(a)A developer who wishes to register a timeshare plan shall submit an application for registration using forms approved by the Commission [commission]. The Commission [commission] may not accept for filing an application submitted without a completed application form and the appropriate filing fee. (b)If the Commission [commission] determines that an application for registration of a timeshare plan satisfies all requirements for registration, the Commission [ commission] shall promptly register the timeshare plan. The Commission [commission] shall notify the applicant in writing that the timeshare plan has been registered, specifying the anniversary date of the registration and shall assign a registration number to the timeshare plan. (c)If the Commission [commission] determines that an application for registration of a timeshare plan fails to satisfy any requirement for registration, the Commission [ commission] shall promptly notify the applicant of any deficiency in writing. The Commission [commission] may require an applicant to revise and resubmit written documents filed with the application or to provide additional information if the Commission [commission] determines that the application is incomplete or inaccurate. Upon submission by an applicant of a response sufficient in the opinion of the Commission [commission] to cure any deficiency in the application, the Commission [ commission] shall promptly register the timeshare plan and provide the applicant with the written notice required by these rules. An application will be terminated and the Commission [commission ] shall take no further action if the applicant fails to submit a response to the Commission [commission] within three months [90 days] after the Commission [ commission] mails a request to the applicant for curative action.
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
August 25, 2014
TRD-201404083 Kerri Lewis
General Counsel
Texas Real Estate Commission
Earliest possible date of adoption: October 5, 2014
For further information, please call: (512) 936-3092
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