15 U.S.C. § 1707 — Property report
submitted 58 years ago by Pub. L. 90-448 to r/title-15-COMMERCE-AND-TRADE · 173 words · no verdicts yet
A subdivision property report must include information the Director requires from the statement of record and other required information. It cannot be used for promotion before the statement is effective and cannot falsely suggest the Director approves the subdivision.
(a) Contents. A property report about subdivision lots must contain the statement-of-record information and amendments the Director considers necessary, but need not include the documents listed in paragraphs (7) through (11) of section 1705. It must also contain other information the Director requires by rule as necessary or appropriate for the public interest or purchaser protection. (b) Promotion. Before the statement of record becomes effective, the report may not be used for promotion; afterward it may be used only in its entirety. No one may advertise or represent that the Director approves or recommends the subdivision or its lot sales or leases. No part may be underlined, italicized, or printed larger or bolder than the rest of the statement unless the Director requires or permits it.
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.
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.
Source credit: (Pub. L. 90–448, title XIV, § 1408, Aug. 1, 1968, 82 Stat. 594; Pub. L. 111–203, title X, § 1098A(1), July 21, 2010, 124 Stat. 2105.)
- 1968Enacted · Pub. L. 90-448 · 82 Stat. 594
- 2010Amended · Pub. L. 111-203 · 124 Stat. 2105
A history note hasn’t been published yet. The record shows enactment by Pub. L. 90-448 on 1968-08-01.
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