North Carolina General Statutes 93A-49. Service of process on exchange company
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Any exchange company offering an exchange program to a purchaser shall be deemed to have made an irrevocable appointment of the Commission to receive service of lawful process in any proceeding against the exchange company arising under this Article. (1983, c. 814, s. 1.)
Terms Used In North Carolina General Statutes 93A-49
- Commission: The North Carolina Real Estate Commission. See North Carolina General Statutes 93A-41
- Exchange company: Any person operating an exchange program. See North Carolina General Statutes 93A-41
- Exchange program: Any method, arrangement, or procedure for the voluntary exchange of the right to use and occupy timeshare units among owners, even if enrollment is not voluntary. See North Carolina General Statutes 93A-41
- Purchaser: Any person, other than a developer, who is advertised or solicited to acquire a timeshare, offered a timeshare, or enters into a timeshare instrument to acquire a timeshare. See North Carolina General Statutes 93A-41