§ 34-41-3.03. Powers and duties in absence of managing entity.
The developer has the duties imposed on the managing entity by this chapter and the powers listed in § 34-41-3.02(a)(1) — (11) until a managing entity is provided or the developer and his or her affiliates own no estate or interest in the time-share property. Thereafter, if there is no managing entity and the number of time shares in the time-share property is twelve (12) or fewer, the time-share owners have those powers subject to any provisions of the time-share instrument relating to the manner of the exercise thereof and have the responsibilities and liabilities of an association for the purposes of §§ 34-41-3.06 and 34-41-3.07. To the extent that the time-share instrument is silent with respect to the manner of exercise of any of those powers, the time-share owners may exercise them only by unanimous action.
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.