California Business and Professions Code

§ 11272

BPC § 11272 Effective Jan 1, 2005Div. 4 · Part 2 · Ch. 2 · Art. 4

Statute text

(a)The following information concerning the time-share plan shall be made available to all time-share interest owners in the time-share plan:

(1)A proposed budget for each fiscal year consisting of the information required by Section 11240 shall be distributed not less than 15 days prior to the beginning of the fiscal year to which the budget applies.

(2)An audit of the financial statements of the association by an independent certified public accountant shall be performed each year and shall be made available upon request by a time-share owner 120 days after the close of the fiscal year. The audited financial statements shall be included in a report that includes all of the following:

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Legislative history

Added by Stats. 2004, Ch. 697, Sec. 14. Effective January 1, 2005. Section operative July 1, 2005, pursuant to Section 11288.