Limits on developer right to transfer
(1) A developer may not transfer the developer’s interest in accommodations or facilities of a timeshare plan unless the transferee, as to each owner whose interest is involved in the transfer, agrees to:
(a) Honor the right of each owner to occupy and use the accommodations and facilities;
(b) Honor the right of a purchaser to cancel a contract and receive an appropriate refund, as provided in ORS 94.836 (Cancellation of purchase within five days);
(c) Comply with ORS 94.803 (Definitions for ORS 94.803 and 94.807 to 94.945) and 94.807 (Application) to 94.945 (Advertising regulation) as long as the transferee continues to sell the timeshare plan, or as long as the owner is entitled to occupy the accommodations or use the facilities; and
(d) Assume all of the developer’s obligations to the owners under the timeshare instrument.
(2) Within 30 days after the transfer of the developer’s interest, notice of the transfer shall be mailed to each owner.
(3) A person holding a blanket encumbrance on the property constituting timeshare property is not a transferee for purposes of this section, if the person has executed and recorded a nondisturbance agreement in accordance with ORS 94.885 (Rights of lienholder). [1983 c.530 §17]
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information