(1)“Director” means the Director of the Bureau of Consumer Financial Protection;
(2)“person” means an individual, or an unincorporated organization, partnership, association, corporation, trust, or estate;
(3)“subdivision” means any land which is located in any State or in a foreign country and is divided or is proposed to be divided into lots, whether contiguous or not, for the purpose of sale or lease as part of a common promotional plan;
(4)“common promotional plan” means a plan, undertaken by a single developer or a group of developers acting in concert, to offer lots for sale or lease; where such land is offered for sale by such a developer or group of developers acting in concert, and such land is contiguous or is known, designated, or advertised as a common unit or by a common name, such land shall be presumed, without regard to the number of lots covered by each individual offering, as being offered for sale or lease as part of a common promotional plan;
(5)“developer” means any person who, directly or indirectly, sells or leases, or offers to sell or lease, or advertises for sale or lease any lots in a subdivision;
(6)“agent” means any person who represents, or acts for or on behalf of, a developer in selling or leasing, or offering to sell or lease, any lot or lots in a subdivision; but shall not include an attorney at law whose representation of another person consists solely of rendering legal services;
(7)“blanket encumbrance” means a trust deed, mortgage, judgment, or any other lien or encumbrance, including an option or contract to sell or a trust agreement, affecting a subdivision or affecting more than one lot offered within a subdivision except that such term shall not include any lien or other encumbrance arising as the result of the imposition of any tax assessment by any public authority;
(8)“interstate commerce” means trade or commerce among the several States or between any foreign country and any State;
(9)“State” includes the several States, the District of Columbia, the Commonwealth of Puerto Rico, and the territories and possessions of the United States;
(10)“purchaser” means an actual or prospective purchaser or lessee of any lot in a subdivision;
(11)“offer” includes any inducement, solicitation, or attempt to encourage a person to acquire a lot in a subdivision; and
(12)“Bureau” means the Bureau of Consumer Financial Protection.
1979—Par. (3). Pub. L. 96–153substituted provisions defining “subdivision” as the division or proposed division of land into lots for the purpose of sale or lease as part of a common promotional plan, for provisions defining “subdivision” as the division or proposed division of land into fifty or more lots for the purpose of sale or lease as part of a common promotional plan and presumptions respecting activities as being deemed part of such common promotional plan.
Pars. (4) to (11). Pub. L. 96–153added par. (4) and redesignated former pars. (4) to (10) as (5) to (11), respectively.
1974—Par. (3). Pub. L. 93–383, § 812(a)(1), inserted “, located in any State or in a foreign country” after “any land”.
Par. (7). Pub. L. 93–383, § 812(a)(2), inserted “or between any foreign country and any State” after “States”.
Effective Date of 2010 Amendment
Amendment by Pub. L. 111–203effective on the designated transfer date, see section 1100H ofPub. L. 111–203, set out as a note under section
552a of Title
5, Government Organization and Employees.
Effective Date of 1979 Amendment
Section 410 of title IV of Pub. L. 96–153provided that: “The amendments made by this title [enacting section
1719a of this title and amending this section and sections
1717 of this title] shall become effective on the effective date of regulations implementing such amendments, but in no case later than six months following the date of enactment of this Act [Dec. 21, 1979], except that section 1403(b)(7) of the Interstate Land Sales Full Disclosure Act [section
1702(b)(7) of this title], contained in the amendment made by section
402, shall become effective on the date of enactment.”
1423, formerly § 1422, of title XIV of Pub. L. 90–448, as renumbered by Pub. L. 96–153, title IV, § 409,Dec. 21, 1979, 93 Stat. 1132, provided that: “This title [enacting this chapter] shall take effect upon the expiration of two hundred and seventy days after the date of its enactment [Aug. 1, 1968].”
Section 1401 of title XIV of Pub. L. 90–448provided that: “This title [enacting this chapter] may be cited as the ‘Interstate Land Sales Full Disclosure Act’.”
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.