Which action is NOT permitted for a developer?

The action that is not permitted for a developer encompasses all of the options listed. To legally operate in the timeshare industry, developers must adhere to regulations that are designed to protect consumers and maintain industry standards.

Offering to sell timeshares without a permit is prohibited because a valid permit ensures that the developer has met the necessary requirements, such as compliance with local laws and regulations that govern the sales process. Similarly, selling timeshares without a project broker is not allowed, as project brokers are essential for overseeing transactions and ensuring that all sales comply with legal standards. Additionally, selling timeshares without a preliminary permit is against regulations since such permits indicate that regulatory bodies have reviewed the project for completeness and legality.

Thus, all these actions are not permitted, highlighting the importance of regulatory oversight in the timeshare industry to maintain ethical practices and protect consumer interests.