66-32-126 - Exceptions from registration requirement.
66-32-126. Exceptions from registration requirement.
No registration with the commission shall be required in the case of:
(1) Any transfer of a time-share interval by any time-share interval owner other than the developer and/or the developer's agent;
(2) Any 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 of a time-share interval in a time-share project situated wholly outside this state; provided, that all solicitations, negotiations, and contacts took place wholly outside this state and the contract was executed wholly outside this state;
(6) A gratuitous transfer of a time-share interval; or
(7) Group reservations made for fifteen (15) or more people as a single transaction between a hotel and travel agent or travel groups for hotel accommodations, where deposits are made and held for more than three (3) years in advance.
[Acts 1981, ch. 372, § 27; T.C.A., § 64-3227.]