76-1738. Registration; exemptions; exception.

253 words·~1 min read·/ne/chapter-76/76-1738

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

No registration with the commission shall be required in the case of:

(1)Any transfer of a time-share interval by any time-share interval owner other than the developer or his or her agent;

(2)Any 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 of a time-share interval in a time-share project situated wholly outside this state if all solicitations, negotiations, offerings, and contacts took place wholly outside this state and the contract was executed wholly outside this state;

(6)A gratuitous transfer of a time-share interval;

(7)Group reservations made for fifteen or more people as a single transaction between a hotel and travel agent or travel groups for hotel accommodations when deposits are made and held for more than three years in advance; or

(8)Any offering, other than through an individual while located in this state, of a time-share interval for a time-share project situated wholly outside this state if the offer states that the time-share interval is in compliance with the law of the jurisdiction in which the time-share interval is located.

A reservation pursuant to section 76-1727 may be taken as a result of an exempt offering if the time-share program is registered prior to entering into any binding agreement with a purchaser, unless otherwise provided by the Nebraska Time-Share Act. For the purposes of subdivision

(5)of this section and the act, an exempt offer is an offering.