Developer control
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TN Code › Title 66 › Chapter 32 › Section 66-32-108
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(a) The time-share instruments for a time-share estate program may provide for a "developer control period," during which the developer or a managing agent selected by the developer may manage the time-share program and the units in the time-share program. (b) If the time-share instruments for a time-share estate program provide for the establishment of a developer control period, they shall ordinarily include provisions for the following: (1) Termination of the developer control period by action of the association; (2) Termination of contracts for goods and services for the time-share program or for units in the time-share program entered into during the developer control period; and (3) A regular accounting by the developer to the association as to all matters that significantly affect the interests of owners in the time-share program. Acts 1981, ch. 372, § 9; T.C.A., § 64-3209.
(a) The time-share instruments for a time-share estate program may provide for a "developer control period," during which the developer or a managing agent selected by the developer may manage the time-share program and the units in the time-share program.
(b) If the time-share instruments for a time-share estate program provide for the establishment of a developer control period, they shall ordinarily include provisions for the following: (1) Termination of the developer control period by action of the association; (2) Termination of contracts for goods and services for the time-share program or for units in the time-share program entered into during the developer control period; and (3) A regular accounting by the developer to the association as to all matters that significantly affect the interests of owners in the time-share program.
(1) Termination of the developer control period by action of the association;
(2) Termination of contracts for goods and services for the time-share program or for units in the time-share program entered into during the developer control period; and
(3) A regular accounting by the developer to the association as to all matters that significantly affect the interests of owners in the time-share program.
Acts 1981, ch. 372, § 9; T.C.A., § 64-3209.
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