Georgia § 44-3-161 Purpose of article

Georgia Statutes

§ 44-3-161 — Purpose of article

Georgia § 44-3-161

Title44

This text of Georgia § 44-3-161 (Purpose of article) is published on Counsel Stack Legal Research, covering Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

O.C.G.A. § 44-3-161 (2026).

Text

The purposes of this article are to:

(1)Give statutory recognition to real property timesharing in this state;

(2)Regulate developers of time-share estate and time-share use projects located in this state and outside this state when offered for sale in this state;

(3)Require that developers of time-share projects:

(A)Make certain disclosures to purchasers and prospective purchasers through the use of a public offering statement;

(B)Deposit trust funds with an escrow agent;

(C)Utilize only licensed real estate brokers as sales agents if required by Chapter 40 of Title 43; and (D) Comply with promotional advertising standards;

(4)Establish operating standards for time-share project managing agents and exchange programs operating in this state; and (5) Provide for sanctions for violati

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The purposes of this article are to: (1) Give statutory recognition to real property timesharing in this state; (2) Regulate developers of time-share estate and time-share use projects located in this state and outside this state when offered for sale in this state; (3) Require that developers of time-share projects: (A) Make certain disclosures to purchasers and prospective purchasers through the use of a public offering statement; (B) Deposit trust funds with an escrow agent; (C) Utilize only licensed real estate brokers as sales agents if required by Chapter 40 of Title 43; and (D) Comply with promotional advertising standards; (4) Establish operating standards for time-share project managing agents and exchange programs operating in this state; and (5) Provide for sanctions for violations of any provisions of this article which will permit: (A) Courts of competent jurisdiction to impose fines or imprisonment for misdemeanors and felonies; and (B) A claim for appropriate relief by any person adversely affected.