Texas Property Code
§ 221.022 — APPLICATION FOR REGISTRATION
PR § 221.022Title 12. MISCELLANEOUS SHARED REAL PROPERTY INTERESTS · Ch. 221. TEXAS TIMESHARE ACT · Art. C. REGISTRATION
Statute text
View on source(a)An application for registration filed under this section must include a timeshare disclosure statement and any required exchange disclosure statement required by Section 221.033, recorded copies of all timeshare instruments, and other information as may be required by the commission. If the timeshare property is a newly developed property, recorded copies of the timeshare instruments must be provided promptly after recorded copies are available from the entity with which the instruments are recorded. If existing or proposed accommodations are in a condominium, an applicant who complies with this section is not required to prepare or deliver a condominium information statement or a resale certificate as described by Chapter 82.
(b)If existing or proposed accommodations are in a condominium or similar development, the application for registration must contain the project instruments of that development and affirmatively indicate that the creation and disposition of timeshare interests are not prohibited by those instruments. If the project instruments do not expressly authorize the creation and disposition of timeshare interests, the application must contain evidence that existing owners of the condominium development were provided written notice, at least 60 days before the application for registration, that timeshare interests would be created and sold. If the project instruments prohibit the creation or disposition of timeshare interests, the application must contain a certification by the authorized representative of all existing owners that the project instruments have been properly amended to permit that creation and disposition.
(c)The commission may accept an abbreviated registration application from a developer of a timeshare plan for any accommodations in the plan located outside this state. The developer must file written notice of the intent to register under this section not later than the 15th day before the date the abbreviated application is submitted.
(d)A developer of a timeshare plan with any accommodation located in this state may not file an abbreviated application unless:
(1)the developer is a:
(A)successor in interest after a merger or acquisition; or
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Legislative history
Acts 2005, 79th Leg., Ch. 539 (H.B. 1045), Sec. 4, eff. January 15, 2006. Acts 2009, 81st Leg., R.S., Ch. 279 (S.B. 1036), Sec. 1, eff. September 1, 2009.