Texas § PR.222.007 - CONTRACT

§ PR.222.007. CONTRACT

CONTRACT. (a) Each sale of a membership interest or membership right in a membership camping resort must be evidenced by a membership camping contract written in the language principally used in any promotional presentation made to the purchaser. The seller must give the purchaser a copy of the contract at the time it is signed. (b) Each contract must contain the following: (1) the name and address of the operator and the seller and the location of the membership camping resort; (2) the signature of the operator or seller; (3) the signature of the purchaser; (4) the date on which the purchaser signs the contract; (5) the name of the person who closed the transaction described in the membership camping contract; (6) a brief description of the nature of the purchaser's interest in and right or license to use the membership camping resort; (7) a summary or copy of the rules, restrictions, or covenants regulating the purchaser's use of the operator's properties, including a statement of whether and how the rules, restrictions, or covenants may be changed; (8) any restraints on the transfer of the membership camping contract; (9) any grounds for forfeiture of a purchaser's membership camping contract; (10) if applicable, a statement of the purchaser's right to cancel the membership camping contract as provided by Section 222.008 (c); (11) a statement of whether the purchaser visited the location of the membership camping resort before signing the contract; and (12) if applicable, a statement by the seller that if the purchaser timely exercises any right of cancellation under the contract, all payments made by the purchaser to the seller in connection with the contract shall be returned to the purchaser before the 21st day after the seller receives notice of cancellation as required under Section 222.008 . (c) The contract must also contain a brief description of the existing amenities available for use by purchasers at the home resort and of any proposed amenities or amenities not yet complete or fully functional. (d) The contract must also contain a brief statement of the operator's ownership of or other right to use the camping properties represented to be available for use by purchasers, together with the duration of any lease, license, franchise, or reciprocal program entitling the operator to use the property, and material provisions of any agreements that restrict a purchaser's use of the property. (e) The contract must be revised annually to include any changes to the information required by this section, if applicable. Added by Acts 1989, 71st Leg., ch. 2, Sec. 13.03(d), eff. Aug. 28, 1989.