Section 36: Dispositions or offerings for which public offering statement or other materials not required

164 words·~1 min read·/ma/part-ii/title-i/chapter-183b/36

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Section 36.

(a)Sections thirty-six to fifty-five, inclusive, shall apply 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 section forty-two 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 cancelled 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 the commonwealth pursuant to a contract executed wholly outside the commonwealth, if there has been no offering within the commonwealth;

(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.