ADRE LAW BOOK 2025

D. For any timeshare investigation made under this section of an out-of-state timeshare plan, or any in-state timeshare plan to which the commissioner issues any order necessary to protect the public interest and ensure compliance with law, rules or the public report, the developer shall re imburse the department for travel and subsistence expenses incurred by the department. 32-2197.15. Order; appointment of receiver; writ of ne exeat A. If it appears to the commissioner that a person has engaged in or is engaging in a practice de clared to be unlawful by this article, and that such person is concealing assets or self, or has made arrangements to conceal assets or is about to leave this state, the commissioner may apply to the superior court, ex parte, for an order appointing a receiver of the assets of such person or for a writ of ne exeat, or both. B. The court, upon receipt of an application for the appointment of a receiver or for a writ of ne exeat, or both, shall examine the verified application of the commissioner and such other evidence that the commissioner presents to the court. If satisfied that the interests of the public require the appointment of a receiver or the issuance of a writ ne exeat without notice, the court shall issue an order appointing the receiver or issue the writ, or both. If the court determines that the interests of the public will not be harmed by the giving of notice, the court shall set a time for a hearing and require such notice be given as the court deems satisfactory. C. If the court appoints a receiver without notice, the court shall further direct that a copy of the or der appointing a receiver be served upon the person engaged in or engaging in a practice declared to be unlawful under this article by delivering such order to the last address of the person which is on file with the real estate department. The order shall inform the person that he has the right to request a hearing within ten days of the date of the order, and if requested, the hearing shall be held within thirty days from the date of the order. 32-2197.16. Separate disclosures Amended by Ariz. Sess. Laws Ch. 52, (2024) A. The purchase agreement must contain a separate disclosure document that discloses all of the following in at least ten-point type: 1. If the purchaser signs the purchase agreement, the purchaser has ten days to cancel the purchase agreement without a penalty. 2. If the purchaser signs the purchase agreement, the purchaser may be responsible for pay ing maintenance fees, taxes and other assessments every year for the duration of ownership. 3. Timeshares are not investments. 4. The purchase agreement is final and any conflicting statements made by the seller are not part of the purchase agreement. 5. The purchaser has the right to file a consumer complaint with the attorney general. B. Before entering into a purchase agreement, the seller must provide the purchaser with a separate disclosure document to adequately inform the purchaser of the purchaser’s actual and potential liabilities under the purchase agreement. At a minimum, this separate disclosure document must conspicuously disclose all of the following: 1. The duration of the timeshare agreement entered into by the purchaser or whether the agreement has no set duration. 2. A loan estimate of the total potential financial obligation of the purchaser during the first year of ownership that includes additional charges to which the purchaser may be subject

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