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Title 24: Housing and Urban Development
Subtitle A: Office of the Secretary, Department of Housing and Urban Development
PART 30: CIVIL MONEY PENALTIES: CERTAIN PROHIBITED CONDUCT
Subpart B: Violations
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 $1,375,000 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; 72 FR 5588, Feb. 6, 2007]
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