Cal. Code Regs. Tit. 10, § 2809.1 - Properly Completed Application - Single-Site Time-Share Plan

Current through Register 2021 Notice, Register No. 40, October 1, 2021

An application for a final public report for a single-site time-share plan is "properly completed" within the meaning of Section 11231 of the Code if it contains the documents and information enumerated below:

(a) For every single-site time-share plan:
(1) The developer's legal name, any assumed names used by the developer, principal office street address, mailing address, primary contact person, and telephone number.
(2) The name of the developer's authorized or registered agent in the state upon whom claims can be served or service of process be had, the agent's street address in California, and telephone number.
(3) The name, street address, mailing address, primary contact person, and telephone number of any time-share plan being registered.
(4) The name, street address, mailing address, and telephone number of any managing entity of the time-share plan.
(5) Consent to service of process upon the Bureau of Real Estate if applicant is a nonresident of California.
(6) A description of the inventory control system that will ensure compliance with Section 11250 of the Code.
(7) Evidence that the accommodation is presently suitable for human occupancy or that financial arrangements have been made to complete construction or renovation of the accommodation to make it suitable for human occupancy on or before the first date for occupancy by a time-share interest owner.
(8) Evidence that the accommodations are owned or leased by the developer of the time-share plan or is the subject of an enforceable option or contract under which the developer will build, purchase, or lease the accommodations.
(9) If an accommodation in a time-share plan is located within a local governmental jurisdiction or subdivision of real property in which the dedication of accommodations to time-sharing is expressly prohibited by ordinance or recorded restriction, either absolutely or without a permit or other entitlement from the governing body, the applicant for a public report shall present evidence of a permit or other entitlement by the appropriate authority for the local government or the subdivision.
(10) A description of the existing or proposed accommodations, including the type and number of time-share interests in the accommodations.
(11) The number of accommodations and time-share interests expressed in periods of seven-day use availability or other time increments applicable to the time-share plan, and available for use by purchasers and a representation about the percentage of useable time authorized for sale.
(12) A description of any existing or proposed amenities that will be part of the time-share plan.
(13) A description of the financial arrangements that have been made, pursuant to Section 11230, for the completion of any incomplete, promised amenities.
(14) A description of the duration, phases and operation of the time-share plan.
(15) Copy of the budget meeting the requirements of Section 11240, along with the budget certification or request that the budget be certified by the Budget Review Section of the Bureau of Real Estate, and a description of the method for calculating and apportioning the assessments among purchasers.
(16) A description of any initial or special fee due from the purchaser at closing together with a description of the purpose and method of calculating the fee.
(17) A description of any financing available through the developer.
(18) A description of any liens, defects, or encumbrances on or affecting the title to the time-share interests.
(19) A description of any bankruptcies, pending civil or criminal suits, adjudications, or disciplinary actions of which the developer has knowledge, that would have a material effect on the developer's ability to perform its obligations.
(20) A description of any fees or charges to be paid by time-share purchasers for the use of any amenities related to the time-share plan.
(21) A description and amount of insurance coverage provided for the protection of the purchaser.
(22) If applicable, a description of any right of first refusal or other restraint on the transfer of all or any portion of a time-share interest.
(23) A copy of instructions to escrow depository for compliance with Section 11241 including the following:
(A) Name and address of escrow depository.
(B) A description of the nature of the transaction.
(C) Conditions that must be satisfied before escrow can be closed.
(D) Provision for the return to a prospective purchaser of funds deposited toward the purchase of a time-share interest if the escrow for the transaction has not closed on or before a given date.
(24) Evidence of financial arrangements to assure fulfillment of developers obligation to pay assessments for unsold timeshare interests pursuant to Section 11241.
(25) Copy of the contract utilized between the exchange company and a purchaser of a time-share interest and all promotional and informational material delivered to purchasers pertaining to any offered exchange program.
(26) Filing fee including fee for preliminary public report if applicable.
(27) Certificate of qualification from Secretary of State if applicant is a foreign corporation.
(28) Preliminary title report for all accommodations comprising the time-share plan, dated not more than 90 days prior to the date of submission of the application or, if the preliminary title report is dated more than 90 days earlier, with an accompanying letter from the title officer, dated not more than 90 days prior to submission of the application, indicating that state of title has not changed from that set forth in the submitted preliminary title report.
(29) If the offering is a security subject to the jurisdiction of the Department of Business Oversight, a Department of Business Oversight permit or interpretive opinion or copy of application for permit or request for interpretive opinion submitted to Department of Business Oversight.
(30) State or local assessment and improvement bond information if applicable to accommodations in the project.
(31) Copies of all contracts, deeds, fact sheets and other instruments to be used in marketing, financing and conveyancing of time-share interests.
(32) Copy of the covenants to be recorded for the time-share plan pursuant to Section 11251 of the Code.
(33) Copy of trust agreement for the time-share plan if applicable.
(34) Copy of proposed or existing agreements for management of the time-share plan.
(35) Format of fidelity insurance or bond to be obtained for the managing agent of the time-share plan and other employees who will have custody or control of funds of the Association.
(36) Copy of letter or other evidence giving notice of the proposed dedication of the timeshare project to local governments in which accommodations of the time-share plan will be located. For time-share projects located outside this state, evidence of approval or compliance of the time-share project in the state in which the time-share project is located is sufficient to satisfy this requirement.
(37) Completed documents for reservations and reservation deposits if a preliminary public report is requested.
(38) Evidence of financial arrangements for any repurchase guarantee included in the offering.
(39) Description of the furnishings and other personal property to be included in the time-share offering.
(40) In a time-share plan which comprises less than all of the accommodations in a hotel, motel or similar commercial lodging establishment and in which the accommodations not part of the time-share plan are concurrently used for transient accommodations, a copy of the proposed contract for the following:
(A) Arrangements for temporary use for transient occupancy of accommodations comprising the time-share plan and temporary use by the time-share plan of accommodations regularly used for transient occupancy.
(B) Apportionment of the costs of operation of the hotel/motel that are for the joint benefit of accommodations in the time-share plan and accommodations for transient occupancy.
(41) Agreement of developer to subsidize maintenance and operation of the single-site time-share plan where applicable.
(42) Description of each incidental benefit pursuant to Section 11237(b).
(43) If applicable, information as required by Section 11233.
(44) If applicable, a certification meeting requirements of Section 11246.
(45) Audited financial statements of the Association, if applicable.
(46) For every single-site time-share plan involving newly-built or as yet unbuilt accommodations, or accommodations which will be renovated or reconstructed prior to occupancy, evidence of availability of domestic utilities and services to the project.
(47) If the time-share plan is located outside this state, a public report or other disclosure document meeting the requirements of Section 11226(c)(5).
(48) A draft public report.
(b) For the sole purpose of determining the effect on the time-share plan, for every single-site time-share plan with accommodations in a condominium development or other common-interest subdivision:
(1) Proposed or existing governing instruments for the common-interest subdivision.
(2) Copies of all contracts or proposed contracts obligating the owners' association of the common-interest subdivision if the subdivision is one for which a public report has not been issued.
(3) If included in the subdivision offering, a copy of agreement of developer to subsidize maintenance and operations of the common interest subdivision if a public report has not been issued for the subdivision.
(4) Financial arrangements to assure performance of the subsidization agreement referred to in (3) above if applicable.
(5) Latest balance sheet and annual operating statement for the owners' association for the common interest subdivision.
(6) Pro-forma budget reflecting estimated ownership, maintenance and operational expenses and reserves for the subdivision.
(7) Financial arrangements to assure fulfillment of developer's obligation to pay assessments for unsold time-share interests if public report has not been issued for the subdivision.
(8) Copy of letters by which the developer has given notice of the proposed dedication of an accommodation to a time-share project to the owners' association of each common-interest subdivision in which an accommodation of the time-share project is located.
(9) Evidence of financial arrangements for completion of common areas and facilities in the subdivision.


Cal. Code Regs. Tit. 10, § 2809.1

Note: Authority cited: Section 11281, Business and Professions Code. Reference: Sections 11226,11231 and 11234, Business and Professions Code.

1. New section filed 5-5-2005; operative 7-1-2005 (Register 2005, No. 18).
2. Change without regulatory effect amending subsections (a)(5), (a)(15) and (a)(29) filed 6-30-2014 pursuant to section 100, title 1, California Code of Regulations (Register 2014, No. 27).

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