2966

LAWS OF MARYLAND

Ch. 579

(G) "DEVELOPER" MEANS ANY PERSON IN THE BUSINESS OF
CREATING OR DISPOSING OF THAT PERSON'S TIME-SHARES IN TIME-SHARE
PROJECTS.

(H) "DEVELOPER CONTROL PERIOD" IS AS DEFINED IN § 11A-106.

(I) "EXCHANGE COMPANY" MEANS ANY PERSON OPERATING AN
EXCHANGE PROGRAM.

(J) "EXCHANGE PROGRAM" MEANS ANY ARRANGEMENT FOR THE
EXCHANGE OF OCCUPANCY RIGHTS OF TIME-SHARE OWNERS.

(K) "FACILITY FEES" MEANS FEES FOR RECREATIONAL OR OTHER
FACILITIES CHARGED ON A PER USE BASIS.

(L) "MANAGING ENTITY" MEANS ANY PERSON OR ASSOCIATION,
INCLUDING THE DEVELOPER, DESIGNATED IN OR EMPLOYED PURSUANT TO A
TIME-SHARE INSTRUMENT OR PROJECT INSTRUMENT TO MANAGE A
TIME-SHARE PROJECT.

(M) "OCCUPANCY EXPENSES" MEANS COSTS OCCASIONED BY USE OF
INDIVIDUAL TIME-SHARE UNITS SUCH AS HOUSEKEEPING OR CLEANING.

(N) "PROJECT" MEANS REAL PROPERTY ALL OR A PORTION OF WHICH
IS SUBJECT TO A PROJECT INSTRUMENT. A PROJECT MAY INCLUDE UNITS
THAT ARE NOT TIME-SHARE UNITS.

(0) "PROJECT INSTRUMENT" MEANS 1 OR MORE RECORDABLE
DOCUMENTS, BY WHATEVER NAME DENOMINATED, APPLYING TO A PROJECT
AND CONTAINING RESTRICTIONS OR COVENANTS REGULATING THE USE,
OCCUPANCY, ENJOYMENT, OR DISPOSITION OF UNITS OR AMENITIES IN OR
OTHER ASPECTS OF A TIME-SHARE PROJECT.

(P) "PURCHASER" MEANS ANY PERSON, OTHER THAN A DEVELOPER,
WHO BY MEANS OF A VOLUNTARY TRANSFER ACQUIRES A LEGAL OR
EQUITABLE INTEREST IN A TIME-SHARE OTHER THAN AS SECURITY FOR AN
OBLIGATION.

(Q) "SALES CONTRACT" MEANS ANY AGREEMENT CONFERRING
TRANSFERRING THE RIGHTS AND OBLIGATIONS OF THE TIME-SHARE PLAN
TO THE PURCHASER.

(R) "TIME-SHARE" MEANS A TIME-SHARE ESTATE OR TIME-SHARE
LICENSE.

(S) "TIME-SHARE ESTATE" MEANS THE OWNERSHIP DURING
SEPARATED TIME PERIODS, OVER A PERIOD OF AT LEAST 5 YEARS,
INCLUDING RENEWAL OPTIONS, OF A TIME-SHARE UNIT OR ANY OF SEVERAL
TIME-SHARE UNITS, WHETHER THE OWNERSHIP IS A FREEHOLD ESTATE OR
AN ESTATE FOR YEARS.

(T) "TIME-SHARE ESTATE PROJECT" MEANS THAT PORTION OF THE
PROJECT SET ASIDE FOR THE USE AND ENJOYMENT BY TIME-SHARE
PURCHASERS AS DESCRIBED IN THE TIME-SHARE PLAN OR TIME-SHARE