DAR File No. 44013

Commerce, Real Estate

Section R162-57a-9

Renewal and Reinstatement of Project Registration

Notice of Proposed Rule

(Amendment)

DAR File No.: 44013
Filed: 08/22/2019 04:32:20 PM

RULE ANALYSIS

Purpose of the rule or reason for the change:

The purpose of this proposed rule amendment is to extend the window of opportunity to reinstate an expired project registration from 30 calendar days to 90 calendar days.

Summary of the rule or change:

This proposed rule amendment would extend the window of opportunity to reinstate an expired project registration from 30 calendar days to 90 calendar days.

Statutory or constitutional authorization for this rule:

• Section 57-19-3

Anticipated cost or savings to:

the state budget:

The Division of Real Estate (Division) has the staff and budget in place to administer this proposed amendment. After conducting a thorough analysis, it was determined that this proposed rule amendment will not result in a fiscal impact affecting those resources, or result in any additional cost or savings to the state budget.

local governments:

Local governments are not required to comply with or enforce the Timeshare and Camp Resort rule. After conducting a thorough analysis, it was determined that this proposed rule amendment will not result in a fiscal impact to local governments.

small businesses:

This proposed amendment does not create new obligations for small businesses nor does it increase the cost associated with any existing obligation. After conducting a thorough analysis, it was determined that this proposed rule amendment will not result in a fiscal impact to small businesses.

persons other than small businesses, businesses, or local governmental entities:

This proposed amendment does not create new obligations for persons other than small businesses, businesses, or local government entities nor does it increase the cost associated with any existing obligation. After conducting a thorough analysis, it was determined that this proposed rule amendment will not result in a fiscal impact to persons other than small businesses, businesses, or local government entities.

Compliance costs for affected persons:

This proposed rule amendment does not create new obligations for affected persons subject to the administrative rules nor does it increase the cost associated with any existing obligation. After conducting a thorough analysis, it was determined that this proposed rule amendment will not result in a fiscal impact to affected persons.

Comments by the department head on the fiscal impact the rule may have on businesses:

For the same reasons that no fiscal impact is occasioned by small businesses, non-small business will likewise not experience any fiscal impact.

Francine A. Giani, Executive Director, Commerce

The full text of this rule may be inspected, during regular business hours, at the Office of Administrative Rules, or at:

Commerce
Real Estate
HEBER M WELLS BLDG
160 E 300 S
SALT LAKE CITY, UT 84111-2316

Direct questions regarding this rule to:

• Justin Barney at the above address, by phone at 801-530-6603, by FAX at , or by Internet E-mail at justinbarney@utah.gov

Interested persons may present their views on this rule by submitting written comments to the address above no later than 5:00 p.m. on:

10/15/2019

This rule may become effective on:

10/22/2019

Authorized by:

Jonathan Stewart, Director

Appendix 1: Regulatory Impact Summary Table*

Fiscal Costs	FY 2020	FY 2021	FY 2022
State Government	$0	$0	$0
Local Government	$0	$0	$0
Small Businesses	$0	$0	$0
Non-Small Businesses	$0	$0	$0
Other Person	$0	$0	$0
Total Fiscal Costs:	$0	$0	$0
Fiscal Benefits
State Government	$0	$0	$0
Local Government	$0	$0	$0
Small Businesses	$0	$0	$0
Non-Small Businesses	$0	$0	$0
Other Persons	$0	$0	$0
Total Fiscal Benefits:	$0	$0	$0
Net Fiscal Benefits:	$0	$0	$0

 

*This table only includes fiscal impacts that could be measured. If there are inestimable fiscal impacts, they will not be included in this table. Inestimable impacts for State Government, Local Government, Small Businesses and Other Persons are described in the narrative. Inestimable impacts for Non-Small Businesses are described in Appendix 2.

 

Appendix 2: Regulatory Impact to Non-Small Businesses

The Division estimates that no non-small businesses will be impacted by this proposed rule amendment. After conducting a thorough analysis, it was determined that this proposed rule amendment will not result in a fiscal impact to persons other than small businesses, businesses, or local government entities.

 

Francine A. Giani, Executive Director of the Commerce Department has reviewed and approved this fiscal analysis.

 

 

R162. Commerce, Real Estate.

R162-57a. Timeshare and Camp Resort Rules.

R162-57a-9. Renewal and Reinstatement of Project Registration.

(1) Project registration renewal. To renew a registration of a project, a person shall submit to the division, no later than the expiration date set forth on the order of registration:

(a) an annual report;

(b)(i) an updated property report, with changes underlined in red; or

(ii) a statement that no changes have occurred in the property report that is on record with the division;

(c) a description of any change in the information provided in the application for registration;

(d) documentation of any judicial proceeding or regulatory investigation instituted by complaint of a purchaser against the developer and arising out of or relating to:

(i) the advertising or sale of an interest;

(ii) disclosures required under Section 57-19-11;

(iii) rescission rights;

(iv) fraud; or

(v) misrepresentation of interests represented by the registration; and

(e) a nonrefundable renewal fee.

(2) Reinstatement.

(a) To reinstate an expired project registration, a person shall submit to the division, no later than 90[30] calendar days following the expiration of the registration:

(i) all materials required for a timely renewal; and

(ii) a nonrefundable late fee.

(b) A registration that is expired more than 90[30] days may not be renewed or reinstated. To obtain a registration, a person shall apply as a new applicant.

 

KEY: timeshare, camp resort, registration, professional conduct

Date of Enactment or Last Substantive Amendment: [December 9, 2015]2019

Notice of Continuation: April 21, 2015

Authorizing, and Implemented or Interpreted Law: 57-19-3; 57-19-5 through 57-19-26