34-27-52
Section 34-27-52 Acts constituting violation of article - Failure to keep certain items among business records. It shall be a violation of this article for any owner or business entity offering vacation time-sharing plans for sale to the public to fail to keep among its business records the following: (1) A copy of each item required to be submitted to the commission under Section 34-27-51. (2) A copy of the contract from each sale of the vacation time-sharing plan, which contract shall be retained for a period of at least three years after parties to the vacation time-sharing plan have completely performed all of their obligations thereunder. (3) A list of all employees and independent contractors involved in the development, sale, or advertising of the vacation time-sharing plan or plans, including their last known mailing addresses, which list shall include all current employees and all previous employees whose employment has been terminated within the preceding 36 months. (Acts...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-27-52.htm - 1K - Match Info - Similar pages
34-27-51
Section 34-27-51 Acts constituting violation of article - Sell, etc.; without license; failure to provide certain documents at time of registration; failure to follow rules of advertising. It shall be a violation of this article for any seller of vacation time-sharing plans to: (1) Sell, lease, encumber, or convey in any manner or to solicit or advertise such transactions unless the seller has been duly licensed under the provisions of Section 34-27-66 and unless the vacation time-sharing plan and the units thereby affected have first been registered with the commission. Provided, however, that the registration requirements of this article shall not apply to nor restrict the listing and resale of any vacation time-sharing plan when: a. The vacation time-sharing plan to be resold is within an existing time-sharing facility currently registered with the commission pursuant to the requirements of this article; and b. The vacation time-sharing plan to be resold is subject to the identical...
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34-27-50
Section 34-27-50 Definitions. For the purposes of this article, the following terms shall have the meaning respectively ascribed to them by this section: (1) ACCOMMODATIONS. Any hotel or motel room, condominium, or cooperative unit, cabin, lodge, apartment, or any other private or commercial structure designed for occupancy by one or more individuals or any recreational vehicle campsite or campground. (2) BUSINESS ENTITY. Any individual, corporation, firm, association, joint venture, partnership, trust, estate, business trust, syndicate, fiduciary, and any other group or combination which engages in acts or practices in any trade or commerce. (3) CONTRACT. Any contract, promissory note, credit agreement, negotiable instrument, lease, use agreement, license, security, or other muniment conferring on the purchaser the rights, benefits, and obligations of a vacation time-sharing plan. (4) COMMISSION. The Alabama Real Estate Commission. (5) COMMISSIONER. A member of the Alabama Real Estate...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-27-50.htm - 7K - Match Info - Similar pages
34-27-59
Section 34-27-59 Acts constituting violation of article - Failure to disclose total financial obligation, etc., in contract. It shall be a violation of this section for any seller of vacation time-sharing plans to fail to fully disclose in the contract in boldface type of a size no smaller than any other type used in the body of the contract to purchaser: (1) The total financial obligation of the purchaser, which shall include the initial purchase price and any additional charges to which the purchaser may be subject. (2) Any individual or business entity which has or may have the right to alter, amend, or add to charges to which the purchaser may be subject and the terms and conditions under which such charges may be imposed. (3) The nature and duration of each agreement between the business offering the vacation time-sharing plans for sale and the individual or business entity managing the accommodations or other facilities. (4) In immediate proximity to the space reserved in the...
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34-27-66
Section 34-27-66 Examination and license requirements; issuance and renewal of license; inactive status; change of address. (a) Any person desiring to act as a seller of vacation time-sharing plans shall file with the commission a written application upon such form as the commission shall designate and shall pass to the satisfaction of the commission the examination hereinafter prescribed. (b) Prerequisites for taking the vacation time-sharing sales examination are as follows: (1) Evidence satisfactory to the commission that the applicant bears a good reputation for honesty and truthfulness. (2) The applicant should not have been convicted of any criminal offense involving moral turpitude or of any felony in this or any other state. (3) The applicant shall be at least 19 years of age. (4) The applicant shall be a citizen of the United States or, if not a citizen of the United States, a person who is legally present in the United States with appropriate documentation from the federal...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-27-66.htm - 8K - Match Info - Similar pages
34-27-68
Section 34-27-68 Commission may seek injunctive relief, etc., for violation of article; investigation; revocation of registration. (a) If it appears that a person, firm, corporation, or any business entity has engaged, or is about to engage, in an act or practice constituting a violation of a provision of this article or rule or order of the commission, the commission, through the Attorney General, may institute legal actions to enjoin the act or practice and to enforce compliance with this article or any rule or order of the commission or to have a receiver or conservator appointed. To prevail in such action, it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation thereof. (b) The commission may: (1) Make any public or private investigation which it deems necessary, either within or outside of this state, to determine whether any person has violated or is about...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-27-68.htm - 6K - Match Info - Similar pages
25-14-9
Section 25-14-9 Written contract; rights and duties of clients; employees, and professional employer organizations. (a) All professional employer organization arrangements shall have a written contract between the client and the professional employer organization recognizing the rights, responsibilities, and duties of each party. The contract shall disclose to the client the services to be rendered by the professional employer organization, including the total administrative fees charged for professional employer organization services, the respective rights and obligations of the parties, and shall provide the following: (1) The professional employer organization reserves a right of direction and control over contract employees and exercises that right in the context of the need to do so according to the terms and conditions of the professional employment agreement. The client, however, as an employer, may retain sufficient direction and control over covered employees necessary to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-14-9.htm - 12K - Match Info - Similar pages
34-27-53
Section 34-27-53 Acts constituting violation of article - Failure to utilize, etc., fully completed copy of contract. It shall be a violation of this article for the seller of a vacation time-sharing plan to fail to utilize and furnish the buyer with a fully completed copy of a contract pertaining to such sale at the time of its execution which shall include: (1) The actual date the contract is signed by all parties. (2) The name and address of the seller. (3) In immediate proximity to the space reserved in the contract for the signature of the buyer and in no smaller type than contained in the body of the contract: a. In the case of a vacation time-sharing lease plan, the following statement: "You may cancel this contract without penalty or obligation within five days, not including Sunday if that is the fifth day, from the above date. You may also cancel this contract at any time in case the accommodations or facilities are no longer available as provided in the contract. If you...
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34-27-67
Section 34-27-67 Registration required of every plan offered for sale. Every vacation time-sharing plan for sale or offered for sale in this state shall be registered with the Alabama Real Estate Commission as follows: (1) Upon receipt of an application for registration in the required form, the commission shall forthwith initiate an examination to determine that: a. The seller may convey or cause to be conveyed the vacation time-sharing plan offered for sale if the purchaser complies with the terms of the offer. b. The advertising material and general promotional plan are not false or misleading as determined by the commission. c. The requirements of this article and the rules of the commission have been fulfilled. d. The seller has not, or, if a corporation, its officers, directors, and principals have not been convicted of any crime involving land dispositions, any crime of moral turpitude, any securities law violation, fraudulent business activity, or any aspect of the vacation...
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34-27-58
Section 34-27-58 Acts constituting violation of article - Failure to place 50 percent of cash, etc., received in escrow; failure to provide liability insurance, etc. (a) It shall be a violation of this article for a seller of vacation time-sharing lease plans to fail to: (1) Place in escrow 50 percent of the cash and receivables received from the purchasers of such plans, such receivables to be assessed at net principal value. a. The purpose of such escrow account is to protect the purchaser's right to a refund if at any time the accommodations and facilities are no longer available as provided in the contract; provided however, nothing contained in this section shall operate to deny the seller the option to repair, replace, or reconstruct, within a reasonable time, the accommodations or facilities, if destroyed or damaged. b. The purchaser shall be entitled to a refund from the escrow account upon the conditions described above in an amount which represents the buyer's pro rata share...
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