Although I'm not so familiar with points but isn't a timeshare like owning a home which you can rent like a vacation rental? I thought you own it like real estate as its recorded in the county. I guess points run differently in that its not recorded and you don't own a home resort.
Either way I thought you could just rent the week and purchase a guest certificate(and include it as part of the rental cost) and let the renter check in to the resort. I thought its only illegal to rent an exchange week.
Timeshares are more like Condos than single family homes. Every HOA has rules and often those rule include rental restrictions.
And by the way, even in a single family home I bet you will be buying trouble if you turn it into a weekly rental property..at least you would everywhere I have lived