Indiana § 32-32-3-1 - Registration with division
Full text of Indiana Indiana Code § 32-32-3-1 — Registration with division, with citation guidance and answers to common questions.
§ 32-32-3-1. Registration with division
Sec. 1. (a) Before a developer may offer to sell any time shares or camping club memberships in this state, the developer must register with the division under this section.
(b) A person who applies for registration under this section shall submit an application in the manner provided by the division and shall disclose the following information under oath:
(1) The names and addresses of all officers, project managers, marketing agencies, advertising agencies, and exchange companies who are actively involved in soliciting or selling time share units or camping club memberships.
(2) The name and address of each person who owns an interest of ten percent (10%) or more in the registrant, except for reporting companies under the Securities Exchange Act of 1934.
(3) A copy of the document in which the time share project or camping club project is created.
(4) A preliminary title report for the time share project or camping club project and copies of the documents listed as exceptions in the report showing any encumbrances.
(5) Copies of and instructions for escrow agreements, deeds, and sales contracts.
(6) Documents that show the current assessments for property taxes on the time share project or camping club project.
(7) A copy of bylaws or similar instrument that creates any community ownership relationship.
(8) Copies of all documents that will be given to a participant who is interested in participating in a program for the exchange of occupancy rights among time share participants or camping club members, and copies of the documents that show acceptance of the time share or camping club membership in the program.
(c) A developer who knowingly or intentionally offers to sell any time shares or camping club memberships in this state before registering with the division under this section commits a Level 6 felony.
[Pre-2002 Recodification Citation: 24-5-9-22.]
As added by P.L.2-2002, SEC.17. Amended by P.L.158-2013, SEC.334.
Frequently Asked Questions About Indiana § 32-32-3-1
What does Indiana Code § 32-32-3-1 cover?
Section 32-32-3-1 ("Registration with division") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 32-32-3-1?
A common citation format is "Indiana Code § 32-32-3-1" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 32-32-3-1 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.