Section 44-3-168. Developer control period in time-share estate program

   (a) The time-share instruments for a time-share estate program may provide for a developer control period.

(b) If the time-share instruments for a time-share estate program provide for the establishment of a developer control period, they shall include provisions for the following:

   (1) Termination of the developer control period by action of the association;

   (2) Termination of contracts for goods and services for the time-share program or for units in the time-share program entered into during the developer control period; and

   (3) A regular accounting by the developer to the association as to all matters that significantly affect the interests of owners in the time-share program including, but not limited to, the current status of payments under any security deed, contracts for improvements, or other encumbrances.

Code 1981, § 44-3-168, enacted by Ga. L. 1983, p. 1255, § 1; Ga. L. 1986, p. 10, § 44; Ga. L. 1995, p. 1260, § 1.