Texas Register
TITLE 22 EXAMINING BOARDS
PART 23TEXAS REAL ESTATE COMMISSION
CHAPTER 543RULES RELATING TO THE PROVISIONS OF THE TEXAS TIMESHARE ACT
RULE §543.2Amendments
ISSUE 01/26/2001
ACTION Proposed
Preamble Texas Admin Code Rule
(a)A person who wishes to amend the registration of a timeshare property shall submit an application to amend the registration using forms prepared by the commission. The commission may [shall] not accept for filing an application submitted without a completed application form or the appropriate filing fee.

(b)For the purposes of Section 221.023 [Subsection 6(c)] of the Texas Timeshare Act, "promptly" means [ shall mean] within 30 days after the occurrence of a material and adverse change in any document contained in a registration.

(c)An increase in the number of timeshare interests to be offered for sale is [shall be] deemed a material and adverse change if it exceeds by more than 10% of the number of interests which existed or were proposed in the original registration.

(d)An increase in the dues, assessments, fees or charges paid or to be paid by purchasers for the use of accommodations or amenities or for any other purpose is [shall be] deemed a material and adverse change if it exceeds by more than 10% the amounts set forth in the original registration.

(e)-(f)(No change.)

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 January 11, 2001

TRD-200100215

Mark A. Mosley

General Counsel

Texas Real Estate Commission

Earliest possible date of adoption: February 25, 2001

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

 

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