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PARRIS N. GLENDENING, Governor
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Ch. 63
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(B) IN DETERMINING THAT THE TIME-SHARES WILL NOT TERMINATE AT THE
END OF THE TERM OF THE TIME-SHARE PLAN, AN ASSOCIATION MAY:
(1) ESTABLISH A LATER TERMINATION DATE OR DECIDE THAT THERE
WILL BE NO TERMINATION DATE; AND
(2) PROVIDE THAT ON OR AFTER THE ORIGINAL TERMINATION DATE AS
SET FORTH IN THE TIME-SHARE INSTRUMENT, A TIME-SHARE OWNER SHALL
CONTINUE TO:
(I) HAVE EXCLUSIVE RIGHTS TO USE, OCCUPY, SELL, CONVEY,
ASSIGN, MORTGAGE, EXCHANGE, OR PASS BY WILL OR INHERITANCE, ANY
TIME-SHARES OWNED BY THE PERSON;
(II) USE AND ENJOY ALL THE COMMON ELEMENTS OF THE
TIME-SHARE PROJECT; AND
(III) HAVE THE PREVIOUSLY EXISTING RIGHTS AND DUTIES IN THE
ASSOCIATION INCLUDING THE RIGHT TO VOTE AND THE DUTY TO PAY CHARGES AND
ASSESSMENTS.
(C) A PERSON TO WHOM A TIME-SHARE IS TRANSFERRED BY SALE,
CONVEYANCE, ASSIGNMENT, MORTGAGE, DEVISE, BEQUEST, OR INHERITANCE
SHALL HAVE THE RIGHTS AND DUTIES OF THE PERSON FROM WHOM THE
TIME-SHARE WAS TRANSFERRED.
(D) THE PROVISIONS OF THIS SECTION APPLY EVEN IF, UNDER THE TERMS OF
A TIME-SHARE DEED OR TIME-SHARE INSTRUMENT, THE TIME-SHARE OWNERS
HAVE OR WILL BECOME OWNERS AS TENANTS IN COMMON OF A TIME-SHARE UNIT
OR PROJECT.
(E) AN ASSOCIATION MAY NOT TAKE AN ACTION PROVIDED FOR IN
SUBSECTION (A) OF THIS SECTION UNLESS THE NOTICE OF THE MEETING SENT TO
THE TIME-SHARE OWNERS EXPRESSLY STATES THAT THE ACTION MAY BE
CONSIDERED AT THE MEETING.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 2002.
Approved April 9, 2002.
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CHAPTER 63
(House Bill 393)
AN ACT concerning
Prince George's County - Southern Maryland Youth Camp Loan of 2001
FOR the purpose of altering the purpose of the grant to the Board of Directors of the
Southern Maryland Youth Camp, Inc., pursuant to Chapter 651 of the Acts of
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- 1163 -
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