(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 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 after the 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.
(e)It is a material violation of the Act for a person
to disregard or violate a rule of the 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 after
the Commission has mailed a request for payment by certified mail
to the developer's last known mailing address as reflected by the
Commission's records.
(g)It is a material violation of the Act for a developer
to fail, not later than the 14th day after the date of a request,
to provide information or documents requested by the Commission or
a 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 timely
written notice of the developer's use of an assumed name.
The agency certifies that legal counsel has reviewed
the adoption and found it to be a valid exercise of the agency's legal
authority.
Filed with the Office
of the Secretary of State on November 21, 2019
TRD-201904426 Kristen Worman
Deputy General Counsel
Texas Real Estate Commission
Effective date: December 11,
2019
Proposal publication date: August 30, 2019
For further information, please call: (512) 936-3093
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