Compliance Bulletin-Amendment to the Interstate Land Sales Full Disclosure Act

49127 Federal Register / Vol. 80, No. 158 / Monday, August 17, 2015 / Rules and Regulations PARTS 10003–10049—[RESERVED] Dated: August 11, 2015. Rebecca Cokley, Executive Director.

[FR Doc. 2015–20140 Filed 8–14–15; 8:45 am] BILLING CODE 8421–03–P BUREAU OF CONSUMER FINANCIAL PROTECTION 12 CFR Part 1010 Compliance Bulletin—Amendment to the Interstate Land Sales Full Disclosure Act AGENCY: Bureau of Consumer Financial Protection.

ACTION: Compliance bulletin. SUMMARY: The Bureau of Consumer Financial Protection is issuing a compliance bulletin titled ‘‘Amendment to the Interstate Land Sales Full Disclosure Act’’ to provide information to developers and other interested parties relating to a recent Congressional amendment to the Interstate Land Sales Full Disclosure Act.

DATES: This bulletin is applicable August 17, 2015.

FOR FURTHER INFORMATION CONTACT: Amanda Quester, Senior Counsel, Office of Regulations, at (202) 435–7700. SUPPLEMENTARY INFORMATION: I. Compliance Bulletin The Consumer Financial Protection Bureau (Bureau) issues this compliance bulletin to provide information to developers and other interested parties relating to Public Law 113–167, 128 Stat. 1882 (2014), which amended the Interstate Land Sales Full Disclosure Act (ILSA). This ILSA amendment was signed by the President on September 26, 2014. It became effective on March 25, 2015, and is codified primarily at 15 U.S.C. 1702(b)(9) and (d). The amendment exempts from ILSA’s registration and disclosure requirements the sale or lease of a condominium unit that is not exempt under 15 U.S.C. 1702(a). Under 15 U.S.C. 1702(d), a ‘‘condominium unit’’ is defined for purposes of this new exemption as a unit of residential or commercial property to be designated for separate ownership pursuant to a condominium plan or declaration provided that upon conveyance: (1) The owner of such unit will have sole ownership of the unit and an undivided interest in the common elements appurtenant to the unit; and (2) the unit will be an improved lot. Pursuant to § 1010.4(d) of the Bureau’s ILSA regulations, eligibility for an exemption under 15 U.S.C. 1702, including the exemption of section 1702(b)(9), is self-determining, and a developer is not required to file notice with or obtain the approval of the Bureau in order to take advantage of an exemption. Section 1010.4(d) also provides that a developer is responsible for maintaining records to demonstrate that the requirements of an exemption have been met if a developer elects to take advantage of an exemption. The Bureau will continue to process filings made by developers seeking to fulfill their obligations under ILSA and its implementing regulations. If you have questions about ILSA program operations, you may contact ILSA program staff via email to CFPB_ [email protected] or at the address below: Consumer Financial Protection Bureau, Interstate Land Sales Program, 1700 G St. NW., Attn: 1625 Eye St., Room 3093, Washington, DC 20552. If you have a question regarding the interpretation of ILSA or the Bureau’s implementing regulations, please email [email protected] with your specific question, including reference to the applicable regulation section(s). Bureau staff responding to queries cannot provide legal advice and are not authorized to provide official interpretations of ILSA or of the Bureau’s implementing regulations. II. Regulatory Requirements This Compliance Bulletin summarizes existing requirements under the law, and does not itself establish any binding obligations. It is therefore exempt from notice and comment rulemaking requirements under the Administrative Procedure Act pursuant to 5 U.S.C. 553(b). Because no notice of proposed rulemaking is required, the Regulatory Flexibility Act does not require an initial or final regulatory flexibility analysis. 5 U.S.C. 603(a), 604(a). The Bureau has determined that this Compliance Bulletin does not impose any new or revise any existing recordkeeping, reporting, or disclosure requirements on covered entities or members of the public that would be collections of information requiring OMB approval under the Paperwork Reduction Act, 44 U.S.C. 3501 et seq. Dated: August 10, 2015. Richard Cordray, Director, Bureau of Consumer Financial Protection.

[FR Doc. 2015–19998 Filed 8–14–15; 8:45 am] BILLING CODE 4810–AM–P DEPARTMENT OF TRANSPORTATION Federal Aviation Administration 14 CFR Part 39 [Docket No. FAA–2015–3398; Directorate Identifier 2015–CE–031–AD; Amendment 39–18232; AD 2015–16–07] RIN 2120–AA64 Airworthiness Directives; REIMS AVIATION S.A. Airplanes AGENCY: Federal Aviation Administration (FAA), DOT. ACTION: Final rule; request for comments.

SUMMARY: We are adopting a new airworthiness directive (AD) for REIMS AVIATION S.A. Model F406 airplanes. This AD results from mandatory continuing airworthiness information (MCAI) issued by the aviation authority of another country to identify and correct an unsafe condition on an aviation product. The MCAI describes the unsafe condition as detachment of the pilot’s rudder control pedal in flight. We are issuing this AD to require actions to address the unsafe condition on these products.

DATES: This AD is effective August 18, 2015.

The Director of the Federal Register approved the incorporation by reference of a certain publication listed in the AD as of August 18, 2015.

We must receive comments on this AD by October 1, 2015.

ADDRESSES: You may send comments by any of the following methods: • Federal eRulemaking Portal: Go to http://www.regulations.gov. Follow the instructions for submitting comments. • Fax: (202) 493–2251.

• Mail: U.S. Department of Transportation, Docket Operations, M– 30, West Building Ground Floor, Room W12–140, 1200 New Jersey Avenue SE., Washington, DC 20590.

• Hand Delivery: U.S. Department of Transportation, Docket Operations, M– 30, West Building Ground Floor, Room W12–140, 1200 New Jersey Avenue SE., Washington, DC 20590, between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. For service information identified in this AD, contact ASI Aviation, Ae´rodrome de Reims Prunay, 51360 Prunay, FRANCE; phone: +33 3 26 48 46 65; fax: +33 3 26 49 18 57; email: none; Internet: http://asi-aviation.fr/asiaviation-support/1.html (requires user name and password). You may view this referenced service information at the FAA, Small Airplane Directorate, 901 VerDate Sep<11>2014 16:26 Aug 14, 2015 Jkt 235001 PO 00000 Frm 00011 Fmt 4700 Sfmt 4700 E:\FR\FM\17AUR1.SGM 17AUR1 tkelley on DSK3SPTVN1PROD with RULES