§ 57-19-2. Definitions.

     As used in this chapter, unless the context clearly requires otherwise:

(1) "Accommodations" includes hotel or motel rooms, condominium or cooperative units, cabins, lodges, apartments, and private or commercial structures designed for occupancy by one or more individuals.

(2) "Advertisement" means a written, printed, audio, or visual offer made by general solicitation.

(3) "Association" means an organized body consisting solely of owners of timeshare interests in a timeshare development that has been registered with the division.

(4) "Business day" means a day other than a Saturday, Sunday, or state or federal holiday.

(5) "Camp resort" means any enterprise that has as its primary purpose the offering of a camp resort interest.

(6) "Camp resort interest" means the right to use and occupy a camping site.

(7) "Camping site" means a space designed or promoted for the purpose of locating a trailer, tent, tent trailer, pickup camper, or other similar device used for land-based portable housing.

(8) "Developer" means a person who:

(a) establishes, promotes, owns, or operates a timeshare development or camp resort; or

(b) engages one or more other persons to establish, promote, or operate a timeshare development or camp resort on the person's behalf.

(9) "Director" means the director of the division.

(10) "Division" means the Division of Real Estate of the Department of Commerce.

(11) "Executive director" means the executive director of the Department of Commerce.

(12) "Interest" means a camp resort interest or a timeshare interest.

(13) "Offer" means a solicitation intended to result in a person purchasing an interest in a project.

(14) "Project" means a camp resort or timeshare development.

(15) "Purchaser" means a person who purchases an interest in a project.

(16) "Sale" or "sell" means selling an interest in a project for value. It does not include charging a reasonable fee to offset the administrative costs of transferring an interest in a project.

(17) "Salesperson" means an individual who, for compensation and as agent for another, is engaged in obtaining commitments of persons to purchase an interest in a project by making direct sales presentations to those persons. It does not include purchasers or members engaged in the referral of persons without making a direct sales presentation to them.

(18) "Timeshare development" means any enterprise that has as its primary purpose the offering of a timeshare interest, including a project in which the purchase of an interest gives the purchaser the right to use and occupy an accommodation at one specific site or more than one site.

(19) "Timeshare interest" means a right to occupy fixed or variable accommodations during three or more separate fixed or variable time periods over a period of at least three years, including renewal options, whether or not coupled with an estate in land. It includes what is commonly known as a "timeshare estate," which is a small undivided fractional fee interest in real property by which the purchaser does not receive any right to use accommodations except as provided by contract, declaration, or other instrument defining a legal right.

Amended by Chapter 166, 2012 General Session