2805. “Developer” Defined.
The terms "developer" in Section 11212 and "any person" in Section 11212 and in Section 11226 of the Code include
any person, who at any point in time, owns, or has an option or contract to acquire eleven or more time-share interests
for purposes of sale in the ordinary course of business if the time-share interests were acquired or are to be acquired
from the original recipient of a public report for the time-share plan, or from a person who succeeded to the interest of
the original recipient in eleven or more time-share interests in a time-share plan.