By: Staples S.B. No. 1647
A BILL TO BE ENTITLED
AN ACT
relating to a timeshare developer's ability to complete certain
documents.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter D, Chapter 221, Property Code, is
amended by adding Section 221.036 to read as follows:
Sec. 221.036. DEVELOPER PREPARATION AND COMPLETION OF
DOCUMENTS. (a) A developer may charge a reasonable fee for
completion of a contract form, closing document, or disclosure
document required for the sale, exchange, option, lease, or rental
of a timeshare interest.
(b) The action of a developer under Subsection (a) does not
constitute the unauthorized or illegal practice of law in this
state if the contract or document has been:
(1) accepted by the commission for use in the
particular type of transaction involved; or
(2) prepared by an attorney licensed to practice law
in this state for use in the particular type of transaction
involved.
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2003.