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 05/30/2008
ACTION Final/Adopted
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 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 May 19, 2008

TRD-200802603

Loretta R. DeHay

General Counsel and Assistant Administrator

Texas Real Estate Commission

Effective date: June 8, 2008

Proposal publication date: March 21, 2008

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

 

Next Page       Previous Page

Link to Texas Secretary of State Home Page | link to Texas Register home page | link to Texas Administrative Code home page | link to Open Meetings home page