Section 123 - Persons not required to register. - Maryland Statutes

§ 11A-123. Persons not required to register.
 

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 of this title: 

(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 one purchaser. 
 

[1984, ch. 579; 1985, ch. 721; 2002, ch. 19, § 10; 2009, ch. 60, § 5.]