76-1738. Registration; exemptions; exception.

No registration with the commission shall be required in the case of:

(1) Any transfer of a time-share interval by any time-share interval owner other than the developer or his or her agent;

(2) Any disposition pursuant to court order;

(3) A disposition by a government or governmental agency;

(4) A disposition by foreclosure or deed in lieu of foreclosure;

(5) A disposition of a time-share interval in a time-share project situated wholly outside this state if all solicitations, negotiations, offerings, and contacts took place wholly outside this state and the contract was executed wholly outside this state;

(6) A gratuitous transfer of a time-share interval;

(7) Group reservations made for fifteen or more people as a single transaction between a hotel and travel agent or travel groups for hotel accommodations when deposits are made and held for more than three years in advance; or

(8) Any offering, other than through an individual while located in this state, of a time-share interval for a time-share project situated wholly outside this state if the offer states that the time-share interval is in compliance with the law of the jurisdiction in which the time-share interval is located.

A reservation pursuant to section 76-1727 may be taken as a result of an exempt offering if the time-share program is registered prior to entering into any binding agreement with a purchaser, unless otherwise provided by the Nebraska Time-Share Act. For the purposes of subdivision (5) of this section and the act, an exempt offer is an offering.

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