§ 94.863 — Developer’s duty to managing entity

Oregon § 94.863

• Jurisdiction: Oregon
• Vol.: 3
• Title 10: Property Rights and Transactions
• Ch. 94: Real Property Development

Text

The developer shall deliver to the designated managing entity before the closing of the first timeshare sale, the following:
(1) The original or a photocopy of the recorded timeshare instrument for the timeshare plan and any supplements and amendments thereto.
(2) A copy of any other document creating the managing entity.
(3) Any rules and regulations that have been promulgated.
(4) A report of the present financial condition of the timeshare plan. The report shall consist of a balance sheet and an income and expense statement for the preceding 12-month period or the period following the recording of the timeshare instrument whichever period is less.
(5) All funds of the timeshare plan, or control thereof, including, but not limited to, any bank signature card.
(6) All tangible personal property that is the property of the timeshare plan and an inventory of such property.
(7) A copy of the following, if available:
(a) The as-built architectural, structural, engineering, mechanical, electrical and plumbing plans.
(b) The original specifications indicating all material changes.
(c) The plans for any underground site service, site grading, drainage and landscaping.
(d) Any other plans and information relevant to future repair or maintenance of the timeshare property.
(8) Insurance policies.
(9) A roster of timeshare owners and their addresses and telephone numbers, if known, as shown on the developer’s records.
(10) Leases of the timeshare facilities and accommodations and any other leases to which the managing entity is a party.
(11) Any employment or service contract to which the managing entity is a party and any service contract under which the managing entity has an obligation or responsibility, directly or indirectly, to pay some or all of the fee or charge of the person performing the service.
(12) Any other contract to which the managing entity is a party.

Legislative History

1983 c.530 §14