Sec. 1201.107. SECURITY: LOCATION. (a) A manufacturer, retailer, broker, or installer who maintains a place of business at one or more locations shall file with the department a separate bond or other security for each location.
(b) Property used for the business that is not contiguous to, or located within 300 feet of, a bonded location requires a separate bond. A location at which a manufactured home is shown to the public or at which the home is offered for sale, exchange, or lease-purchase by a retailer to consumers requires a bond.
(c) A manufactured home installed on a permanent foundation system and offered for sale as real property does not require a bond. A temporary location for a bona fide trade show sponsored by a nonprofit corporation that qualifies for an exemption from federal income taxation under Section 501(a), Internal Revenue Code of 1986, by being listed as an exempt organization under Section 501(c) of that code does not require a bond.
(d) If a retailer or broker offers for sale or participates in any way in the sale of a manufactured home at a location other than an undivided parcel of real property where more than one manufactured home is located and offered for sale, exchange, or lease-purchase by a retailer or broker to the public, the retailer or broker must:
(1) identify the bond on file with the department in conjunction with that person's license; and
(2) provide contractually in the sales transaction that the identified bond applies to the sale.
Added by Acts 2001, 77th Leg., ch. 1421, Sec. 2, eff. June 1, 2003.
Amended by:
Acts 2005, 79th Leg., Ch. 1284 (H.B. 2438), Sec. 4, eff. June 18, 2005.
Section: Previous 1201.102 1201.1025 1201.103 1201.1031 1201.104 1201.105 1201.106 1201.107 1201.108 1201.109 1201.110 1201.111 1201.113 1201.114 1201.115 NextLast modified: September 28, 2016