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(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 registrant to represent to a potential purchaser of a timeshare interest by advertising or any other means that a timeshare property 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 offering. It is not a material violation of the Act for a registrant to represent that a timeshare property 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 property or passed upon merits of the timeshare offering. (c)It is a material violation of the Act for a registrant to fail to file an application to amend a registration within 30 days of the occurrence of a material and adverse change in any document contained in the registration or to fail to cure a deficient application to amend a registration within 180 days 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.
This agency hereby certifies that the adoption has been reviewed
by legal counsel and found to be a valid exercise of the agency's legal authority.
Filed with the Office of
the Secretary of State on April 24, 2001
TRD-200102390 Mark A. Moseley
General Counsel
Texas Real Estate Commission
Effective date: May 14,
2001
Proposal publication date: January 26, 2001
For further information, please call: (512) 465-3900
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