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MISS. REAL EST. COM'N v. GEICO FIN. SERVICES INC.

No. 90-CC-0716.

602 So.2d 1155 (1992)

MISSISSIPPI REAL ESTATE COMMISSION, James D. Smith and Wife, Jean A. Smith, Glenn R. Cooper and Wife, Colette L. Cooper v. GEICO FINANCIAL SERVICES, INC. and Five Star Associates, Inc.

Supreme Court of Mississippi.

Rehearing Denied July 22, 1992.

Attorney(s) appearing for the Case

Samuel L. Begley, John L. Maxey, II, Maxey Pigott Wann & Begley, Jackson, James F. Thompson, J. Michael McGehee, Gulfport, for appellants.

John Edgar Johnson, Gulfport, Fredrick B. Feeney, II, Franke Rainey & Salloum, Gulfport, for appellees.

Kenneth L. Swarthout, Jr., Ocean Springs, James G. Tucker III, Bay St. Louis, for amicus curiae.

Before ROY NOBLE LEE, C.J. and ROBERTSON and PITTMAN, JJ.

PITTMAN, Justice, for the Court:

This is an appeal from a judgment rendered by the Chancery Court of Harrison County finding that time-sharing plan and interval ownership regulations of the Mississippi Real Estate Commission (MREC) are inapplicable to a sale of property interests and memberships in a campground and its amenities. We reverse and remand.

I.

On May 2, 1989, James and Jean Smith (Smith) and Glenn and Colette Cooper (Cooper) instituted...

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