{"data":{"id":"us-gu/21-gca-47305","jurisdiction":"us-gu","citation":"21 GCA § 47305","heading":"Exemptions.","body":"(a) The developer shall not be required to prepare and distribute a public offering statement if the developer has registered and there has been issued a public offering statement or similar disclosure document which is provided to purchasers under the following:\n(1) Securities and Exchange Act of 1933;\n(2) Federal Interstate Land Sales Full Disclosure Act in which the time-share program is made a part of the subdivision that is being registered; or\n(3) any other Federal or local act which requires a Federal or local public offering statement or similar disclosure document to be prepared and provided to purchasers.\n(b) A public offering statement need not be prepared or delivered in the case of:\n(1) any transfer of a time-share interval by any time-share interval owner other than the developer or his agent;\n(2) any disposition pursuant to court order;\n(3) a disposition by a government or governmental agency;\n(4) a disposition by foreclosure or deed in lieu of foreclosure;\n(5) a disposition of a time-share interval in a time-share project situated wholly outside this Territory provided that all solicitations, negotiations and contracts took place wholly outside this Territory and the contract was executed wholly outside this Territory;\n(6) a gratuitous transfer of a time-share interval; or\n(7) group reservations made for fifteen (15) or more people as a single transaction between a hotel and travel agent or travel groups for hotel accommodations, where deposits are made and held for more than three (3) years in advance.","path":["Title 21: Real Property","Division 1 - Ownership of Real or Immovable Property","Chapter 47: Time-Share Ownership","ARTICLE 3: PROTECTION OF PURCHASERS"],"source_url":"https://col.guamcourts.gov/sites/default/files/21gc047.pdf","current_through":"P.L. 38-133 (June 4, 2026)","vintage":"","retrieved_at":"2026-09-27T04:12:18Z","sha256":"7f0d1484eb75df7b2f1dc386b4ea12653bc3b6340f7b807024d4ecd171a1e229","source_id":"us-gu","stale":false,"prev":"us-gu/21-gca-47304","next":"us-gu/21-gca-47306"},"notice":"GroundRules: Original legal text. Not legal advice."}