Subject to Section 57-19-17, if the director finds that an applicant or developer has engaged in an act described in Subsection (2), the director may:
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Terms Used In Utah Code 57-19-13
Amendment: means a change to an approved registration that is required under Section 57-19-9 or by a division rule made under this chapter. See Utah Code 57-19-2
Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Association: means an organized body consisting solely of owners of timeshare interests in a timeshare development, including developers or purchasers. See Utah Code 57-19-2
Contract: A legal written agreement that becomes binding when signed.
Developer: means a person that:
(a)
establishes, owns, offers, sells, or operates a timeshare development or camp resort; or
(b)
engages one or more other persons to establish, own, offer, sell, or operate a timeshare development or camp resort on the person's behalf. See Utah Code 57-19-2
Division: means the Division of Real Estate of the Department of Commerce. See Utah Code 57-19-2
Fraud: Intentional deception resulting in injury to another.
Interest: includes a membership agreement, sale, lease, deed, license, or right-to-use agreement. See Utah Code 57-19-2
Offer: means a solicitation solely intended to result in a person purchasing an interest in a development. See Utah Code 57-19-2
Purchaser: means a person who purchases an interest in a development. See Utah Code 57-19-2
Registration: means :
(a)
for a development, an approved application for registration described in Section 57-19-5; or
(b)
for a salesperson, an approved application for registration described in Section 57-19-15. See Utah Code 57-19-2
Subpoena: A command to a witness to appear and give testimony.
(a)
deny an application for registration of a development;
(b)
suspend or revoke an existing registration; or
(c)
except as provided in Subsection (3), impose a fine of not more than $5,000.
(2)
Subsection (1) applies if the director finds that:
(a)
the developer’s advertising or sales techniques or trade practices have been or are deceptive, false, or misleading;
(b)
the developer fails to file a copy of the developer’s sales contract forms as required under Section 57-19-8;
(c)
the developer fails to comply with any provision of this chapter or any rule adopted under this chapter that materially affects or would affect the rights of a purchaser or prospective purchaser of an interest in a development, or that materially affects the administration of this chapter;
(d)
the developer makes a fraudulent offer of an interest in a development to a purchaser or prospective purchaser of the interest;
(e)
the developer’s application or any amendment to an application is incomplete in any material respect;
(f)
the developer’s application or any amendment to an application contains material misrepresentations or omissions of material fact that are necessary to make the statements contained in the application or amendment not misleading;
(g)
the developer or any officer or director of the developer has been:
(i)
convicted of a felony, or any misdemeanor involving theft, fraud, or dishonesty;
(ii)
enjoined from, assessed a civil penalty for, or found to have engaged in a violation of any law designed to protect consumers; or
(iii)
engaged in dishonest practices in any industry involving sales to consumers;
(h)
the developer has represented or is representing to purchasers in connection with the offer or sale of an interest in a development that any accommodations, related facilities, or amenities are planned, without reasonable grounds to believe that they will be completed within a reasonable time;
(i)
the developer disposes, conceals, or diverts any funds or assets so as to defeat the rights of purchasers;
(j)
the developer fails to provide to a purchaser a copy of the written disclosure required by Section 57-19-11; or
(k)
the developer, the developer’s successor in interest, or a managing association discloses a purchaser’s name, address, or email address to an unaffiliated entity without first obtaining written consent from the purchaser, unless the disclosure is in response to a subpoena or an order of a court or administrative tribunal.
(3)
The authority to impose a fine under this section does not apply to Subsection (2)(e).
(4)
Notwithstanding Subsection (2)(k), a developer shall, upon request by the division, provide the division a list of each purchaser’s name, address, and email address.
