A developer shall not advertise the sale of, or enter into an agreement or contract for the sale of any condominium unit unless:
A. A property report is available for distribution to prospective purchasers.
B. Copies of all documents that were filed or required to be filed in connection with the condominium project with the registrar of titles or recorder of deeds of the county in which the property is located are available to prospective purchasers.
C. A copy of the property report, and any amendments, modifications and supplements thereto have been given to the prospective purchaser upon his visit to the site or upon his request for information.
D. The prospective purchaser has been given an opportunity to read the property report.
E. A receipt signed by the prospective purchaser has been received by the developer or agent acknowledging that the prospective purchaser has received and has had an opportunity to review the property report. Such receipts are to be kept on file in the possession of the developer for a period of three (3) years from the date of signature of the prospective purchaser and such receipts are subject to the inspection by the department at any reasonable time.
F. The property report, and any amendments and supplements thereto, are available for inspection by the public, and copies of same have been delivered to the department. (Ord. 88-2-3)