76-1730.

Managing agent; register information; bond.

A managing agent, including the developer if it is also the managing agent, shall register with the commission the time-share program or programs that it is managing, its principal office address and telephone number, and designate who its responsible managing employee is. The managing agent shall furnish evidence that a bond of five thousand dollars has been placed with a surety company or a cash bond with the commission to cover any default of the managing agent of his or her duties and responsibilities.