{"data":{"id":"us-ri/r.i.-gen.-laws-34-41-4.08","jurisdiction":"us-ri","citation":"R.I. Gen. Laws § 34-41-4.08","heading":"Deposits.","body":"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:\n(1) Delivered to the developer at the time of any final transfer or conveyance of a time-share interest,\n(2) Delivered to the developer because of the purchaser’s default under a contract to purchase the time share,\n(3) Refunded to the purchaser,\n(4) Delivered to the developer in accordance with § 34-41-5.03(c)(5), or\n(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.","path":["Title 34 Property","Chapter 41 Rhode Island Real Estate Time-Share Act","Article IV Protection of Purchasers"],"source_url":"https://webserver.rilegislature.gov/Statutes/TITLE34/34-41/34-IV/34-41-4.08.htm","current_through":"site files published 2025-08-13","vintage":"","retrieved_at":"2026-09-05T19:58:53Z","sha256":"61fa33c7b45c6e894552e9795acf68c7da18439d48d730cf3dfd8a4e34933985","source_id":"us-ri","stale":true,"prev":"us-ri/r.i.-gen.-laws-34-41-4.07","next":"us-ri/r.i.-gen.-laws-34-41-4.09"},"notice":"GroundRules: Original legal text. Not legal advice."}