A. Whether a timeshare is a timeshare estate or timeshare license, a timeshare shall constitute real estate and the offer or sale thereof shall constitute the offer or sale of an interest in real property.
B. No sales agent or acquisition agent shall solicit or encourage others to attend a timeshare sales presentation or to contact a timeshare sales agent or developer unless said sales agent or acquisition agent is a licensed real estate salesman or real estate broker pursuant to the laws of the state of Idaho and the rules and regulations of the Idaho real estate commission 1 .
C. No sales agent or acquisition agent shall in any way involve himself in the sale of a timeshare unless said sales agent or acquisition agent is a licensed real estate salesman or real estate broker pursuant to the laws of the state of Idaho and the rules and regulations of the Idaho real estate commission.
D. A developer may be involved in the entire sales process of a timeshare without being a real estate salesman or real estate broker; provided, that no employee of the developer shall solicit or encourage others to attend a timeshare sales presentation or to contact a timeshare sales agent or developer or to be involved in any way in the sale of a timeshare if not a licensed real estate salesman or real estate broker pursuant to the laws of the state of Idaho and the rules and regulations of the Idaho real estate commission unless said employee is a regular employee of the developer.
E. The following persons may be involved in the entire sales process of a timeshare without being a real estate salesman or real estate broker:
1. A duly authorized attorney in fact whose power of attorney is granted for the purpose of consummating a single transaction involving the conveyance of a single or undivided interest in a timeshare.
2. An attorney at law in the performance of his duties, a receiver, a trustee in bankruptcy, guardian, administrator, executor, or personal representative of an estate, any persons selling pursuant to the default provisions of a deed of trust or any duly authorized agent thereof.
F. This section shall become effective three (3) months after the effective date hereof. (1990 Code)
Notes
| 1 | 1. IC §54-2021 et seq. |