---
kind: "section"
citation: "15 U.S.C. § 1706"
title: "15"
title_heading: "Commerce and Trade"
number: "1706"
heading: "Effective date of statements of record and amendments thereto"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/15/1706"
units:
  - "Chapter 42 — Interstate Land Sales"
---

# §1706. Effective date of statements of record and amendments thereto

- (a) **Thirtieth day after filing or such earlier date as determined by Director; consolidation of subsequent statement with earlier recording—** Except as hereinafter provided, the effective date of a statement of record, or any amendment thereto, shall be the thirtieth day after the filing thereof or such earlier date as the [Director](/usc/15/1701.md?p=1) may determine, having due regard to the public interest and the protection of [purchasers](/usc/15/1701.md?p=10). If any amendment to any such statement is filed prior to the effective date of the statement, the statement shall be deemed to have been filed when such amendment was filed; except that such an amendment filed with the consent of the [Director](/usc/15/1701.md?p=1), or filed pursuant to an order of the [Director](/usc/15/1701.md?p=1), shall be treated as being filed as of the date of the filing of the statement of record. When a [developer](/usc/15/1701.md?p=5) records additional lands to be offered for disposition, he may consolidate the subsequent statement of record with any earlier recording offering subdivided land for disposition under the same promotional plan. At the time of consolidation the [developer](/usc/15/1701.md?p=5) shall include in the consolidated statement of record any material changes in the information contained in the earlier statement.
- (b) **Incomplete or inaccurate statements of record—** If it appears to the [Director](/usc/15/1701.md?p=1) that a statement of record, or any amendment thereto, is on its face incomplete or inaccurate in any material respect, the [Director](/usc/15/1701.md?p=1) shall so advise the [developer](/usc/15/1701.md?p=5) within a reasonable time after the filing of the statement or the amendment, but prior to the date the statement or amendment would otherwise be effective. Such notification shall serve to suspend the effective date of the statement or the amendment until thirty days after the [developer](/usc/15/1701.md?p=5) files such additional information as the [Director](/usc/15/1701.md?p=1) shall require. Any [developer](/usc/15/1701.md?p=5), upon receipt of such notice, may request a hearing, and such hearing shall be held within twenty days of receipt of such request by the [Director](/usc/15/1701.md?p=1).
- (c) **Amendment of statement of record—** If, at any time subsequent to the effective date of a statement of record, a change shall occur affecting any material fact required to be contained in the statement, the [developer](/usc/15/1701.md?p=5) shall promptly file an amendment thereto. Upon receipt of any such amendment, the [Director](/usc/15/1701.md?p=1) may, if he determines such action to be necessary or appropriate in the public interest or for the protection of [purchasers](/usc/15/1701.md?p=10), suspend the statement of record until the amendment becomes effective.
- (d) **Suspension of statement of record containing untrue statement or omission to state material fact; notice and hearing; termination of order of suspension—** If it appears to the [Director](/usc/15/1701.md?p=1) at any time that a statement of record, which is in effect, includes any untrue statement of a material fact or omits to [state](/usc/15/1701.md?p=9) any material fact required to be stated therein or necessary to make the statements therein not misleading, the [Director](/usc/15/1701.md?p=1) may, after notice, and after opportunity for hearing (at a time fixed by the [Director](/usc/15/1701.md?p=1)) within fifteen days after such notice, issue an order suspending the statement of record. When such statement has been amended in accordance with such order, the [Director](/usc/15/1701.md?p=1) shall so declare and thereupon the order shall cease to be effective.
- (e) **Examination to determine issuance of order; access to records; order suspending statement of record upon failure to cooperate—** The [Director](/usc/15/1701.md?p=1) is hereby empowered to make an examination in any case to determine whether an order should issue under [subsection (d)](#d). In making such examination, the [Director](/usc/15/1701.md?p=1) or anyone designated by him shall have access to and may demand the production of any books and papers of, and may administer oaths and affirmations to and examine, the [developer](/usc/15/1701.md?p=5), any [agents](/usc/15/1701.md?p=6) or any other [person](/usc/15/1701.md?p=2), in respect of any matter relevant to the examination. If the [developer](/usc/15/1701.md?p=5) or any [agents](/usc/15/1701.md?p=6) shall fail to cooperate, or shall obstruct or refuse to permit the making of an examination, such conduct shall be proper ground for the issuance of an order suspending the statement of record.
- (f) **Service of notices—** Any notice required under this section shall be sent to or served on the [developer](/usc/15/1701.md?p=5) or his authorized [agent](/usc/15/1701.md?p=6).

## Source credit

(Pub. L. 90–448, title XIV, § 1407, Aug. 1, 1968, 82 Stat. 593; Pub. L. 111–203, title X, § 1098A(1), July 21, 2010, 124 Stat. 2105.)

## Notes

### Editorial Notes

### Amendments

2010—Pub. L. 111–203 substituted “Director” for “Secretary” wherever appearing.

### Statutory Notes and Related Subsidiaries

### Effective Date of 2010 Amendment

Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.

### Effective Date

Section effective upon the expiration of two hundred and seventy days after Aug. 1, 1968, see section 1423 of Pub. L. 90–448, set out as a note under section 1701 of this title.