Ark. Code Ann. § 18-14-306

Provisions for Management and Operation of Time-Share Use Plans

No plain-English summary yet for this section. Read the statutory text below or open the official source.

Statutory text

The time-share instruments for a time-share use plan containing accommodations offered in this state shall prescribe reasonable arrangements for the management and operation of the time-share plan and for the maintenance, repair, and furnishing of accommodations including:

Standards and procedures for upkeep, repair, and interior furnishing of accommodations and for maid, cleaning, linen, and similar services to the accommodations during use periods;

Adoption of standards and rules of conduct governing the use and occupancy of accommodations by owners;

Payment of the costs and expenses of operating the time-share plan and owning and maintaining the accommodations;

Selection of a managing agent;

Preparation and dissemination to owners of an annual budget, operating statements, and other financial information concerning the time-share plan or time-share property;

Procedures for establishing the rights of owners to the use of accommodations by prearrangement or under a first-reserved, first-served priority system;

Organization of a management advisory board consisting of time-share use owners, including an enumeration of rights and responsibilities of the board;

Procedures for imposing and collecting assessments or use fees from time-share use owners as necessary to defray costs of management of the time-share plan and providing materials and services to the accommodations;

Comprehensive general liability insurance for death, bodily injury, and property damage arising out of, or in connection with, the use of accommodations by time-share use owners, their guests, and other users;

Methods for providing compensating use periods or monetary compensation to an owner if an accommodation cannot be made available for the period to which the owner is entitled by schedule or by a confirmed reservation; and

(A) Procedures for imposing a monetary penalty or suspension of an owner's rights and privileges in the time-share plan for failure of the owner to comply with the time-share instruments or the rules established by the developer concerning the use of the accommodations. (B) The owner shall be given notice and the opportunity to refute or explain the charges, in person or in writing, to the management advisory board before a decision to impose discipline is rendered.

Synced from the Florida Legislature’s official site. Verify the current version before citing.

Does your association comply?

Run your governing documents through the compliance scan. It checks them against the rules that apply in your state.

Run the compliance scan

Put this statute to work

Free tools for Arkansas boards and owners. No account needed.

Governing Document AnalyzerUpload your CC&Rs, declaration, or bylaws for an instant scan of clauses your state statute or federal law may have already overridden.

Free account

A free account adds bookmarks, PDF export, uploaded governing documents, and side-by-side search with Florida statutes.

Bookmark statute sections you cite in meetings
Upload CC&Rs and bylaws with the same section finder
Ask questions in the Common Area forum

Common Elements is the platform for the community association industry, centered on the associations themselves: the record of each association, the people and professionals who live in, run, manage, and serve them, and the tools, data, and education they use to work together. It complements the management and accounting software you already use; it does not replace it.

Provisions for Management and Operation of Time-Share Use Plans

Statutory text

Does your association comply?

Put this statute to work

Community discussion

Watch this statute

Your governing documents

More Arkansas statutes

Statutory text

Does your association comply?

Put this statute to work

Save your place and go deeper

Community discussion

Watch this statute

Your governing documents

More Arkansas statutes