§ 34-41-3.01. Managing entity.
(a) If the number of time shares in a time-share property is more than twelve (12), the developer, before the first transfer of a time-share, must create or provide a managing entity to manage the time-share property. The managing entity may be (i) a manager, who may be the developer, or, (ii) an association, which must be a profit or non-profit corporation or an unincorporated association, the membership of which must at all times consist exclusively of all the time-share owners. If the time-share property is part of a project containing time-share units and other units, the manager may be the entity that governs the project. If the number of time shares in the time-share property is twelve (12) or fewer and there is no managing entity, the time-share owners may form an association meeting the requirements specified above.
(b) In the absence of a managing entity required by this section, a court upon application of a party in interest, including a time-share owner or a lienholder, may appoint and prescribe the powers of a managing entity.
History of Section.P.L. 1984, ch. 141, § 2.
Structure Rhode Island General Laws
Chapter 34-41 - Rhode Island Real Estate Time-Share Act
Article III - Management of the Time-Share Property
Section 34-41-3.01. - Managing entity.
Section 34-41-3.02. - Powers of managing entity.
Section 34-41-3.03. - Powers and duties in absence of managing entity.
Section 34-41-3.04. - Transfer of special developer rights.
Section 34-41-3.05. - Termination of contracts and leases of developer.
Section 34-41-3.06. - Upkeep of units.
Section 34-41-3.07. - Tort and contract liability.
Section 34-41-3.08. - Insurance.
Section 34-41-3.09. - Surplus funds.
Section 34-41-3.10. - Assessments for time-share expenses.
Section 34-41-3.11. - Lien for assessments.
Section 34-41-3.12. - Financial records.
Section 34-41-3.13. - Authority of trustee.
Section 34-41-3.14. - Initiative, referendum, and recall — General provisions.
Section 34-41-3.15. - Direct initiative by owners.