HARRY HUGHES, Governor

2991

(11)  DESCRIBE ANY PROPOSED OR UNCOMPLETED PRIVATE
FACILITIES OVER WHICH THE DEVELOPER HAS NO CONTROL UNLESS THE
ESTIMATED DATE OF COMPLETION IS SET FORTH AND EVIDENCE HAS BEEN
PRESENTED TO THE COMMISSION THAT THE COMPLETION AND OPERATION OF
THE FACILITIES ARE REASONABLY ASSURED WITHIN THE TIME REPRESENTED
IN THE ADVERTISEMENT; OR

(12)  DESCRIBE OR PORTRAY ANY IMPROVEMENT WHICH IS NOT
REQUIRED TO BE BUILT UNLESS THE DESCRIPTION OR PORTRAYAL OF THE
IMPROVEMENT IS CONSPICUOUSLY LABELED OR IDENTIFIED AS "NEED NOT
BE BUILT".

(C)   IT IS UNLAWFUL FOR ANY PERSON TO USE ANY PROMOTIONAL
DEVICE, INCLUDING SWEEPSTAKES, GIFT AWARDS, LODGING CERTIFICATES
OR DISCOUNTS, WITH THE INTENT TO SOLICIT THE ACQUISITION OF
TIME-SHARES WITHOUT DISCLOSING THAT PURPOSE.

(D)  A PERSON MAY NOT UTILIZE A PROMOTIONAL DEVICE TO
SOLICIT THE PURCHASE OF A TIME-SHARE OR OFFER MERCHANDISE OR
SERVICES TO ANY PROSPECTIVE PURCHASER WITHOUT CLEARLY DISCLOSING
THE RETAIL VALUE OF SUCH MERCHANDISE OR SERVICES. NO PROMOTIONAL
DEVICE MAY INVOLVE ANY ELEMENTS OF CHANCE AS TO THE SELECTION OR
AWARD OF PARTICULAR MERCHANDISE OR SERVICES TO ANY PROSPECTIVE
PURCHASER.

(E)   IT IS UNLAWFUL FOR ANY PERSON USING A PROMOTIONAL
DEVICE TO SOLICIT THE PURCHASE OF A TIME-SHARE TO FAIL TO AWARD
ALL ITEMS PROMISED IN SUCH PROMOTION BY THE DATE AND YEAR
SPECIFIED IN THE PROMOTION.

(F)  A PUBLIC OFFERING STATEMENT MAY NOT BE USED FOR
PROMOTIONAL PURPOSE BEFORE THE DEVELOPER IS REGISTERED AND
AFTERWARDS ONLY IF USED IN ITS ENTIRETY. NO PERSON MAY ADVERTISE
OR REPRESENT THAT THE COMMISSION HAS APPROVED OR RECOMMENDED THE
TIME-SHARES OR ANY OF THE DOCUMENTS CONTAINED IN THE APPLICATION
FOR REGISTRATION.

11A-120.

(A) IF AT THE TIME OF PURCHASE OF A TIME-SHARE, THE
PURCHASER IS PERMITTED THROUGH ANY ARRANGEMENT OF THE DEVELOPER
TO BECOME A MEMBER OF OR TO PARTICIPATE IN ANY PROGRAM FOR THE
EXCHANGE OF OCCUPANCY RIGHTS WITH OTHER TIME-SHARE PROJECTS, THE
PUBLIC OFFERING STATEMENT OR A SUPPLEMENT DELIVERED WITH THE
PUBLIC OFFERING STATEMENT SHALL DISCLOSE:

(1)  THE NAME AND ADDRESS OF THE EXCHANGE COMPANY;

(2)  THE NAMES OF ALL OFFICERS, DIRECTORS, AND
SHAREHOLDERS HOLDING MORE THAN 10 PERCENT OF THE VOTING STOCK OF
THE EXCHANGE COMPANY;

(3)  WHETHER THE EXCHANGE COMPANY OR ANY OF ITS
OFFICERS OR DIRECTORS HAS ANY LEGAL OR BENEFICIAL INTEREST IN ANY
DEVELOPER OR MANAGING ENTITY FOR ANY TIME-SHARE PROJECT