Texas Property Code 221.051 – Operation Requirement
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Terms Used In Texas Property Code 221.051
- Exchange company: means any person who owns or operates an exchange program. See Texas Property Code 221.002
- Exchange program: means any method, arrangement, or procedure for the voluntary exchange of timeshare interests among purchasers or owners. See Texas Property Code 221.002
An exchange company shall employ seasonal demand and unit occupancy restrictions in the operation of its exchange program.