Title 15 — Commerce and Trade
Chapter 42 — Interstate Land Sales
§ 1707. Property report
Statutory text
Contents of report
A property report relating to the lots in a subdivision shall contain such of the information contained in the statement of record, and any amendments thereto, as the Director may deem necessary, but need not include the documents referred to in paragraphs (7) to (11), inclusive, of section 1705 of this title. A property report shall also contain such other information as the Director may by rules or regulations require as being necessary or appropriate in the public interest or for the protection of purchasers.
Promotional use
The property report shall not be used for any promotional purposes before the statement of record becomes effective and then only if it is used in its entirety. No person may advertise or represent that the Director approves or recommends the subdivision or the sale or lease of lots therein. No portion of the property report shall be underscored, italicized, or printed in larger or bolder type than the balance of the statement unless the Director requires or permits it.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Interstate Land Sales F till Disclosure Act
Pub. L. 90–448 title XIV § 1408 · 82 Stat. 476
Enacted · 15 U.S.C. § 1707
Pub. L. 90–448, title XIV, § 1408, Aug. 1, 1968, 82 Stat. 594
Source evidence
Code source credit
Pub. L. 90–448, title XIV, § 1408, Aug. 1, 1968, 82 Stat. 594Enacted provision · exact public law section
Sec. 1408. information required in property report (a) A property report relating to the lots in a subdivision shall contain such of the information contained in the statement of word, and any amendments thereto, as the Secretary may deem necessary, but need not include the documents referred to in paragraphs (7) to (11), inclusive, of section 1406. A property report shall also contain such other information as the Secretary may by rules or regulations require as being necessary or appropriate in the public interest or for the protection of purchasers. (b) The property report shall not be used for any promotional purposes before the statement of record becomes effective and then only if it is used in its entirety. No person may advertise or represent that the Secretary approves or recommends the subdivision or the sale or lease of lots therein. No portion of the property report shall lie underscored, italicized, or printed in larger or bolder type than the balance of the statement unless the Secretary requires or permits it.Consumer Financial Protection Act of 2010
Pub. L. 111–203 title X § 1098A(1) · 124 Stat. 1376
Substituted · 15 U.S.C. § 1707
Pub. L. 111–203 substituted “Director” for “Secretary” wherever appearing
Source evidence
Code amendment note
Pub. L. 111–203 substituted “Director” for “Secretary” wherever appearing.Enacted provision · exact public law section
(1) by 15 USC 1702 et seq. striking “Secretary” each place that term appears and inserting “Director”;Effective date note
Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.
2 of 2 references resolved to an enrolled provision
Editorial Notes
Amendments
2010—Pub. L. 111–203 substituted “Director” for “Secretary” wherever appearing.
Statutory Notes and Related Subsidiaries
Effective Date of 2010 Amendment
Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.
Effective Date
Section effective upon the expiration of two hundred and seventy days after , see section 1423 of Pub. L. 90–448, set out as a note under section 1701 of this title.
Credits
1968–2010 · 2 acts
- 1968Pub. L. 90–448, title XIV, § 1408, , 82 Stat. 594
- 2010Pub. L. 111–203, title X, § 1098A(1), , 124 Stat. 2105.
Show as published
(Pub. L. 90–448, title XIV, § 1408, , 82 Stat. 594; Pub. L. 111–203, title X, § 1098A(1), , 124 Stat. 2105.)