[Code of Federal Regulations]

[Title 24, Volume 1]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR30.55]



[Page 312]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

PART 30_CIVIL MONEY PENALTIES: CERTAIN PROHIBITED CONDUCT--Table of 

Contents

 

                          Subpart B_Violations

 

Sec.  30.55  Interstate Land Sales violations.



    (a) General. The Assistant Secretary for Housing-Federal Housing 

Commissioner, or his or her designee, may initiate a civil money penalty 

action against any person who knowingly and materially violates any 

provision of the Interstate Land Sales Full Disclosure Act (15 U.S.C. 

1701 et seq.); the rules and regulations set forth at 24 CFR parts 1710, 

1715, and 1720; or any order issued thereunder.

    (b) Continuing violation. Each day that a violation continues shall 

constitute a separate violation.

    (c) Amount of penalty. The maximum penalty is $1,100 for each 

violation, up to a limit for any particular person of $1,250,000 during 

any one-year period. Each violation shall constitute a separate 

violation as to each sale or lease or offer to sell or lease.



[61 FR 50215, Sept. 24, 1996, as amended at 68 FR 12788, Mar. 17, 2003]