61B-40.002 — Scope

Administrative rule 61B-40.002 establishes the scope of Chapter 61B-40, which governs timeshare accounting, financial reporting requirements, books, records, budgets, guarantees, and reserves.

The rule defines the jurisdictional boundaries of Chapter 61B-40 and identifies the subjects covered: accounting and financial reporting standards, maintenance of books and financial records, budget requirements, guarantee provisions, reserve requirements, and financial reporting obligations for timeshare plans.

Timeshare plans and their operators.

Effective December 18, 2001.