{"data":{"id":"us-ar/ark.-code-ann.-18-14-204","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 18-14-204","heading":"Application for registration","body":"(a) An application for registration of a time-share plan shall contain: (1) The public offering statement; (2) A brief description of the time-share property; (3) Copies of time-share instruments; (4) Financial statements prepared according to generally accepted accounting principles and fully and fairly disclosing the current financial condition of the developer; (5) Any other documents referred to in the registration application; and (6) Other information as required by the Arkansas Real Estate Commission. (b) (1) If the accommodation in the time-share plan is in a condominium development or other common-interest subdivision, the application for registration shall contain evidence that the use of the accommodation for time-share purposes is not prohibited by the project instruments. (2) If the project instruments do not expressly authorize time-sharing, the application for registration shall contain evidence that purchasers in the condominium development or other common-interest subdivision were given written notice at least sixty (60) days before the application for registration was submitted that the accommodation would be used for time-share purposes. (3) If the project instruments contain a prohibition against time-sharing, the board of directors of the association shall certify that the amendment procedures in the project instruments were followed and that the project instruments have been amended to permit time-sharing. (c) The application shall be accompanied by a filing fee not to exceed one thousand dollars ($1,000). (d) (1) The commission shall thoroughly investigate matters relating to the application and may require a personal inspection of the time-share property by a person designated by it. (2) All direct expenses incurred by the commission in inspecting the time-share property are paid by the applicant, and the commission may require a deposit sufficient to cover the direct expenses before incurring them. (e) An application for registration shall be renewed, annually, and the renewal filing fee shall not exceed five hundred dollars ($500). Amended by Act 2013, No. 710,§ 2, eff. 8/16/2013. Acts 1983, No. 294, Art. 4, § 4-103; 1983, No. 765, § 3; A.S.A. 1947, § 50-1327.\n\n(a) An application for registration of a time-share plan shall contain: (1) The public offering statement; (2) A brief description of the time-share property; (3) Copies of time-share instruments; (4) Financial statements prepared according to generally accepted accounting principles and fully and fairly disclosing the current financial condition of the developer; (5) Any other documents referred to in the registration application; and (6) Other information as required by the Arkansas Real Estate Commission.\n\n(1) The public offering statement;\n\n(2) A brief description of the time-share property;\n\n(3) Copies of time-share instruments;\n\n(4) Financial statements prepared according to generally accepted accounting principles and fully and fairly disclosing the current financial condition of the developer;\n\n(5) Any other documents referred to in the registration application; and\n\n(6) Other information as required by the Arkansas Real Estate Commission.\nf description of the time-share property;\n\n(3) Copies of time-share instruments;\n\n(4) Financial statements prepared according to generally accepted accounting principles and fully and fairly disclosing the current financial condition of the developer;\n\n(5) Any other documents referred to in the registration application; and\n\n(6) Other information as required by the Arkansas Real Estate Commission.\n\n(b) (1) If the accommodation in the time-share plan is in a condominium development or other common-interest subdivision, the application for registration shall contain evidence that the use of the accommodation for time-share purposes is not prohibited by the project instruments. (2) If the project instruments do not expressly authorize time-sharing, the application for registration shall contain evidence that purchasers in the condominium development or other common-interest subdivision were given written notice at least sixty (60) days before the application for registration was submitted that the accommodation would be used for time-share purposes. (3) If the project instruments contain a prohibition against time-sharing, the board of directors of the association shall certify that the amendment procedures in the project instruments were followed and that the project instruments have been amended to permit time-sharing.\n\n(1) If the accommodation in the time-share plan is in a condominium development or other common-interest subdivision, the application for registration shall contain evidence that the use of the accommodation for time-share purposes is not prohibited by the project instruments.\n\n(2) If the project instruments do not expressly authorize time-sharing, the application for registration shall contain evidence that purchasers in the condominium development or other common-interest subdivision were given written notice at least sixty (60) days before the application for registration was submitted that the accommodation would be used for time-share purposes.\n\n(3) If the project instruments contain a prohibition against time-sharing, the board of directors of the association shall certify that the amendment procedures in the project instruments were followed and that the project instruments have been amended to permit time-sharing.\n\n(c) The application shall be accompanied by a filing fee not to exceed one thousand dollars ($1,000).\n\n(d) (1) The commission shall thoroughly investigate matters relating to the application and may require a personal inspection of the time-share property by a person designated by it. (2) All direct expenses incurred by the commission in inspecting the time-share property are paid by the applicant, and the commission may require a deposit sufficient to cover the direct expenses before incurring them.\n\n(1) The commission shall thoroughly investigate matters relating to the application and may require a personal inspection of the time-share property by a person designated by it.\n\n(2) All direct expenses incurred by the commission in inspecting the time-share property are paid by the applicant, and the commission may require a deposit sufficient to cover the direct expenses before incurring them.\n\n(e) An application for registration shall be renewed, annually, and the renewal filing fee shall not exceed five hundred dollars ($500).","path":["AR Code","Title 18","Chapter 14","Subchapter 2"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:41Z","sha256":"27037b5668a22d4ae5c1b19ae1b14fa4c08c29c5d9177a898bff7d2e1ad526a7","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-18-14-203","next":"us-ar/ark.-code-ann.-18-14-205"},"notice":"GroundRules: Original legal text. Not legal advice."}