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When the Board makes an examination of any project, it shall make a public report of its findings, which shall contain all material facts reasonably available. A public report shall neither be construed to be an approval nor disapproval of a project. No unit in a condominium project shall be offered for sale until the Board shall have issued a final or substitute public report thereon, nor shall reservations to purchase be taken until the Board has issued a preliminary, final or substitute public report. 1962, c. 627, § 21.
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