Developer Control

(a)The time-share instruments for a time-share estate program may provide for a period of time, hereafter referred to as developer control period, during which the developer or a managing agent selected by the developer may manage the time-share program and the units in the timeshare program.

(b)If the time-share instruments for a time-share estate program provide for the establishment of a developer control period, they shall include provisions for:

(1)termination of the developer control period by action of the association;

(2)termination of contracts for goods and services for the timeshare program or for units in the time-share program entered into during the developer control period; and

(3)a regular accounting by the developer to the association as to all matters that significantly affect the interests of owners in the timeshare program.