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Real Estate | |
Timeshare and Camp Resort Act | |
Section 26 | Exemptions. |
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57-19-26. Exemptions. (1) Unless entered into for the purpose of evading the provisions of this chapter, the following transactions are exempt from registration: (a) isolated transactions by an owner of an interest in a project or by a person holding such an owner's executed power of attorney; (b) an offer or sale by a governmental entity; and (c) a bona fide pledge of interest in a project. (2) The director may, by rule or order, exempt any person from any or all requirements of this chapter if the director finds that the offering of an interest in a project is essentially noncommercial. For purposes of this subsection, the offering of fewer than 10 interests in a project is considered essentially noncommercial.
Enacted by Chapter 73, 1987 General Session |
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