12 CFR 1010.3
§ 1010.3 General applicability.
United States · 12 CFR — Banks and Banking · Status: effective
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- Citation
- 12 CFR 1010.3, § 1010.3 General applicability, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/49327
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Full text
Except in the case of an exempt transaction, a developer may not sell or lease lots in a subdivision, making use of any means or instruments of transportation or communication in interstate commerce, or of the mails, unless a Statement of Record is in effect in accordance with the provisions of this part. In non-exempt transactions, the developer must give each purchaser a printed Property Report, meeting the requirements of this part, in advance of the purchaser's signing of any contract or agreement for sale or lease. Information collection requirements contained in this part have been approved by the Office of Management and Budget under the provisions of 44 U.S.C. 3501 et seq. and have been assigned OMB Control No. 3170-0012.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.