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RHODE ISLAND STATUTES AND CODES
§ 34-41-5.05 - Annual report and amendments.
SECTION 34-41-5.05
§ 34-41-5.05 Annual report and amendments.– (a) A developer within thirty (30) days after the anniversary date of the orderof registration, annually shall file a report to bring up to date the materialcontained in the application for registration and the public offeringstatement. This provision does not relieve the developer of the obligation tofile amendments pursuant to subsection (b).
(b) A developer promptly shall file amendments to the publicoffering statement with the agency.
(c) If an annual report reveals that a developer owns orcontrols time shares representing less than twenty-five percent (25%) of thetime shares in the time-share units and that a developer has no power toincrease the number of time shares in the units, the agency shall issue anorder relieving the developer of any further obligation to file annual reports.