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Title 3 . Commerce, Community, and Economic Development
Chapter 20 . Land Sales
Section 230. Promotional plans - Group meetings

3 AAC 20.230. Promotional plans - Group meetings

(a) The department shall be notified of a meeting in writing not less than 15 days before its date. The notice shall consist of the date, hour, and place of the meeting and the names of the developer and the real estate broker or brokers involved.

(b) All advertising calculated to induce any attendance or participation in a land sales presentation must unmistakably call attention to that fact.

(c) The meeting shall be conducted in a place open to departmental personnel for inspection and monitoring. The departmental personnel shall be given free access to the meeting and the sales presentation.

(d) A false or dummy buyer shall not be used to initiate sales or to create a buying climate, or for any other purpose.

(e) All oral statements made at the meeting to prospective purchasers shall be consistent with the written material approved by the department.

(f) A prospective purchaser who expresses a desire to leave the meeting at any time during or after the meeting may not in any manner be impeded from leaving, pressured to remain, or denied any benefit promised in exchange for attending the meeting.

(g) The advertising in the meeting is subject to the standards of advertising contained in this chapter.

History: Eff. 4/3/76, Register 58

Authority: AS 34.55.020

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Last modified 7/05/2006