Sec. 6. A transfer of an interest in a time share unit or camping club membership shall be by written contract that includes or incorporates by reference the following provisions:

(1) A legal description of the time share unit or camping site that transfers an interest in real property.

(2) The name and location of the time share unit or camping site.

(3) A system of identification of the time periods assigned to time shares by letter, name, number, or any combination of letters, names, or numbers.

(4) Provisions for assessment of the expenses of the time share project or camping club project and an allocation of those expenses among the time share participants or camping club members.

(5) Provisions for maintenance of the time share units or camping sites.

(6) Provisions for management of the time share project or camping club project.

(7) A description of the rights of the time share participant or camping club member relating to the occupancy of the time share unit or camping site.

[Pre-2002 Recodification Citation: 24-5-9-27.]

As added by P.L.2-2002, SEC.17.