Section 356-B:49 Exemptions.
I. Unless the method of disposition is adopted for the purpose of evasion of this chapter, the provisions of this subdivision do not apply to offers or dispositions of any interest in a condominium unit:
(a) If not more than 10 units are included in the condominium; provided, however, this exemption shall not apply to a condominium involving time sharing interests;
(b) If all of the units are restricted to commercial, industrial or other nonresidential use;
(c) Pursuant to court order; and
(d) By any government or government agency.
II. Unless the method of disposition is adopted for the purpose of evasion of this chapter, the provisions of RSA 356-B:50-55; 56, I; 56, III, and 58 do not apply to offers by the declarant in connection with efforts to obtain nonbinding reservation agreements; provided, however, that any such declarant shall first have notified the attorney general in writing of its intention to conduct such efforts.
III. The attorney general may from time to time, in accordance with rules adopted by him pursuant to RSA 541-A, exempt from any one or more of the provisions of this chapter any condominium if he finds that the enforcement of this chapter with respect to such project is not necessary in the public interest and for the protection of purchasers by reason of the small amount involved or the limited character of the offering, or because such condominium has been registered and approved pursuant to the laws of any other state. Applications for exemption shall be filed in a form prescribed by the attorney general and shall be accompanied by an application fee of $200.
Source. 1977, 468:1. 1979, 289:2. 1983, 469:81. 1985, 300:7, I(b).