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TITLE 22EXAMINING BOARDS
PART 23TEXAS REAL ESTATE COMMISSION
CHAPTER 543RULES RELATING TO THE PROVISIONS OF THE TEXAS TIMESHARE ACT
RULE §543.5Violations
Historical Texas Register

(a) It is a material violation of the Texas Timeshare Act (the Act) for a person to engage in any of the acts described in Section 221.071(a) of the Act.

(b) It is a material violation of the Act for a developer to represent to a potential purchaser of a timeshare interest by advertising or any other means that a timeshare plan has been approved by the State of Texas or the Texas Real Estate Commission or to represent that the State of Texas or the Texas Real Estate Commission has passed upon the merits of a timeshare plan. It is not a material violation of the Act for a registrant to represent that a timeshare plan has been registered if the registrant discloses at the same time and in the same manner that the State of Texas and the Texas Real Estate Commission have not approved the timeshare plan or passed upon the merits of the timeshare plan.

(c) It is a material violation of the Act for a developer to fail to file an application to amend a registration within one month of the occurrence of a material or materially adverse change in any document contained in the registration or to fail to submit a response together with any related material in a good faith effort to cure a deficient application to amend a registration within three months after the Commission has mailed to the applicant a request for curative action.

(d) It is a material violation of the Act for a person to procure or attempt to procure a registration or amendment to a registration by fraud, misrepresentation or deceit or by making a material misstatement of fact in an application filed with the Commission.

(e) It is a material violation of the Act for a person to disregard or violate a rule of the Commission.

(f) It is a material violation of the Act for a developer to fail to make good a check issued to the Commission one month after the Commission has mailed a request for payment by certified mail to the developer's last known mailing address as reflected by the Commission's records.

(g) It is a material violation of the Act for a developer to fail, not later than the 10th working day after the date of a request, to provide information or documents requested by the Commission or a Commission representative in the course of the investigation of a complaint.

(h) It is a material violation of the Act for a developer to fail to properly file an assumed name as required by §221.037(b) of the Texas Timeshare Act or to fail to give the Commission timely written notice of the developer's use of an assumed name.


Source Note: The provisions of this §543.5 adopted to be effective December 25, 1985, 10 TexReg 4807; amended to be effective May 14, 2001, 26 TexReg 3491; amended to be effective January 15, 2006, 30 TexReg 8693; amended to be effective January 5, 2010, 35 TexReg 98; amended to be effective December 10, 2014, 39 TexReg 9535

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