HARRY HUGHES, Governor

3353

(3) (I) IF ANY PENALTY IS NOT PAID IN FULL WITHIN 30
DAYS AFTER BECOMING FINAL, THE COMMISSION MAY SUMMARILY REVOKE
THE DEVELOPER'S REGISTRATION, AND THE COMMISSION OR THE STATE
CENTRAL COLLECTION UNIT MAY BRING SUIT IN THE DISTRICT COURT OR
OTHER COURT OF COMPETENT JURISDICTION TO ENFORCE PAYMENT.

(II) A JUDGMENT SHALL BE ENTERED AGAINST THE
DEVELOPER UPON A SHOWING THAT:

1.  THE PENALTY WAS ASSESSED AGAINST THE
DEVELOPER;

2.  THE PENALTY HAS BECOME FINAL;

3.  NO APPEAL IS PENDING;

4.  THE PENALTY REMAINS UNPAID IN WHOLE OR
PART; AND

5.  THE DEVELOPER CONTESTED THE CHARGE FOR
WHICH THE PENALTY WAS ASSESSED, OR WAS DULY SERVED WITH A COPY OF
THE CHARGE UNDER ANY APPLICABLE RULES AND REGULATIONS OF THE
COMMISSION.

11A-123.

Persons engaged in the following transactions involving
time-shares are not required to register with the Commission, to
prepare a public offering statement, or to deliver documents
described in § 11A-115:

(1)  A gratuitous disposition;

(2)  A disposition pursuant to court order;

(3)  A disposition by a government or governmental
agency;

(4)  A disposition by foreclosure or deed in lieu of
foreclosure or by enforcement of a lien or security interest;

(5)  A disposition that may be canceled at any time
and for any reason by the purchaser without penalty;

(6)  A disposition of a time-share in a unit situated
wholly outside this State pursuant to a contract executed AND
NEGOTIATED wholly outside this State; or

(7)  A disposition of a time-share project or all
time-shares therein to 1 purchaser.

11A-127.

(a) This title applies to all time-share projects in the
State except to the extent of any inconsistent right or