Tex. Prop. Code Section 221.075
Civil Penalty for Late Statement; Injunction


(a)

On receipt of a written request filed with the commission by a managing entity before the date on which the statement required by Section 221.074 (Annual Timeshare Fee and Expense Statement) 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 Section 221.074 (Annual Timeshare Fee and Expense Statement) 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 Section 221.074 (Annual Timeshare Fee and Expense Statement).

(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 Section 221.074 (Annual Timeshare Fee and Expense Statement), the attorney general may institute an action for injunctive relief, a civil penalty, or both.
Added by Acts 1993, 73rd Leg., ch. 443, Sec. 7, eff. Jan. 1, 1995. Amended by Acts 1999, 76th Leg., ch. 1382, Sec. 10, eff. June 19, 1999.
Amended by:
Acts 2005, 79th Leg., Ch. 539 (H.B. 1045), Sec. 15, eff. January 15, 2006.

Source: Section 221.075 — Civil Penalty for Late Statement; Injunction, https://statutes.­capitol.­texas.­gov/Docs/PR/htm/PR.­221.­htm#221.­075 (accessed Apr. 29, 2024).

221.001
Short Title
221.002
Definitions
221.003
Applicability
221.004
Conflicts of Law
221.011
Declaration
221.012
Conveyance and Encumbrance
221.013
Common Ownership
221.014
Partition
221.021
Registration Required
221.022
Application for Registration
221.023
Amendment of Registration
221.024
Powers of Commission
221.025
Effect of Registration on Other Laws: Exemption from Certain Laws
221.026
Issuance and Renewal of Registration
221.027
Temporary Suspension
221.028
Denial of Registration Renewal
221.031
Advertisements and Promotions
221.032
Timeshare Disclosure Statement
221.033
Exchange Disclosure Statement
221.034
Exempt Offerings and Dispositions
221.035
Supervisory Duties of Developer
221.036
Developer Preparation and Completion of Documents
221.037
Alternative Terminology or Name
221.041
Purchaser’s Right to Cancel
221.042
Notice
221.043
Contract Requirements
221.051
Operation Requirement
221.052
Liability of Developer and Exchange Company
221.053
Exchange Company Liability
221.061
Escrow or Trust Account Required
221.062
Release of Escrow
221.063
Alternative to Escrow or Trust Account: Financial Assurance
221.064
Documentation Required
221.071
Deceptive Trade Practices
221.072
Insurance
221.073
Penalty
221.074
Annual Timeshare Fee and Expense Statement
221.075
Civil Penalty for Late Statement
221.076
Managing Entities that Manage More than One Timeshare Property
221.077
Availability of Books and Records
221.081
Applicability
221.082
Powers and Limitations of Board
221.083
Period of Developer Control
221.084
Election of Initial Board Members and Officers
221.085
Removal of Board Members
221.086
Quorum
221.087
Votes
221.088
Open Meetings
221.089
Notice
221.090
Duties
221.101
Transfer or Termination of Timeshare Interest
221.102
Applicability
221.103
General Disclosures Required
221.104
Disclosure of Authorized Use of Timeshare Interest
221.105
Disclosures Relating to Payment of Fees for Transfer Services
221.106
Required Notice for Transfer Services
221.107
Required Notice for Termination Services
221.108
Reliance
221.109
Duty of Good Faith Regarding Transfer or Termination Services
221.110
Deceptive Trade Practices
221.111
Supervisory Duties
221.0245
Complaint Investigation

Accessed:
Apr. 29, 2024

§ 221.075’s source at texas​.gov