If the declaration permits time shares, the disclosure statement shall contain or disclose, in addition to the information required by sections 515B.4-102 and 515B.4-103:
(1) the unit identifiers of the units in which time shares may be created;
(2) the total number of time shares that may be created;
(3) the minimum duration of any time shares that may be created;
(4) the extent to which the creation of time shares will or may affect the enforceability of the association's lien for assessments provided in section 515B.3-116;
(5) a statement as to whether the time share interest is a fixed time period in a designated unit or if either the time period or unit may vary;
(6) copies of all organizational documents, contracts, leases and other documents affecting the time share association or the time shares, or the purchaser's rights therein;
(7) any state or federal ruling or nonaction letter regarding the classification of the time shares as a security or a statement that there is no ruling or nonaction letter;
(8) a statement as to whether the time share is registered with the state under the Subdivided Land Sales Act or with the federal government under the Interstate Land Sales Act and, if the time share is so registered, a copy of the public offering statement or other disclosure document required by those acts; and
(9) if the time share owners are to be permitted or required to become members of or to participate in a program for the exchange of occupancy rights among themselves or with the owners of time shares in other projects or both, a general description of the program.
1993 c 222 art 4 s 4; 2010 c 267 art 4 s 3
Structure Minnesota Statutes
Chapters 500 - 515B — Property And Property Interests
Chapter 515B — Minnesota Common Interest Ownership Act
Section 515B.1-101 — Short Title.
Section 515B.1-102 — Applicability.
Section 515B.1-103 — Definitions.
Section 515B.1-104 — Variation By Agreement.
Section 515B.1-105 — Separate Titles And Taxation.
Section 515B.1-106 — Applicability Of Local Requirements.
Section 515B.1-107 — Eminent Domain.
Section 515B.1-108 — This Chapter Prevails; Supplemental Law.
Section 515B.1-109 — Construction Against Implicit Repeal.
Section 515B.1-1105 — Vacation Of Abutting Publicly Dedicated Property.
Section 515B.1-112 — Unconscionable Agreement Or Term Of Contract.
Section 515B.1-113 — Obligation Of Good Faith.
Section 515B.1-114 — Remedies To Be Liberally Administered.
Section 515B.1-116 — Recording.
Section 515B.2-101 — Creation Of Common Interest Communities.
Section 515B.2-102 — Unit Boundaries.
Section 515B.2-103 — Construction And Validity Of Declaration And Bylaws.
Section 515B.2-104 — Description Of Units.
Section 515B.2-105 — Declaration Contents; All Common Interest Communities.
Section 515B.2-106 — Declaration Of Flexible Common Interest Communities.
Section 515B.2-107 — Declaration Of Leasehold Common Interest Communities.
Section 515B.2-108 — Allocation Of Interests.
Section 515B.2-109 — Common Elements And Limited Common Elements.
Section 515B.2-110 — Common Interest Community Plat (cic Plat); Cic Created Before August 1, 2010.
Section 515B.2-111 — Expansion Of Flexible Common Interest Community.
Section 515B.2-112 — Subdivision, Combination, Or Conversion Of Units.
Section 515B.2-113 — Alteration Of Units.
Section 515B.2-114 — Relocation Of Boundaries Between Adjoining Units.
Section 515B.2-115 — Minor Variations In Boundaries.
Section 515B.2-116 — Use For Sales Purposes.
Section 515B.2-117 — Declarant's Easement Rights.
Section 515B.2-118 — Amendment Of Declaration.
Section 515B.2-119 — Termination Of Common Interest Community.
Section 515B.2-120 — Rights Of Secured Parties.
Section 515B.2-121 — Master Associations.
Section 515B.2-122 — Merger Or Consolidation Of Common Interest Communities.
Section 515B.2-123 — Change Of Form Of Common Interest Community.
Section 515B.2-124 — Severance Of Common Interest Community.
Section 515B.2-125 — Addition Of Common Elements.
Section 515B.3-101 — Organization Of Unit Owners' Association.
Section 515B.3-102 — Powers Of Unit Owners' Association.
Section 515B.3-103 — Board Of Directors, Officers And Declarant Control.
Section 515B.3-105 — Termination Of Contracts, Leases; Cic Created Before August 1, 2010.
Section 515B.3-106 — Bylaws; Annual Report.
Section 515B.3-107 — Upkeep Of Common Interest Community.
Section 515B.3-108 — Meetings.
Section 515B.3-110 — Voting; Proxies.
Section 515B.3-111 — Tort And Contract Liability.
Section 515B.3-112 — Conveyance Of, Or Creation Of Security Interests In, Common Elements.
Section 515B.3-113 — Insurance.
Section 515B.3-114 — Reserves; Surplus Funds.
Section 515B.3-1141 — Replacement Reserves.
Section 515B.3-115 — Assessments For Common Expenses; Cic Created Before August 1, 2010.
Section 515B.3-1151 — Assessments For Common Expenses; Cic Created On Or After August 1, 2010.
Section 515B.3-116 — Lien For Assessments.
Section 515B.3-117 — Other Liens.
Section 515B.3-118 — Association Records.
Section 515B.3-119 — Association As Trustee.
Section 515B.3-120 — Declarant Duties; Turnover Of Records.
Section 515B.3-121 — Accounting Controls.
Section 515B.4-101 — Applicability; Delivery Of Disclosure Statement.
Section 515B.4-102 — Disclosure Statement; General Provisions; Cic Created Before August 1, 2010.
Section 515B.4-103 — Common Interest Communities Subject To Rights To Add Additional Real Estate.
Section 515B.4-104 — Time Shares.
Section 515B.4-105 — Common Interest Community With Building Once Occupied.
Section 515B.4-106 — Purchaser's Right To Cancel.
Section 515B.4-107 — Resale Of Units.
Section 515B.4-108 — Purchaser's Right To Cancel Resale.
Section 515B.4-109 — Escrow Deposits.
Section 515B.4-110 — Obligation To Release Liens.
Section 515B.4-111 — Conversion Property.
Section 515B.4-112 — Express Warranties.
Section 515B.4-113 — Implied Warranties.
Section 515B.4-114 — Exclusion Or Change Of Implied Warranties.
Section 515B.4-115 — Statute Of Limitations For Warranties; Cic Created Before August 1, 2010.
Section 515B.4-1152 — Statute Of Limitations For Warranties; Cic Created On Or After August 1, 2011.
Section 515B.4-116 — Rights Of Action; Attorney's Fees.
Section 515B.4-117 — Labeling Of Promotional Material.
Section 515B.4-118 — Declarant's Obligation To Complete And Restore.