When used in this subchapter, the following shall have the meanings respectively set forth:

(1) “Accommodations” means any apartment, condominium or cooperative unit, cabin, lodge, hotel or motel room or any other structure which is situated on real property and designed for occupancy by one or more individuals.

(2) “Advertising” means the use of media, mail or personal contacts to induce, directly or indirectly, any person to enter into any obligation, acquire any title, interest in or otherwise execute a contract as defined in this section.

(3) “Business day” means any day except Sunday or a legal holiday.

(4) “Common expenses” means those expenses properly incurred for the maintenance, operation and repair of all accommodations or facilities subject to this subchapter.

(5) “Contract” means any written agreement of more than 1 year’s duration, executed in whole or in part within the State which grants to a purchaser the rights and obligations of a time-sharing plan.

(6) “Developer” means the person creating a time-sharing plan.

(7) “Facilities” means any structure, service, improvement or real property, whether improved or unimproved, which is made available to the purchasers of a time-sharing plan.

(8) “Offer” means any offer, solicitation, advertisement or inducement to execute a contract.

(9) “Person” means any individual, corporation, partnership, company, unincorporated association or any other legal entity other than a government or agency or a subdivision thereof.

(10) “Purchaser” means any person who is buying or who has bought a time-share period in a time-sharing plan.

(11) “Reciprocal program” means any arrangement under which a purchaser is permitted to use time-share units or facilities in 1 or more time-sharing plans’ locations not owned by the seller with whom the purchaser has entered into a contract.

(12) “Salesperson” means an individual, other than a seller, who offers to sell a contract by means of a direct sales presentation, but does not include a person who merely refers a prospective purchaser to a sales person without making any direct sales presentation.

(13) “Seller” means any developer, or any other person, or agent or employee thereof, who offers time-share periods for sale to the public in the ordinary course of business, except persons who have acquired a time-share period for their own occupancy and later offer it for resale.

(14) “Time-share period” means that period of time during which a purchaser of a time-sharing plan is entitled to possession and use of the accommodations or facilities, or both, of a time-sharing plan.

(15) “Time-share unit” means an accommodation or facility of a time-sharing plan which is divided into time-share periods.

(16) “Time-sharing plan” means an arrangement, plan, or similar device, whereby a purchaser, in exchange for consideration, receives a right to use accommodations or facilities, or both, for a period of more than 3 years and such use is to occur during specific periods of time which are less than 1 year during any given year within the terms of such arrangement, plan or other device.

67 Del. Laws, c. 433, § 1.