SECTION 55. Project brokers

(a) It shall be unlawful for any person to sell or offer to sell a time-share in the commonwealth unless the developer of the time-share property in which the time-share is located has designated a person as a project broker and said person is then serving as the project broker for the time-share property. The time-share property shall be considered a separate real estate office for purposes of the real estate licensing laws.

(b) It is unlawful for any person to engage in the business, act in the capacity of or advertise or assume to act as a project broker within the commonwealth unless such person is a licensed real estate broker under the laws of the commonwealth.