Renewal Of Registration

(1) All registration of time-share programs shall expire one (1) year from the date the registration was approved, and shall be invalid after that date unless renewed. (2) At least one (1) month in advance of the date of expiration of a registration, the Executive Director of the Commission shall notify the registrant by mail of the deadline and fee for renewal of the registration. (3) An application for renewal of registration must be filed on or before the expiration date of the registration. The application shall explain any changes in information or documents previously filed with the Commission; provided, however, that this paragraph shall not be construed to obviate rule 1260-06-.05. (4) If an application for renewal of registration of a time-share program is not timely filed, the developer must submit a new application in order to reinstate the registration.