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(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 30 days 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 90 days 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 within 30 days after the commission has mailed a request for payment by certified mail to the developer's last know permanent mailing address as reflected by the commission's records. (g)It is a material violation of the Act for a developer to fail within 10 working days to provide information or documents requested by the commission or a commission representative in the course of the investigation of a complaint.
This agency hereby certifies that the adoption has been reviewed
by legal counsel and found to be a valid exercise of the agency's legal authority.
Filed with the Office of
the Secretary of State on December 9, 2005
TRD-200505663 Loretta R. DeHay
General Counsel
Texas Real Estate Commission
Effective date: January 15, 2006
Proposal publication date: November 4, 2005
For further information, please call: (512) 465-3900
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