SECTION 36. Dispositions or offerings for which public offering statement or other materials not required

(a) Sections thirty-six to fifty-five, inclusive, shall apply to all time-shares subject to this chapter except as provided in subsection (b).

(b) Neither a public offering statement nor the materials required by section forty-two need be prepared or delivered in the case of:

(1) a gratuitous disposition of a time-share;

(2) a disposition pursuant to court order;

(3) a disposition by a government or governmental agency;

(4) a disposition by foreclosure or deed in lieu of foreclosure;

(5) a disposition that may be cancelled at any time and for any reason by the purchaser without penalty;

(6) a disposition of a time-share in a unit situated wholly outside the commonwealth pursuant to a contract executed wholly outside the commonwealth, if there has been no offering within the commonwealth;

(7) an offering by a developer of time-shares in no more than one time-share unit at any one time; or

(8) A disposition of a time-share property or all time-shares therein to one purchaser.