Section 18-14-302 - Contents of instruments establishing time-share estatesA project and time-share instrument that establishes a time-share estate located or offered in this state shall contain:
(1) The name of the county in which the property is situated;(2) The legal description, street address, or other description sufficient to identify the property;(3) Identification of time periods by letter, name, number, or combination thereof;(4) Identification of time-share estates and, when applicable, the method by which additional time-share estates may be established;(5) The formula, fraction, or percentage of the common expenses and any voting rights assigned to each time-share estate and, when applicable, to each accommodation in a project that is not subject to the time-share plan;(6) Restrictions on the use, occupancy, alteration, or alienation of time-share interests;(7) The ownership interest, if any, in personal property and for care and replacement;(8) Any other matters the developer considers appropriate; and(9)(A) Provisions concerning the establishment of a lien against an owner's time-share interest in favor of the association of time-share estate owners to secure payment of common expenses.(B) This lien when provided for in the time-share instrument is enforceable and foreclosable in the way other statutory liens are enforceable and foreclosable under the laws of this state.Amended by Act 2013, No. 710,§ 3, eff. 8/16/2013.Acts 1983, No. 294, Art. 2, § 2-102; A.S.A. 1947, § 50-1309.