.01 Application for Registration.

A. Application for registration as a time share developer shall be made on forms provided by the Commission at the offices of the Commission. The application shall contain all of the documents and information required.

B. A surety bond submitted with the application for registration shall be written on a form furnished by the Commission displaying the name of the principal on the bond as it appears on the application of the developer.

C. The statutory fee shall accompany the application as well as any other items deemed relevant by the Commission to determine that the statutory or regulatory standards or prerequisites have been met. These items may include credit reports, personal references, abstracts of title, and the like.

D. If, within 30 days after receiving an application, the Commission determines that any prerequisite for registration has not been met, the Commission shall return the application to the applicant with a statement specifying the deficiencies in the application, provided, that if the commission has reason to believe that the application may readily be put into proper form, it may retain the application and notify the applicant of the steps which shall be taken to correct the deficiencies.

E. Denial of an application on other than technical grounds will be communicated to the applicant by at least first class mail at the address stated on the application. The denial notice will inform the applicant that the applicant may file a written request for a hearing on the denial before a Hearing Panel of the Commission.