Section 34-41-4.01 - Applicability - Exemptions(a) This Article applies to all time shares subject to this chapter except as provided in subsection (b).(b) Neither a public offering statement nor the materials required by § 34-41-4.07 (Resale of Time Shares) need be prepared or delivered in the case of: (1) A gratuitous disposition of a time share;(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;(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 wholly outside this state, if there has been no offering within this state;(7) An offering by a developer of time shares in no more than one time-share unit at any one time; or(8) A disposition of a time-share property or all time shares therein to one purchaser.R.I. Gen. Laws § 34-41-4.01