37-53-205. Exemption from registration. The registration requirements of this chapter do not apply to:
     (1) an offer, sale, or transfer of not more than two timeshare interests by a timeshare owner in a 12-month period;
     (2) a gratuitous transfer of a timeshare;
     (3) a sale under court order;
     (4) a sale by any government or a governmental agency;
     (5) a sale by forfeiture, foreclosure, or deed in lieu of foreclosure; or
     (6) a sale of a project or all timeshare units therein to any one purchaser.

     History: En. Sec. 7, Ch. 444, L. 1987.