09 LC 28
4528
House
Bill 492
By:
Representatives Neal of the
1st,
Scott of the
2nd,
Hill of the
180th,
Stephens of the
164th,
and Hudson of the
124th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Part 1 of Article 5 of Chapter 3 of Title 44 of the Official Code of
Georgia Annotated, relating to general provisions regarding time-share projects
and programs, so as to provide definitions; to provide that private residence
clubs and private residence club developments are not time-share estates or
time-share uses; to provide for related matters; to provide an effective date;
to repeal conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Part
1 of Article 5 of Chapter 3 of Title 44 of the Official Code of Georgia
Annotated, relating to general provisions regarding time-share projects and
programs, is amended by adding a new Code section to read as
follows:
"44-3-162.1.
(a)
As used in this Code section, the term:
(1)
'Private residence club' means a single-family residence, the title to which is
held by a maximum of six individuals as tenants in common in fee simple, and the
use of such residence, including, without limitation, exclusive occupancy for
certain time periods, is determined among the titleholders by project
instrument, contract, or otherwise. A private residence club may or may not be
located in a private residence club development.
(2)
'Private residence club development' means a development of at least two private
residence clubs in which the titleholders to each private residence club may
contractually agree by project instrument, contract, or otherwise to grant
exclusive occupancy rights for certain time periods to the titleholders to any
or all of the private residence clubs in the private residence club
development.
(b)
Neither a private residence club nor a private residence club development shall
be considered a time-share estate, time-share program, or time-share use under
this article, and this article shall not be applicable to private residence
clubs or private residence club
developments."
SECTION
2.
This
Act shall become effective upon its approval by the Governor or upon its
becoming law without such approval.
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.