Arizona Laws 42-13451. Definitions
In this article, unless the context otherwise requires:
Terms Used In Arizona Laws 42-13451
- Accommodation: means any apartment, condominium or cooperative unit, cabin, lodge, hotel or motel room or other private or commercial structure containing toilet facilities that is designed and available for use and occupancy as a residence by one or more individuals and that is included in the offering of a timeshare plan. See Arizona Laws 42-13451
- Association: means any organized body consisting of the purchasers of interests in a timeshare plan. See Arizona Laws 42-13451
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Developer: means either of the following:
(a) Any person, corporation, partnership, limited liability company, trust or other entity, other than a sales agent, that creates a timeshare plan or is in the business of selling timeshare interests or employs sales agents to sell timeshare interests. See Arizona Laws 42-13451
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: means a natural person, individual, proprietor, proprietorship, company, corporation, organization, association, joint venture, partner, partnership, trust, estate or limited liability company, the federal or state government, a political subdivision of a state or any other legal entity or combination of entities that owns, controls or has possession of real or personal property. See Arizona Laws 42-11001
- Promotion: means a plan or device, including one involving the possibility of a prospective purchaser receiving a vacation, discount vacation, gift or prize, used by a developer or the developer's employee, or on the developer's behalf by an agent or the agent's employee, an independent contractor or the independent contractor's employee in connection with the offering and sale of timeshare interests in a timeshare plan. See Arizona Laws 42-13451
- Property: includes both real and personal property. See Arizona Laws 1-215
- Timeshare interest: includes either a timeshare estate or a timeshare use. See Arizona Laws 42-13451
- Timeshare property: means one or more accommodations subject to the same timeshare instrument, together with any other property or rights to property appurtenant to those accommodations. See Arizona Laws 42-13451
- Transient occupant: means any person who occupies an accommodation in a timeshare property and provides rental income to the developer or association to occupy the accommodation. See Arizona Laws 42-13451
1. "Accommodation" means any apartment, condominium or cooperative unit, cabin, lodge, hotel or motel room or other private or commercial structure containing toilet facilities that is designed and available for use and occupancy as a residence by one or more individuals and that is included in the offering of a timeshare plan.
2. "Association" means any organized body consisting of the purchasers of interests in a timeshare plan.
3. "Developer" means either of the following:
(a) Any person, corporation, partnership, limited liability company, trust or other entity, other than a sales agent, that creates a timeshare plan or is in the business of selling timeshare interests or employs sales agents to sell timeshare interests.
(b) Any person or entity that succeeds to the interest of the developer by sale, lease, assignment, mortgage or other transfer if the person offers at least twelve timeshare interests in a particular timeshare plan and the person is in the business of selling timeshare interests or employs sales agents to sell timeshare interests.
4. "Managing entity" means the association or other person that undertakes the duties, responsibilities and obligations of the management of a timeshare plan.
5. "Promotion" means a plan or device, including one involving the possibility of a prospective purchaser receiving a vacation, discount vacation, gift or prize, used by a developer or the developer’s employee, or on the developer’s behalf by an agent or the agent’s employee, an independent contractor or the independent contractor’s employee in connection with the offering and sale of timeshare interests in a timeshare plan.
6. "Timeshare interest" includes either a timeshare estate or a timeshare use.
7. "Timeshare property" means one or more accommodations subject to the same timeshare instrument, together with any other property or rights to property appurtenant to those accommodations.
8. "Transient occupant" means any person who occupies an accommodation in a timeshare property and provides rental income to the developer or association to occupy the accommodation. Transient occupant does not include any person who uses an accommodation as a promotion, timeshare interest or exchange program.