Which of the following statements concerning the N.C. Time Share Act is/are true?
I. A person who sells time shares for a time share developer does not need to be licensed if the time share project is properly registered with the North Carolina Real Estate Commission.
II. The North Carolina Real Estate Commission may fine the time share developer $500 for each violation of the Act committed by either the developer or his/her agents.
a) Only statement I is true.
b) Only statement II is true.
c) Both statements are true.
d) Both statements are false.