The time-share instruments for a time-share use program shall prescribe reasonable arrangements for management and operation of the time-share program and for the maintenance, repair and furnishing of units which shall ordinarily include, but need not be limited to, provisions for the following:

(1) Standards and procedures for upkeep, repair and interior furnishings of units and for providing maid, cleaning, linen and similar services to the units during use periods;
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Terms Used In Tennessee Code 66-32-110

  • Developer: means , in the case of any given property, any person or entity which is in the business of creating or which is in the business of selling its own time-share intervals in any time-share program. See Tennessee Code 66-32-102
  • Managing agent: means a person who undertakes the duties, responsibilities, and obligations of the management of a time-sharing program. See Tennessee Code 66-32-102
  • Person: means one (1) or more natural persons, corporations, partnerships, associations, trusts, other entities, or any combination thereof. See Tennessee Code 66-32-102
  • property: means all of the real property subject to a project instrument, and containing more than one (1) unit. See Tennessee Code 66-32-102
  • Time-share program: means any arrangement for time-share intervals in a time-share project whereby use, occupancy or possession of real property has been made subject to either a time-share estate or time-share use whereby such use, occupancy or possession circulates among purchasers of the time-share intervals according to a fixed or floating time schedule on a periodic basis occurring annually over any period of time in excess of one (1) year. See Tennessee Code 66-32-102
  • Time-share use: means any contractual right of exclusive occupancy which does not fall within the definition of a "time-share estate" including, without limitation, a vacation license, prepaid hotel reservation, club membership, vacation club interest, limited partnership or vacation bond. See Tennessee Code 66-32-102
  • Unit: means the real property or real property improvement in a project which is divided into time-share intervals. See Tennessee Code 66-32-102
(2) Adoption of standards and rules of conduct governing the use and occupancy of units by owners;
(3) Payment of the costs and expenses of operating the time-share program and owning and maintaining the units;
(4) Selection of a managing agent to act on behalf of the developer;
(5) Preparation and dissemination to owners of an annual budget and of operating statements and other financial information concerning the time-share program;
(6) Procedures for establishing the rights of owners to the use of units by prearrangement or under a first-reserved first-served priority system;
(7) Organization of a management advisory board consisting of time-share use owners including an enumeration of rights and responsibilities of the board;
(8) Procedures for imposing and collecting assessments or use fees from time-share use owners as necessary to defray costs of management of the time-share program and in providing materials and services to the units;
(9) Comprehensive general liability insurance for death, bodily injury and property damage arising out of, or in connection with, the use of units by time-share use owners, their guests and other users;
(10) Methods for providing compensating use periods or monetary compensation to an owner if a unit cannot be made available for the period to which the owner is entitled by schedule or a confirmed reservation;
(11) Procedures for imposing a monetary penalty or suspension of an owner’s rights and privileges in the time-share program for failure of the owner to comply with the provisions of the time-share instruments or the rules established by the developer with respect to the use of the units. The owners shall be given notice and the opportunity to refute or explain the charges in person or in writing to the management advisory board before a decision to impose discipline is rendered; and
(12) Annual dissemination to all time-share use owners by the developer, or by the managing agent, of a list of the name and mailing addresses of all current time-share use owners in the time-share program.
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