a developer, a managing entity selected by the developer or his or her appointees, or an agent or employee of either, in connection with any portion of the property which the developer or the managing entity has the responsibility to maintain, may not be maintained against the association or any time-share owner other than a developer. Other actions in tort alleging a wrong done by an association or by an agent or employee of the association or an action arising from a contract made by or on behalf of the association may be maintained only against the association. If the tort or breach of contract occurred during any period of developer control, the developer is subject to liability for all unreimbursed losses suffered by the association or time-share owners as a result, including costs and reasonable attorney’s fees. The operation of any statute of limitations affecting the right of action of the association or time-share owners under this section is tolled until the period of developer control terminates. A time-share owner is not precluded from maintaining an action contemplated by this subsection because he or she is a time-share owner or a member or officer of the association.
(d)
A judgment for money against an association if recorded in the office of land evidence records in the municipality where the land is located, is a lien against all of the time shares, but no other property of a time-share owner is subject to the claims of creditors of the association.
(e)
A judgment against the association must be indexed in the name of the association.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article III - Management of the Time-Share Property › Section 34-41-3.09. - Surplus funds.

§ 34-41-3.09. Surplus funds.
Unless otherwise provided in the time-share instrument, any surplus funds derived from the time-share owners or from property belonging to them or their association and held by a managing entity remaining after payment of or provision for time-share expenses and any pre-payment of reserves must be paid to the time-share owners in proportion to their time-share expense liabilities or credited to them to reduce their future time-share expense assessments.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article III - Management of the Time-Share Property › Section 34-41-3.10. - Assessments for time-share expenses.

§ 34-41-3.10. Assessments for time-share expenses.
(a)
Until time-share expense assessments are made against the time-share owners, the developer shall pay all time-share expenses. After any time-share expense assessment has been made against the time-share owners, time-share expense assessments must be made at least annually, based on a budget adopted at least annually by the managing entity.
(b)
Except for assessments under subsections (c), (d) and (e), all time-share expenses must be assessed against all the time shares in accordance with the allocations set forth in the time-share instrument pursuant to § 34-41-2.03(a). Any past due assessment or installment thereof bears interest at the rate established by the managing entity or time-share instrument not exceeding the highest legal percent per year.
(c)
To the extent required by the time-share instrument any time-share expense benefiting fewer than all of the time-share owners must be assessed exclusively against the time-share owners benefited.
(d)
Assessments to pay a judgment against the association (§ 34-41-3.07) may be made only against the time shares in the time-share property at the time the judgment was entered, in proportion to their time-share expense liabilities.
(e)
If any time-share expense is caused by the misconduct of any time-share owner, the association may assess that expense exclusively against his or her time share.
(f)
If time-share expense liabilities are reallocated, time-share expense assessments and any installment thereof not yet due must be recalculated in accordance with the reallocated time-share expense liabilities.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article III - Management of the Time-Share Property › Section 34-41-3.11. - Lien for assessments.

§ 34-41-3.11. Lien for assessments.
(a)
A person who has a duty to make assessments for time-share expenses has a lien on a time share for any assessment levied against that time share or fines imposed against its owner from the time the assessment or fine becomes due. The lien may be foreclosed in like manner as a mortgage on real estate (or a power of sale under chapter 27 of this title), or, in the case of a time-share license, under the Uniform Commercial Code, title 6A. Unless the time-share instrument otherwise provides, fees, charges, late charges, fines, and interest charged pursuant to § 34-41-3.02(8) and (9) are enforceable as assessments under this section. If an assessment is payable in installments the full amount of the assessment is a lien from the time the first installment thereof becomes due.
(b)(1)
A lien under this section is prior to all other liens and encumbrances on a time share except:
(i)
Liens and encumbrances recorded before the recordation of the time-share instrument;
(ii)
Mortgages and deeds of trust on the time share securing first mortgage holders and recorded before the due date of the assessment or the due date of the first installment payable on the assessment;
(iii)
Liens for real estate taxes and other governmental assessments or charges against the time share; and
(iv)
Liens securing assessments or charges made by a person managing a project of which the time-share property is a part.
(2)
To the extent of the time-share expense assessments made under § 34-41-3.10(b) become due during the six (6) months immediately preceding institution of an action to enforce the lien, the lien is also prior to the mortgages and deeds of trust described in subdivision (1)(ii) of this subsection. This subsection does not affect the priority of mechanics’ or materialmen’s liens.
(c)
The lien is perfected upon recordation of a claim of lien in the municipality in which the time-share unit is situated.
(d)
A lien for unpaid assessments is extinguished unless proceedings to enforce the lien are instituted within three (3) years after the assessments become payable.
(e)
This section does not prohibit actions or suits to recover sums for which subsection (a) creates a lien or preclude resort to any contractual or other remedy permitted by law.
(f)
A judgment or decree in any action or suit brought under this section must include costs and reasonable attorney’s fees for the prevailing party.
(g)
A person who has a duty to make assessments for time-share expenses shall furnish to a time-share owner upon written request a recordable statement setting forth the amount of unpaid assessments currently levied against his or her time share. The statement must be furnished within ten (10) business days after receipt of the request and is binding in favor of persons reasonably relying thereon.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article III - Management of the Time-Share Property › Section 34-41-3.12. - Financial records.

§ 34-41-3.12. Financial records.
A person who has a duty to make time-share expense assessments shall keep financial records sufficiently detailed to enable him or her to comply with § 34-41-4.07. All financial and other records must be made reasonably available for examination by any time-share owner or his or her authorized agent.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article III - Management of the Time-Share Property › Section 34-41-3.13. - Authority of trustee.

§ 34-41-3.13. Authority of trustee.
With respect to a third person dealing with a trustee, under § 34-41-2.05 or § 34-41-3.08, the existence of trust powers and their proper exercise by the trustee may be assumed without inquiry. A third person is not bound to inquire whether the trustee has power to act as trustee or is properly exercising trust powers, and a third person without actual knowledge that the trustee is exceeding or improperly exercising his or her powers is fully protected in dealing with the trustee as if he or she possessed and were properly exercising the power he or she purports to exercise. A third person is not bound to assure the proper application of trust assets paid or delivered to the trustee in his or her capacity as trustee.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article III - Management of the Time-Share Property › Section 34-41-3.15. - Direct initiative by owners.

§ 34-41-3.15. Direct initiative by owners.
(a)
The owners may amend the project instrument or any unrecorded document governing the project, or approve or disapprove any proposed expenditure, in the manner provided by this section in addition to any manner permitted by other law or by the instrument or document.
(b)
Any owner may deliver to the managing entity a petition containing the language of any proposed amendment and signed by owners of at least one time share or other state or interest in each of a number of units to which at least thirty-three and one-third percent (331/3%) of the votes are allocated, or any smaller percentage specified by the document to be amended. The owner delivering the petition may attach to it a letter of not more than two (2) pages to be mailed with the ballots. Within ten (10) days after receiving the petition, the managing entity shall mail to each owner a ballot setting forth the language of the petition and affording an opportunity to indicate a preference between approval and disapproval of the proposal, together with a copy of any letter of not more than two (2) pages attached by the owner who delivered the petition. The ballot may also be accompanied by a letter of not more than two (2) pages from the managing entity recommending approval or disapproval of the proposal.
(c)
On the date specified pursuant to § 34-41-3.14(c)(2), the managing entity shall examine the ballots that have been returned and calculate the vote accordingly. A signature on the petition must be treated for the purpose of § 34-41-3.14(f) as a ballot from the signer indicating approval of the proposed amendment. A simple majority of the votes counted suffices for the adoption of the proposal unless other law or the document to be amended specifies a larger majority or, in the case of a proposed expenditure, the project instruments specify a larger majority not exceeding sixty-six and two-thirds percent (662/3%). No document may specify more than a simple majority for any proposal the managing entity could have effected unilaterally. No proposal may be adopted by an initiative in which the ballots favoring the proposal represent less than ten percent (10%) of the votes allocated to all owners.
(d)
A proposal adopted pursuant to this section may not be repealed or modified within three (3) years except by another initiative pursuant to this section. Thereafter, the managing entity may not repeal or modify the result without the approval of the owners in a referendum. If the project instrument permits the managing entity to initiate a referendum for that purpose, no referendum may be initiated for that purpose more often than once every three (3) years.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article III - Management of the Time-Share Property › Section 34-41-3.16. - Referendum of owners.

§ 34-41-3.16. Referendum of owners.
(a)
No amendment to the project instrument may be adopted except pursuant to this section or § 34-41-3.15. The project instrument may specify other matters to be determined by referendum of the owners and may permit the managing entity to select matters to be determined in that manner.
(b)
Whenever an amendment to a project instrument proposed by the managing entity, or other matter, is to be determined by referendum, the managing entity shall prepare and, not less than thirty (30) days or more than one hundred eighty (180) days before the votes are to be counted, shall mail to each owner a ballot stating each matter to be determined and affording the opportunity to vote “yes” or “no” on each matter. The ballot may be accompanied by a letter from the managing entity recommending a particular decision.
(c)
On the date specified pursuant to § 34-41-3.14(c)(2), the managing entity shall examine the ballots and calculate the vote accordingly. A simple majority of the votes counted determines each matter in question unless the project instrument specifies a larger majority, but no matter may be determined by referendum unless the ballots favoring the majority decision represent at least ten percent (10%) of the votes allocated to all owners.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article IV - Protection of Purchasers › Section 34-41-4.01. - Applicability — Exemptions.

§ 34-41-4.01. Applicability — Exemptions.
(a)
This Article applies to all time shares subject to this chapter except as provided in subsection (b).
(b)
Neither a public offering statement nor the materials required by § 34-41-4.07 (Resale of Time Shares) need be prepared or delivered in the case of:
(1)
A gratuitous disposition of a time share;
(2)
A disposition pursuant to court order;
(3)
A disposition by a government or governmental agency;
(4)
A disposition by foreclosure or deed in lieu of foreclosure;
(5)
A disposition that may be canceled at any time and for any reason by the purchaser without penalty;
(6)
A disposition of a time share in a unit situated wholly outside this state pursuant to a contract executed wholly outside this state, if there has been no offering within this state;
(7)
An offering by a developer of time shares in no more than one time-share unit at any one time; or
(8)
A disposition of a time-share property or all time shares therein to one purchaser.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article IV - Protection of Purchasers › Section 34-41-4.02. - Liability for public offering statement requirements.

§ 34-41-4.02. Liability for public offering statement requirements.
(a)
Except as provided in subsection (b), a developer, prior to the offering of any interest in a unit to the public, shall prepare a public offering statement conforming to the requirements of §§ 34-41-4.03, 34-41-4.04 and 34-41-4.05.
(b)
A developer may transfer responsibility for preparation of all or a part of the public offering statement to a successor developer (§ 34-41-3.04) or to a person in the business of selling real estate who intends to offer time shares in the time-share property for his or her own account. In the event of any such transfer, the transferor shall provide the transferee with any information necessary to enable the transferee to fulfill the requirements of subsection (a).
(c)
Any developer or other person in the business of selling real estate who offers a time share for his or her own account to a purchaser shall deliver a public offering statement in the manner prescribed in § 34-41-4.06(a). The person who prepared all or a part of the public offering statement is liable under §§ 34-41-4.06, 34-41-4.15, 34-41-5.05 and 34-41-5.06 for any false or misleading statement set forth therein or for any omission of material fact therefrom with respect to that portion of the public offering statement which he or she prepared. If a developer did not prepare any part of a public offering statement that he or she delivers, he or she is not liable for any false or misleading statement set forth therein or for any omission of material fact therefrom unless he or she had actual knowledge of the statement or omission or, in the exercise of reasonable care, should have known of the statement or omission.
(d)
If a time-share property is part of any other real estate regime in connection with the sale of which the delivery of a public offering statement is required under the laws of this state, a single public offering statement conforming to the requirements of §§ 34-41-4.03, 34-41-4.04 and 34-41-4.05 as those requirements relate to all real estate regimes in which the time-share property is located, and to any other requirements imposed under the laws of this state, may be prepared and delivered in lieu of providing two (2) or more public offering statements.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article IV - Protection of Purchasers › Section 34-41-4.04. - Public offering statement — Conversion building.

§ 34-41-4.04. Public offering statement — Conversion building.
(a)
If a conversion building that includes or is to include one or more time-share units is more than ten (10) years old and the developer or any affiliates of the developer own or control more than fifty percent (50%) of all units in the project, the public offering statement must contain, in addition to the information required by § 34-41-4.03:
(1)
A statement by the developer, based on a report prepared by an independent registered architect or engineer, describing the present condition of all structural components and mechanical and electrical installations material to the use and enjoyment of the time-share units;
(2)
A statement by the developer of the expected useful life of each item reported on in subdivision (a)(1) or a statement that no representations are made in that regard; and
(3)
A list of any outstanding notices of uncured violations of building code or other municipal regulations, together with the estimated cost of curing those violations.
(b)
This section applies only to units in which use as a dwelling or for recreational purposes, or both, is permissible.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article IV - Protection of Purchasers › Section 34-41-4.05. - Public offering statement — Time-share securities.

§ 34-41-4.05. Public offering statement — Time-share securities.
If a time-share is currently registered with the securities and exchange commission of the United States, a developer satisfies all requirements relating to the preparation of a public offering statement of this chapter if he or she delivers to the purchaser (and files with the agency) a copy of the public offering statement filed with the securities and exchange commission. (A time share is not a security under the provisions of chapter 11 of title 7 entitled “Sale of Securities.”)
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article IV - Protection of Purchasers › Section 34-41-4.06. - Purchaser’s right to cancel.

§ 34-41-4.06. Purchaser’s right to cancel.
(a)
A purchaser has the right to cancel the contract until midnight of the fifth (5th) business day (specifically excluding therefrom Saturdays, Sundays and legal holidays) following whichever of the following days occurs later:
(i)
The execution date; or
(ii)
The day on which the purchaser received the last of all documents required to be provided to him or her.
This right of cancellation may not be waived by any purchaser or by any other person on behalf of the purchaser. Furthermore, no closing may occur until the cancellation period of the time-share purchaser has expired. Any attempt to obtain a waiver of the cancellation right of the time-share purchaser, or to hold a closing prior to the expiration of the cancellation period, is unlawful and such closing is voidable at the option of the purchaser for a period of one (1) year after the expiration of the cancellation period.
(b)
Any notice of cancellation shall be considered given on the date postmarked if mailed, or when transmitted from the place or origin if telegraphed, so long as the notice is actually received by the developer or escrow agent. If given by means of a writing transmitted other than by mail or telegraph, the notice of cancellation shall be considered given at the time of delivery at the place of business of the developer.
(c)
In the event of a timely preclosing cancellation, the developer shall honor the right of any purchaser to cancel the contract which granted the time-share purchaser rights in and to the plan. Upon such cancellation, the developer shall refund to the purchaser the total amount of all payments made by the purchaser under the contract, reduced by the proportion of any contract benefits the purchaser has actually received under the contract prior to the effective date of the cancellation. Such refund shall be made within twenty (20) days of demand therefore by the purchaser or within five (5) days after receipt of funds from the purchaser’s cleared check, whichever is later.
History of Section.
P.L. 1984, ch. 141, § 2; P.L. 2005, ch. 141, § 1; P.L. 2005, ch. 221, § 1.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article IV - Protection of Purchasers › Section 34-41-4.07. - Resales of time shares.

§ 34-41-4.07. Resales of time shares.
(a)
Except in the case of a sale where delivery of a public offering statement is required, or unless exempt under § 34-41-4.01(b), a seller of a time share shall furnish to the purchaser before execution of any contract for the sale, or otherwise before the transfer of title, a copy of the time-share instrument (other than any plats or plans) and a certificate containing:
(1)
A statement disclosing the effect on the proposed transfer of any right of first refusal or other restraint on transfer of the time share or any portion thereof;
(2)
A statement setting forth the amount of the periodic time-share expense liability and any unpaid time-share expense or special assessment or other sums currently due and payable from the seller;
(3)
A statement of any other fees payable by time-share owners; and
(4)
A statement of any judgments or other matters that are or may become liens against the time share or the time-share unit and the status of any pending suits that may result in those liens.
(b)
A managing entity, within ten (10) days after a request by a time-share owner, shall furnish a certificate containing the information necessary to enable the time-share owner to comply with this section. A time-share owner providing a certificate pursuant to subsection (a) is not liable to the purchaser for any erroneous information provided by the managing entity and included in the certificate, other than for judgment liens against the time share or the time-share unit.
(c)
A purchaser is not liable for any unpaid time-share expense liability or fee greater than the amount set forth in a certificate prepared by a managing entity. A time-share owner is not liable to a purchaser for the failure or delay of a managing entity to provide the certificate in a timely manner, but the purchase contract is voidable by the purchaser until the certificate has been provided and for five (5) days thereafter or until transfer, whichever first occurs.
History of Section.
P.L. 1984, ch. 141, § 2.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article IV - Protection of Purchasers › Section 34-41-4.08. - Deposits.

§ 34-41-4.08. Deposits.
Any deposit made in connection with the purchase or reservation in this state of a time share from a person required to deliver a public offering statement pursuant to § 34-41-4.02(c) must be placed in escrow, either in this state or in the state where the time-share project is located, in an account designated solely for that purpose, by a licensed title insurance company, an attorney, a licensed real estate broker, an independent bonded escrow company, or any institution whose accounts are insured until:
(1)
Delivered to the developer at the time of any final transfer or conveyance of a time-share interest,
(2)
Delivered to the developer because of the purchaser’s default under a contract to purchase the time share,
(3)
Refunded to the purchaser,
(4)
Delivered to the developer in accordance with § 34-41-5.03(c)(5), or
(5)
Delivered to the developer of substantially completed units as defined in § 34-41-5.03(a), after the expiration of the time for rescission or any later date specified in the contract to purchase the time share.
History of Section.
P.L. 1984, ch. 141, § 2; P.L. 1989, ch. 542, § 86.
2023 Rhode Island General Laws › Title 34 - Property › Chapter 34-41 - Rhode Island Real Estate Time-Share Act › Article IV - Protection of Purchasers › Section 34-41-4.09. - Liens.

§ 34-41-4.09. Liens.
(a)
In the case of a sale of a time share where delivery of a public offering statement is required pursuant to § 34-41-4.02(c), a seller shall, before transferring a time share, record or furnish to the purchaser releases of all liens affecting that time share which the purchaser does not expressly agree to take subject to or assume, or shall provide a surety bond or substantiate collateral for or insurance against the lien as provided for liens on real estate in this title.
(b)
If a lien other than a deed of trust or mortgage becomes effective against more than one time-share estate, any time-share owner is entitled to a release of his or her time-share estate from the lien upon payment of his or her proportionate liability for the lien in accordance with time-share expense liability unless he or she or his or her predecessor in interest agreed otherwise with the lienor. After payment, the managing entity may not assess or have a lien against that time-share estate for any portion of the time-share expenses incurred in connection with that lien.
(c)
If a lien is to be foreclosed or enforced against all time shares in a time-share property, service of notice pursuant to § 34-27-4 upon the managing entity, if any, constitutes service thereof upon all the time-share owners for the purposes of foreclosure or enforcement. The lienholder shall also forward promptly, by certified or registered mail, a copy thereof to each time-share owner at his or her last known address. The notice does not suffice for the entry of a deficiency or other personal judgment against any time-share owner.
History of Section.
P.L. 1984, ch. 141, § 2.