21 NCAC 58B .0102. REGISTRATION FEE

(a)  Every application for time share project registration must be accompanied by a certified check made payable to the North Carolina Real Estate Commission.  For the initial registration or subsequent registration of a time share project by a developer proposing to sell or develop 16 or more time shares, the fee is one thousand dollars ($1,000).  For an initial or subsequent registration of a time share project in which the developer proposes to sell 15 or fewer time shares, the fee is seven hundred dollars ($700.00).  For any time share registration by a homeowner association for the purpose of re-selling time shares in its own project which it has acquired in satisfaction of unpaid assessments by prior owners, the fee is four hundred fifty dollars ($450.00).

(b)  Applications for registration not accompanied by the appropriate fee shall not be considered by the Commission.

(c)  In the event a properly completed application filed with the Commission is denied for any reason, or if an incomplete application is denied by the Commission or abandoned by the developer prior to a final decision by the Commission, the amount of two hundred fifty dollars ($250.00) shall be retained by the Commission from the application fee and the balance refunded to the applicant developer.

 

History Note:        Authority G.S. 93A‑51; 93A‑52;

Eff. March 1, 1984;

Amended Eff. April 1, 2013; July 1, 2000.