Chapter LXVII

A. Where applicable, the developer of each timeshare plan that has timeshare property located in Louisiana, or who maintains a sales office in Louisiana for the sale of timeshare interests, shall establish interest bearing escrow accounts in the developer's name at a financial in…

A. Every developer of a timeshare plan shall submit to the commission notarized affidavits attesting to the existence, location and account number of the developer's escrow accounts. The affidavits shall authorize and empower the commission or its representatives to examine, insp…

A. Every developer shall notify the commission of his intention to close an escrow account at least 10 days prior to the intended closing date. Notes La. Admin. Code tit. 46 , § LXVII-5719 Promulgated by the Department of Economic Development, Real Estate Commission, LR 26:61 (Ja…

A. Upon revocation, suspension or lapse of registration, a developer shall nevertheless continue to maintain all escrow accounts until such time as all monies have been disbursed according to law. Notes La. Admin. Code tit. 46 , § LXVII-5721 Promulgated by the Department of Econo…

A. Every registrant shall report in writing any change in business or residence address or telephone number to the commission within 10 days of the change. Such notification shall be by hand delivery or certified mail. Notes La. Admin. Code tit. 46 , § LXVII-5723 Promulgated by t…

A. Timeshare registrants, in accordance with the provisions of R.S. 37:1446(A) , shall not offer or pay a fee or any other compensation of any kind to any unregistered person for the purpose of obtaining any timeshare solicitations. Notes La. Admin. Code tit. 46 , § LXVII-5725 Pr…

A. Every developer shall retain, for at least five years, readily available and properly indexed copies of all documents which in any way pertain to the sale or solicitation of timeshare interests in which he has acted as a developer. Notes La. Admin. Code tit. 46 , § LXVII-5727 …

A. Fees for licenses, certificates, and registrations shall cover a period of one calendar year and shall not be prorated. B. Except as otherwise provided in these rules and regulations all fees submitted to the commission are non-refundable. Notes La. Admin. Code tit. 46 , § LXV…

A. Payment of any fee with a check that is returned by a financial institution, wherein the reason for not paying the check is not a fault of the financial institution, shall be grounds for cancellation of the transaction for which the fee was submitted and/or the censure, suspen…

A. It shall be the responsibility of the individual licensee, registrant, or certificate holder to ensure that the renewal of an individual license, registration, or certificate has been fully completed and timely submitted to the commission with the required fees. B. The renewal…

A. Each licensee renewing in the active status shall complete 12 hours of approved course work prior to license renewal. A minimum of four of the 12 hours shall be completed in annual mandatory topic(s) designated by the commission. B. All initial licensees shall complete 45 post…