Created September 1, 1985 by S.B. 92, 69th Leg., R.S. in TEX. PROP. CODE ANN. sections 221.021, 221.024. No person shall offer or dispose of a timeshare interest unless the property is registered. Commission shall establish reasonable fees for forms and documents provided to the public, for filing/registering documents and for abbreviated registration application. Commission shall investigate matters relating to the application and may require inspection of the property. All direct expenses incurred by the Commission in inspecting the property shall be borne by the applicant and an advance deposit to cover expenses may be required. May set administrative penalty NTE $10,000 for revoked or suspended developer. See S.B. 221, 71st Leg., R.S. concerning Texas Property Code changes. Amended by H.B. 1045, 79th Leg., R.S. Previously deposited to General Revenue Fund (No. 0001). Effective 9-1-11, S.B. 1000, 82nd Leg., R.S. Made the Texas Real Estate Commission, Agency 329, a self-directed, semi-independent agency with funds in the Texas Treasury Safekeeping Trust Company.