The mortgagee of the mortgage credits constituted before the property is dedicated to the timeshare or vacation club regime, at the time of bringing action for collection, shall direct the action simultaneously, for the total sum secured, against all the owners of the accommodations that are encumbered. If said credits are constituted after the property has been submitted to the timeshare or vacation club regime, the same shall be distributed as prescribed in § 2566 of Title 30, among the encumbered accommodations already constructed; and in the case of accommodations merely planned or already under construction, the credits shall be distributed among the shares or rights recorded, in accordance with §§ 1262b and 1262c of this title.The facilities of a property dedicated to the timeshare or vacation club regime may only be mortgaged by the consent of the developer and the affirmative vote of sixty-six and two-thirds percent (66 2 / 3 %) of the voting power of all owners. In the case of timeshare plans or vacation clubs structured exclusively on the basis of contractual right to use, the affirmative vote of the owner shall not be required if the mortgage to be established is to be

f timeshare plans or vacation clubs structured exclusively on the basis of contractual right to use, the affirmative vote of the owner shall not be required if the mortgage to be established is to be subordinated to the rights of these owners in accordance with the provisions of §§ 1254–1254b of this title. History —Dec. 26, 1995, No. 252, § 12-105; July 5, 1996, No. 66, § 33.