Before the disposition of any membership interest or membership right in a membership camping resort, the operator shall maintain the following insurance with respect to the membership camping resort: (13398)
(1) property insurance on any personal property for use by purchasers, other than personal property separately owned by a purchaser, insuring against all risks of direct physical loss commonly insured against in a total amount, after application of deductibles, of the insurable value of the personal property of the membership camping resort; and (13399)
(2) liability insurance covering all occurrences commonly insured against for death, bodily injury, and property damage arising out of or in connection with the use, ownership, and maintenance of the membership camping resort. (13400)
Added by Acts 1989, 71st Leg., ch. 2, Sec. 13.03(d), eff. Aug. 28, 1989. (13401)
The filing of a registration under this chapter exempts the sale of a membership interest or membership right in a membership camping resort subject to this chapter from registration under The Securities Act (Article 581-1 et seq., Vernon's Texas Civil Statutes). (13403)
Added by Acts 1989, 71st Leg., ch. 2, Sec. 13.03(d), eff. Aug. 28, 1989. (13404)
This chapter may be cited as the Texas Uniform Disclaimer of Property Interests Act. (13408)
Added by Acts 2015, 84th Leg., R.S., Ch. 562 (H.B. 2428), Sec. 15, eff. September 1, 2015. (13409)
In this chapter: (13411)
(1) "Current beneficiary" and "presumptive remainder beneficiary" have the meanings assigned by Section 112.071. (13412)
(2) "Disclaim" means to refuse to accept an interest in or power over property, including an interest or power the person is entitled to: (13413)
(A) by inheritance; (13414)
(B) under a will; (13415)
(C) by an agreement between spouses for community property with a right of survivorship; (13416)
(D) by a joint tenancy with a right of survivorship; (13417)
(E) by a survivorship agreement, account, or interest in which the interest of the decedent passes to a surviving beneficiary; (13418)
(F) by an insurance, annuity, endowment, employment, deferred compensation, or other contract or arrangement; (13419)
(G) under a pension, profit sharing, thrift, stock bonus, life insurance, survivor income, incentive, or other plan or program providing retirement, welfare, or fringe benefits with respect to an employee or a self-employed individual; or (13420)
(H) by an instrument creating a trust. (13421)
(3) "Disclaimant" means: (13422)
(A) the person to whom a disclaimed interest or power would have passed had the disclaimer not been made; (13423)
(B) the estate to which a disclaimed interest or power would have passed had the disclaimer not been made by the personal representative of the estate; or (13424)
(C) the trust into which a disclaimed interest or power would have passed had the disclaimer not been made by the trustee of the trust. (13425)
(4) "Disclaimed interest" means the interest that would have passed to the disclaimant had the disclaimer not been made. (13426)
(5) "Disclaimed power" means the power that would have been possessed by the disclaimant had the disclaimer not been made. (13427)
(6) "Disclaimer" means the refusal to accept an interest in or power over property. (13428)
(7) "Estate" has the meaning assigned by Section 22.012, Estates Code. (13429)
(8) "Fiduciary" means a personal representative, a trustee, an attorney in fact or agent acting under a power of attorney, or any other person authorized to act as a fiduciary with respect to the property of another person. (13430)
(9) "Guardian" has the meaning assigned by Section 1002.012, Estates Code. (13431)
(10) Notwithstanding Section 311.005, Government Code, "person" means an individual, corporation, including a public corporation, business trust, partnership, limited liability company, association, joint venture, governmental entity, including a political subdivision, agency, or instrumentality, or any other legal entity. (13432)
(11) "Personal representative" has the meanings assigned by Sections 22.031 and 1002.028, Estates Code. (13433)
(12) "State" means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. The term includes an Indian tribe or band, or Alaskan native village, recognized by federal law or formally acknowledged by a state. (13434)
(13) "Survivorship property" means property held in the name of two or more persons under an arrangement in which, on the death of one of the persons, the property passes to and is vested in the other person or persons. The term includes: (13435)
(A) property held by an agreement described in Section 111.001, Estates Code; (13436)
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