THE INTERSTATE LAND SALES FULL DISCLOSURE ACT AMENDMENTS HEARINGS BEFORE THE SUBCOMMITTEE ON HOUSING AND COMMUNITY DEVELOPMENT OF THE COMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS NINETY-FIFTH CONGRESS SECOND SESSION ON H.R. 11265 A BILL TO AMEND AND EXTEND CERTAIN FEDERAL LAWS H.R. 12574 A BILL TO REVISE THE INTERSTATE LAND SALES FULL DISCLOSURE ACT H.R. 3084 AN ACT TO AMEND AND EXTEND CERTAIN FEDERAL LAWS AUGUST 1, 2, AND 3, 1978 Printed for the use of the Committee on Banking, Finance and Urban Affairs COMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS HENRY S. REUSS, Wisconsin, Chairman THOMAS L. ASHLEY, Ohio WILLIAM S. MOORHEAD, Pennsylvania District of Columbia STEPHEN L. NEAL, North Carolina PAUL E. TSONGAS, Massachusetts NORMAN E. D'AMOURS, New Hampshire JOHN J. CAVANAUGH, Nebraska MARY ROSE OAKAR, Ohio JIM MATTOX, Texas BRUCE F. VENTO, Minnesota J. WILLIAM STANTON, Ohio NEWTON I. STEERS, JR., Maryland THOMAS B. EVANS, JR., Delaware CONTENTS Anaya, Hon. Toney, attorney general of the State of New Mexico, accom- Halloran, Jean, on behalf of INFORM, a public interest group; accom- Hempel, John E., assistant commissioner for policy and planning, depart- 585 Pfersich, Gordon, director, division of land sales and condominiums, de- Roberts, David D., vice chairman, Realtors Legislative Committee, National Association of Realtors; accompanied by Albert E. Abrahams, Smith, Herman J., vice president, National Association of Home Builders; accompanied by Robert D. Bannister, senior staff vice president, and Gary Paul Kane, associate legislative counsel ___ Steinman, Edward D., Acting Assistant Director, Division of Marketing Abuses. Federal Trade Commission; accompanied by John M. Tifford, staff attorney in the land sales program.. Worthy, Patricia, Administrator, Office of Interstate Land Sales Regis- tration, Department of Housing and Urban Development; accompanied 654 461 ADDITIONAL INFORMATION SUBMITTED FOR INCLUSION IN THE RECORD 269 Resolution adopted at 1978 annual meeting, National Association of Ashley, Chairman Thomas L., letter dated August 9, 1978, from Frank J. Kelley, attorney general, State of Michigan, with enclosed "Comments 198 |