(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 one month [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 three months [90 days] after the Commission [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 [commission]. (e)It is a material violation of the Act for a person to disregard or violate a rule of the Commission [commission ]. (f)It is a material violation of the Act for a developer to fail to make good a check issued to the Commission one month [ commission 30 days] after the Commission [commission ] has mailed a request for payment by certified mail to the developer's last known [know permanent] mailing address as reflected by the Commission's [commission's] records. (g)It is a material violation of the Act for a developer to fail, not later than the 10th working day after the date of a request, [within 10 working days] to provide information or documents requested by the Commission [commission] or a Commission [commission] representative in the course of the investigation of a complaint. (h)It is a material violation of the 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 [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
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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