Arizona Laws 32-2197.24. Applicability of article
A. This article applies to all of the following:
Terms Used In Arizona Laws 32-2197.24
- Accommodation: means any apartment, condominium or cooperative unit, cabin, lodge, hotel or motel room, or other private or commercial structure containing toilet facilities that is designed and available for use and occupancy as a residence by one or more individuals and that is included in the offering of a timeshare plan. See Arizona Laws 32-2197
- Component site: means a specific geographic location where accommodations that are part of a multisite timeshare plan are located. See Arizona Laws 32-2197
- Exchange program: means any method, arrangement or procedure for the voluntary exchange of timeshare interests or other property interests. See Arizona Laws 32-2197
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Purchaser: means any person, other than a developer, who, by means of a voluntary transfer, acquires a legal or equitable interest in a timeshare plan other than a security for an obligation. See Arizona Laws 32-2197
- Timeshare period: means the period of time when the purchaser of a timeshare plan is afforded the opportunity to use the accommodations of a timeshare plan. See Arizona Laws 32-2197
- Timeshare plan: means any arrangement, plan or similar device, other than an exchange program, whether by membership agreement, sale, lease, deed, license or right-to-use agreement or by any other means, in which a purchaser, in exchange for consideration, receives ownership rights in or the right to use accommodations for a period of time less than a full year during any given year, but not necessarily for consecutive years. See Arizona Laws 32-2197
- Timeshare property: means one or more accommodations subject to the same timeshare instrument, together with any other property or rights to property appurtenant to those accommodations. See Arizona Laws 32-2197
1. A timeshare property located in this state.
2. Timeshare plans with an accommodation or component site in this state if those timeshare plans are sold or offered to be sold to any individual located in this state.
3. Timeshare plans without an accommodation or component site in this state if the timeshare plans are sold or offered to be sold to any individual located in this state.
B. This article does not apply to the following:
1. An exchange program except as provided in subsection C.
2. Timeshare plans consisting of fewer than twelve timeshare interests whether or not an accommodation is located in this state.
3. Timeshare plans the use of which extends over any period of less than three years.
4. Timeshare plans, whether or not an accommodation is located in this state, under which the prospective purchaser‘s total financial obligation will be less than one thousand five hundred dollars during the entire term of the timeshare plan.
C. A method, arrangement or procedure that meets the definition of an exchange program pursuant to section 32-2197 shall be regulated as a timeshare plan in accordance with this article if the purchaser’s total contractual financial obligation exceeds three thousand dollars for any individual, recurring timeshare period.