(a) Not later than the termination, by expiration or surrender, of any period of developer control, the owners, including the developer to the extent of any developer-owned timeshare interests, must elect a board of at least three members. The board may include one or more representatives of the developer.
(b) The board shall elect the officers of the association.
Terms Used In Texas Property Code 221.084
- Association: means a council or association composed of all persons who have purchased a timeshare interest. See Texas Property Code 221.002
- Board: means the governing body of a timeshare association designated in a project instrument to act on behalf of the association. See Texas Property Code 221.002
- Developer: means :
(A) any person, excluding a sales agent, who creates a timeshare plan or is in the business of selling timeshare interests or employs a sales agent to sell timeshare interests; or
(B) any person who succeeds in the developer's interest by sale, lease, assignment, mortgage, or other transfer if the person:
(i) offers at least 12 timeshare interests in a particular timeshare plan; and
(ii) is in the business of selling timeshare interests or employs a sales agent to sell timeshare interests. See Texas Property Code 221.002
(c) The board members and officers of the association take office on election.