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ARKANSAS REAL ESTATE COMMISSION (Arkansas Real Estate Commission)

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Application for Timeshare Program – Arkansas 1
ARKANSAS REAL ESTATE COMMISSION
612 South Summit Street
Little Rock, AR 72201-4701
(501) 683-8010
Website www.arec.arkansas.gov
APPLICATION FOR REGISTRATION OF A TIME-SHARE PLAN
Attach additional sheets if necessary.
1. Furnish the following information concerning the Developer:
Name: ________________________________________________________________________
Principal Office Address: _________________________________________________________
______________________________________________________________________________
On-Site Address (if different from above):______________________________________________
______________________________________________________________________________
Name of Responsible Person(s) for Contact Purposes: __________________________________
______________________________________________________________________________
Telephone Number: ( )_____________________________________________________
Email/Website:______________________________________/___________________________
Name of Time-Share Plan:_________________________________________________________
Which describes the type of Plan: (Check the following)
□ Single Site
□ Multi-Site
o Specific time-share interest
o Non-specific time-share interest
o Other:_________________________________________________________________
2. Attach a complete copy of the Public Offering Statement pursuant to Arkansas Code Ann.
§18-14-404.
3. Give a complete legal description of all real estate included in the time-share plan.
4. Furnish a brief description of the time-share property which is the subject of this registration.
5. Specify the type of time-share interest: Estate □ Use □
6. Attach copies of all time-share instruments pursuant to Arkansas Code Ann. §18-14-302 or §18-
14-305, whichever is applicable.
7. Attach a copy of the architect’s drawings, recorded plat, or other information showing the layout
of all units in the project.
Print Form
Application for Timeshare Program – Arkansas 2
8. State with which requirements of Arkansas Code Ann. §18-14-204 (b) the Developer will
comply, if the time-share property units are in a condominium development or other common
interest subdivision.
9. Attach a current financial statement that is certified by a Certified Public Accountant or a
Registered Public Accountant who shall state that in his/her opinion the financial statement
presents fairly the financial position of the Developer or the entity for which the certification is
rendered.
10. Provide an Attorney’s Opinion or Title Insurance Policy identifying Developer’s ownership
interest to the property, and identifying all mortgages, liens, encumbrances, or exceptions to
Developer’s ownership interest. If any mortgage, lien, or other encumbrance on Developer’s
ownership interest is not fully explained in the Attorney’s Opinion of Title, and/or a Title
Insurance Policy, attach a copy of it.
11. Advise concerning with which requirements of Arkansas Code Ann. §18-14-410 the Developer
will comply if the property is subject to blanket encumbrances and/or liens.
12. Provide a complete disclosure of the time-share management plan pursuant to Arkansas Code
Ann. §18-14-303 or §18-14-306, whichever is applicable.
If there is a Developer Control Period, provide the information required by Arkansas Code Ann.
§18-14-304.
13. Furnish the following information concerning registration of Acquisition Agent, Broker,
Managing Agent, and Exchange Agent pursuant to Arkansas Code Ann. §18-14-202.
(a) ACQUISITION AGENT:
(I) Name: ___________________________________________________________
(II) Principal Office Address: ____________________________________________
_________________________________________________________________
(III) Telephone Number: ________________________________________________
(IV) Email Address:__________________________________________________________
(V) Name of Responsible Managing Employee: _____________________________
(VI) Bond
(b) BROKER:
(I) Name: ___________________________________________________________
(II) Principal Office Address:__________ __________________________________
_________________________________________________________________
(III) Telephone Number: ________________________________________________
(IV) Email Address:_____________________________________________________
(V) Name of Supervising Broker: _________________________________________
(VI) Attach a list of all Sales Agents licensed with the firm.
(VII) Provide the name and address of the bank or other institution where the Escrow
Account required by Arkansas Code Ann. §18-14-407 (a) is established:
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
(VIII) Bond
Application for Timeshare Program – Arkansas 3
(c) MANAGING AGENT:
(I) Name: ___________________________________________________________
(II) Principal Office Address:_____________________________________________
(III) Telephone Number: ________________________________________________
(IV) Email Address:_____________________________________________________
(V) Name of Responsible Managing Employee:______________________________
(VI) Bond
(d) EXCHANGE AGENT:
(I) Name: ___________________________________________________________
(II) Principal Office Address:_____________________________________________
(III) Telephone Number: ________________________________________________
(IV) Email Address:____________________________________________________
(V) Name of Responsible Managing Employee or the person to whom any contact is
to be made: _______________________________________________________
(e) Are the Acquisition Agent, Broker, or Managing Agent under the control of a subsidiary
or an affiliate of the Developer?
Yes No
(I) If yes, the Bond may be consolidated and reduced to Fifty Thousand Dollars
($50,000.00).
14. Are you accepting reservations? Yes No
(a) If yes, provide the location of the Escrow Account required by Arkansas Code Ann. §18-
14-202 (a):
________________________________________________________________________
________________________________________________________________________
15. Is the time-share plan “substantially complete” as defined in Arkansas Code Ann. §18-14-408(b)?
Yes No
(a) If no, advise concerning with which requirement of Arkansas Code Ann. §18-14-408(a)
the Developer will comply to ensure completion of the time-share project. (Provide
documentation.)
16. Attach a copy of all contracts, notes, mortgages, agreements, deeds, and any other documents to
be used in effectuating the transfer of title to the time-share interval purchaser.
17. FEES:
The Application for Registration shall be accompanied by a fee of Seven Hundred and Fifty
Dollars ($750.00).
Amount of fee enclosed: $___________________
Submitted By:
______________________________________________________________________________
(Name and Title)
__________________________________________________Date________________________
(Signature)
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ARKANSAS REAL ESTATE COMMISSION (Arkansas Real Estate Commission)

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Completed 28 December 2021

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