This revenue object is inactive. Please see the notes section for further information regarding the inactive status. Recently inactivated objects may remain active in USAS for a period of time to complete outstanding transactions or for other accounting purposes.

Issue Date:
Revised Date: 2020-10-28

Legal Cites

  • Property Code sec. 221.021, sec. 221.024

Object Type

Cash — Business Regulation

Origin Date

September 1, 1985 by S.B. 92, 69th Leg., R.S.

Description

No person shall offer or dispose of a timeshare interest unless the property is registered. The commission shall establish reasonable fees for forms and documents provided to the public, for filing/registering documents and for abbreviated registration application. The 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 up to $10,000 for revoked or suspended developer. 

Due Date

Deposit Funds

  • An account with the Texas Treasury Safekeeping Trust Company.

Note

Amended by S.B. 221, 71st Leg., R.S.

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.

USAS Values

Appropriation Year 21
USAS Title PROFESSIONAL FEES
Receipt Category 03 – Business Regulation
Receipt Type 10 – Business/Professional Fees
Object Group 30 – Revenues
USAS Status A
Rev/Exp Category 01 – LICENSES, FEES, FINES, AND PENALTIES