Texas Property Code 221.075 – Civil Penalty for Late Statement; Injunction
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(a) On receipt of a written request filed with the commission by a managing entity before the date on which the statement required by § 221.074 must be made available, the commission for good cause shown may grant the managing entity an extension of no more than 30 days in which to provide the statement.
(b) If the statement required by § 221.074 is late and an extension has not been granted under Subsection (a), the managing entity required to provide the statement is liable to the state for a civil penalty not to exceed:
(1) $500 per day for each of the first 10 days that the statement is late; and
(2) $1,500 per day for each day after the 10th day, until the managing entity has complied with § 221.074.
Terms Used In Texas Property Code 221.075
- Commission: means the Texas Real Estate Commission. See Texas Property Code 221.002
- Managing entity: means the person responsible for operating and maintaining a timeshare property. See Texas Property Code 221.002
- Timeshare property: means :
(A) one or more accommodations and any related amenities subject to the same timeshare instrument; and
(B) any other property or property rights appurtenant to the accommodations and amenities. See Texas Property Code 221.002 - Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
(c) In no event shall the civil penalties exceed $30,000 for any one statement period.
(d) A managing entity may not assess against or collect from the purchasers of a timeshare property the amount of a penalty incurred under this section.
(e) If it appears that a managing entity has violated § 221.074, the attorney general may institute an action for injunctive relief, a civil penalty, or both.