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(a)It is a material violation of the Texas Timeshare
Act for a person to engage in any of the acts described in §221.071(a)
of the Texas Timeshare Act.
(b)It is a material violation of the Texas Timeshare
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 Commission or to represent
that the State of Texas or the Commission has passed upon the merits
of a timeshare plan. It is not a material violation of the Texas Timeshare
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 Commission have not approved the timeshare
plan or passed upon the merits of the timeshare plan.
(c)It is a material violation of the Texas Timeshare
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 Texas Timeshare
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 Texas Timeshare
Act for a person to disregard or violate a rule of the Commission.
(f)It is a material violation of the Texas Timeshare
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 Texas Timeshare
Act for a developer to fail, not later than the 14th 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 Texas Timeshare
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.
The agency certifies that legal counsel has reviewed
the proposal and found it to be within the state agency's legal authority
to adopt.
Filed with the Office
of the Secretary of
State on May 6, 2022
TRD-202201793 Abby Lee
Deputy General Counsel
Texas Real Estate Commission
Earliest possible date of adoption: June 19, 2022
For further information, please call: (512) 936-3057
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