11003. Planned development

"Planned development" has the same meaning as specified in subdivision (k) of Section 1351 of the Civil Code.

(Added by Stats. 1965, Ch. 988. Repealed and Added by Stats. 1985, Ch. 874.)

11003.2. Stock cooperative

"Stock cooperative" has the same meaning as specified in subdivision (m) of Section 1351 of the Civil Code, except that, as used in this chapter, a "stock cooperative" does not include a limited-equity housing cooperative.

(Amended by Stats. 1979, Ch. 1068, Repealed and Added by Stats. 1985, Ch. 874.)

11003.5. Time-share project

(a) A "time-share project" is one in which a purchaser receives the right in perpetuity, for life, or for a term of years, to the recurrent, exclusive use or occupancy of a lot, parcel, unit, or segment of real property, annually or on some other periodic basis, for a period of time that has been or will be allotted from the use or occupancy periods into which the project has been divided.

(b) A "time-share estate" is a right of occupancy in a time-share project which is coupled with an estate in the real property.

(c) A "time-share use" is a license or contractual or membership right of occupancy in a time-share project which is not coupled with an estate in the real property.

(d) An "exchange program" is any method, arrangement, or procedure for the voluntary exchange of the right to use and occupy accommodations and facilities among purchasers of time-share interests or other property interests. An "exchange program" does not include the assignment of the right to use and occupy accommodations and facilities to purchasers of time-share interest pursuant to a reservation system. Any method, arrangement, or procedure that otherwise meets this definition, wherein the purchaser’s total contractual financial obligation exceeds three thousand dollars ($3,000) per time-share interest shall be regulated as a multisite time-share project and shall be subject to the provisions of this article.

(e) An "incidental benefit" is an accommodation, product, service, discount, or other benefit, other than an exchange program, which is offered to a prospective purchaser of a time-share interest prior to the end of the recission period set forth in Section 11024, the continuing availability of which for the use and enjoyment of owners of time-share interests in the time-share is limited to a term of not more than five years.

(f) A "multisite time-share project" is any method, arrangement, or procedure, with respect to which a purchaser obtains, by any means, a recurring right to use and occupy accommodations or facilities in a time-share project consisting of more than one component site, only through use of a reservation system, on a nonpriority basis. The term does not include an exchange program wherein the purchaser’s total contractual financial obligation does not exceed three thousand dollars ($3,000) per time-share interest or a single-site time-share project.

(g) A "reservation system" is the method, arrangement, or procedure by which a purchaser of a time-share interest, (1) in order to reserve the use and occupancy of any accommodation or facility of a multisite time-share project or qualified resort vacation club for one or more use periods is required to compete with other owners of time-share interests in that multisite time-share project or qualified resort vacation club or (2) in order to reserve the use and occupancy of any accommodation or facility of a component site associated with the single-site time-share project is required to compete with other owners of time-share interests in those component sites, regardless of whether that reservation system is operated and maintained by (A) the person responsible for the operation and administration of that time-share project, (B) an exchange company, or (C) any other person. In the event that an owner of a time-share interest is required to use an exchange program as the owner’s principal means of obtaining the right to use and occupy the accommodations and facilities of any time-share project, that arrangement shall be a reservation system.

(h) (1) A "single-site time-share project" is a time-share project consisting of a single geographic site wherein a purchaser of a time-share interest in that site receives a recurring right to reserve, on a priority basis, the use or occupancy of accommodations and facilities at that site. A single-site time-share project may be associated with other time-share projects, or other accommodations under a contractual or membership program through a reservation system.

(2) (A) A single-site time-share project shall not be deemed to be a multisite time-share project solely on the basis of the required use of a reservation system. If use of the reservation system is mandatory, the agreement for affiliation of the single-site time-share project shall provide for an initial term of not more than five years, and may further provide for automatic term renewals for additional successive terms of five years, unless at the duly noticed meeting of the membership of the association, or pursuant to an action without a meeting taken in accordance with subdivisions (a), (b), (c), and (d) of Section 7513 of the Corporations Code, a motion to terminate the reservation system affiliation agreement is approved by the membership pursuant to subparagraphs (B), (C) and (D).

(B) A motion on the question of termination of a reservation system affiliation agreement may be initiated by any person specified in subdivision (e) of Section 7510 of the Corporations Code, and shall be considered by the membership not more than 120 and not less than 30 days prior to expiration of its term.

(C) The quorum for any meeting of the membership to consider the termination of a reservation system affiliation agreement shall be not more than 30 percent of the noting power of the association residing in members other than the subdivider. The vote necessary to terminate the reservation system affiliation agreement in an action without a meeting or at a meeting at which a quorum is present by ballot, in person, or by proxy shall be the greater of (I) 25 percent of the noting power of the association residing in members other than the subdivider, or (ii) a majority of the voting power of the association voting at the meeting or in an action without a meeting by ballot, in person or by proxy, residing in members other than the subdivider.

(D) Notwithstanding subdivision (a) of Section 7513 of the Corporations Code, an action without a meeting on the question of termination of a reservation system affiliation agreement may be taken even if prohibited by the association’s articles or bylaws.

(E) The cost assessed to a time-share owner or to an association of time-share owners for the reservation system that is more than 10 percent greater than the reservation system assessment for the immediately preceding fiscal year may not be levied without the vote or written assent of the same percentage of voting power of the association set forth in subparagraph (C).

(Added by Stats. 1980, Ch. 601.; Added by Stats. 2000, Ch. 522.)

11004. Community apartment project

"Community apartment project" has the same meaning as specified in subdivision (d) of Section 1351 of the Civil Code.

(Added by Stats. 1955, Ch. 1013, Repealed and Added by Stats. 1985, Ch. 874.)

11010. Public report

(a) Except as otherwise provided pursuant to subdivision (c) or elsewhere in this chapter, any person who intends to offer subdivided lands within this state for sale or lease shall file with the Department of Real Estate an application for a public report consisting of a notice of intention and a completed questionnaire on a form prepared by the department.

(b) The notice of intention shall contain the following information about the subdivided lands and the proposed offering:

(1) The name and address of the owner.

(2) The name and address of the subdivider.

(3) The legal description and area of lands.

(4) A true statement of the condition of the title to the land, particularly including all encumbrances thereon.

(5) A true statement of the terms and conditions on which it is intended to dispose of the land, together with copies of any contracts intended to be used.

(6) A true statement of the provisions, if any, that have been made for public utilities in the proposed subdivision, including water, electricity, gas, telephone, and sewerage facilities.

(7) A true statement of the use or uses for which the proposed subdivision will be offered.

(8) A true statement of the provisions, if any, limiting the use or occupancy of the parcels in the subdivision.

(9) A true statement of the amount of indebtedness which is a lien upon the subdivision or any part thereof, and which was incurred to pay for the construction of any onsite or offsite improvement, or any community or recreational facility.

(10) A true statement or reasonable estimate, if applicable, or the amount of any indebtedness which has been or is proposed to be incurred by an existing or proposed special district, entity, taxing area, assessment district, or community facilities district within the boundaries of which, the subdivision, or any part thereof, is located, and which is to pay for the construction or installation of any improvement or to furnish community or recreational facilities to that subdivision, and which amounts are to be obtained by ad valorem tax or assessment, or by a special assessment or tax upon the subdivision, or any part thereof.

(11) (A) As to each school district serving the subdivision, a statement from the appropriate district that indicates the location of each high school, junior high school, and elementary school serving the subdivision, or documentation that a statement to that effect has been requested from the appropriate school district.

(B) In the event that, as of the date the notice of intention and application for issuance of a public report are otherwise deemed to be qualitatively and substantially complete pursuant to Section 11010.2, the statement described in subparagraph (A) has not been provided by any school district serving the subdivision, the person who filed the notice of intention and application for issuance of a public report immediately shall provide the department with the name, address, and telephone number of that district.

(12) The location of all existing airports, and of all proposed airports shown on the general plan of any city or county, located within two statute miles of the subdivision.

(13) A true statement, if applicable, referencing any soils or geologic report or soils and geologic reports that have been prepared specifically for the subdivision.

(14) A true statement of whether or not fill is used, or is proposed to be used in the subdivision and a statement giving the name and the location of the public agency where information concerning soil conditions in the subdivision is available.

(15) Any other information that the owner, his or her agent, or the subdivider may desire to present.

(c) The commissioner may, by regulation, or on the basis of the particular circumstances of a proposed offering, waive the requirement of the submission of a completed questionnaire if the commissioner determines that prospective purchasers or lessees of the subdivision interests to be offered will be adequately protected through the issuance of a public report based solely upon information contained in the notice of intention.

(Amended by Stats. 1988, Ch. 1365; Amended by Stats. 1989, Ch. 1209. Effective October 1, 1989; Amended by Stats. 1991, Ch. 263.)

Note: Stats. 1989, Ch. 1209 also reads:

SEC 2. The Legislature finds and declares as follows:

(a) Certain school districts in this state are recipients of state school construction apportionments under the State School Building Aid Law of 1952. Each of those recipient districts is required under statute to make specified repayments to the state on the basis of a designated property tax rate to be applied to property within the district.

(b) The school facilities funding program currently employed by this state is the Leroy F. Greene State School Building Lease-Purchase Law of 1976, under which sufficient funding is not available to meet the school facilities needs of school districts throughout the state.

(c) The application of local funding sources to district school facilities needs is encouraged, therefore, in order to alleviate the statewide demand on the state program of school facilities funding. Pursuant to that purpose, the statutory repayment schedule applicable under the State School Building Aid Law of 1952 should be revised so as to reduce the property tax rate in a qualified recipient school district, thus facilitating the approval of a general obligation bond measure within the district.

(Amended by Stats. 1989, Ch. 1209. Effective October 1, 1989.)