Texas Register
TITLE 22 EXAMINING BOARDS
PART 23TEXAS REAL ESTATE COMMISSION
CHAPTER 543RULES RELATING TO THE PROVISIONS OF THE TEXAS TIMESHARE ACT
RULE §543.10Escrow Requirements
ISSUE 03/21/2008
ACTION Proposed
Preamble Texas Admin Code Rule
(a)For purposes of Section 221.063(a) of the Texas Timeshare Act, the alternative financial assurance from another state or jurisdiction must be for the same timeshare plan as the timeshare plan being registered or registration being amended.

(b)A timeshare developer shall, within 10 days of the change, provide the commission with written notice of any increase or decrease in the original surety bond as provided for in Section 221.063(a) of the Texas Timeshare Act.

This agency hereby certifies that the proposal has been reviewed by legal counsel and found to be within the agency's legal authority to adopt.

Filed with the Office of the Secretary of State on March 3, 2008

TRD-200801278

Loretta R. DeHay

Assistant Administrator and General Counsel

Texas Real Estate Commission

Earliest possible date of adoption: April 20, 2008

For further information, please call: (512) 465-3900

 

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