Section 407.600

Title XXVI TRADE AND COMMERCE

Chapter 407

Effective - 28 Aug 1988   

  407.600.  Definitions. — As used in sections 407.600 to 407.630, the following terms shall mean:

  (1)  "Accommodations", any apartment, condominium or cooperative unit, cabin, lodge, hotel or motel room, or any other private or commercial structure which is situated on real property and designed for occupancy by one or more individuals, which is made available to the purchasers of a time-share plan;

  (2)  "Enrolled", paid membership in an exchange program or membership in an exchange program evidenced by written acceptance or confirmation of membership;

  (3)  "Exchange company", the person operating an exchange program;

  (4)  "Exchange program", any opportunity or procedure for the assignment or exchange of time-share periods among purchasers in the same or other time-share plans;

  (5)  "Facilities", any structure, service, improvement, campground, recreational vehicle park or real property, improved or unimproved, which is made available to the purchasers of a time-share plan;

  (6)  "Person", any natural person or his legal representative, partnership, domestic or foreign corporation, company, trust, business entity or association, and any agent, employee, salesman, partner, officer, director, member, stockholder, associate, trustee or cestui que trust thereof;

  (7)  "Promotion", any advertisement, whether by mail, radio, television or personal sales, in which a time-share property is offered for sale by use of a sweepstakes;

  (8)  "Sweepstakes", a method of promoting the sale of time-share plans which involves the offering, giving, or awarding of prizes which have odds associated with the actual delivery of the prize or gift;

  (9)  "Time-share periods", all periods of time when a purchaser of a time-share plan is entitled to the possession and use of the accommodations or facilities, or both, of a time-share plan regardless of whether such periods are designated as one or more specific days, weeks or months;

  (10)  "Time-share developments", a single specific parcel of real property from which only time-share plans are offered for sale or sold;

  (11)  "Time-share plan", any arrangement, plan, scheme or similar device, other than an exchange program, whether by membership, agreement, tenancy in common, sale, lease, deed, rental agreement, license, right-to-use agreement or any other means, whereby a purchaser, in exchange for a consideration, receives one or more time-share periods, or any type of interval or joint ownership in, or a right-to-use, any accommodation or facility for a period of time which is less than a full continuous and uninterrupted year during any given year, and which extends for a period of more than three years, as to each individual time-share development subject to the purchase;

  (12)  "Time-share unit", an accommodation or facility of a time-share plan which is divided into time-share periods, or is otherwise subject to interval or joint ownership or use by the purchaser of the time-share plans;

  (13)  "Prize/gift", any merchandise offered in any time-share promotional device, sweepstakes, drawing or display booth which is used to induce or encourage the attendance of any time-share sales solicitation or presentation.

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(L. 1985 H.B. 96, et al., A.L. 1988 H.B. 988)