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:
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
(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
(5) Consent to service of
process upon the Bureau of Real Estate if applicant is a nonresident of
(6) A description of
the inventory control system that will ensure compliance with Section 11250 of
(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.
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.
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.
description of any existing or proposed amenities that will be part of the
(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.
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
(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
(21) A description
and amount of insurance coverage provided for the protection of the
(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.
A copy of instructions to escrow
depository for compliance with Section 11241 including the following:
(A) Name and address of escrow
(B) A description of
the nature of the transaction.
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
(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.
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
(30) State or local
assessment and improvement bond information if applicable to accommodations in
(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.
Copy of proposed or existing agreements for management of the time-share
(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
(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
documents for reservations and reservation deposits if a preliminary public
report is requested.
of financial arrangements for any repurchase guarantee included in the
(39) Description of the
furnishings and other personal property to be included in the time-share
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
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
(41) Agreement of developer to subsidize
maintenance and operation of the single-site time-share plan where
(42) Description of
each incidental benefit pursuant to Section 11237(b).
(43) If applicable, information as required
by Section 11233.
applicable, a certification meeting requirements of Section 11246.
(45) Audited financial statements of the
Association, if applicable.
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.