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 09/05/2014
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, not later than the 10 day after the date [within 10 days] of the change, provide the Commission [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.

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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