If the declaration provides that ownership or occupancy of any units is or may be in time shares, the public offering statement shall disclose, in addition to the information required by § 34-41-4.03: (1) The number and identity of 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; and (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 § 34-36.1-3.16.
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