TITLE 19 OF THE NEW YORK CODE OF RULES AND REGULATIONS
                  PART 135 -  SUBDIVIDED LANDS

                                               
Section 135.1  Filing statement and related documents. 
 
     (a) The filing statement shall contain or be accompanied by all of the 
items of information required by Real Property Law §337-a and §338(4).  The 
filing statement shall also be accompanied by the offering statement required
by Real Property Law §337-b.
     (b) Maps.  Submitted maps must comply with Real Property Law §337-a(8).

Section 135.2  Offering statement.

     (a)(1) Pursuant to the authority granted under Real Property Law §337-
b(2), the Department of State designates, except and to the extent set forth 
in (2), below, the information listed in §337-b, Subdivision one, (a) through
(f), as not being necessary or appropriate in the public interest or for the 
protection of purchasers, and such information therefore may be omitted from 
the offering statement.
     (2) The offering statement shall include the name and address of the 
subdivider, and a description and identification of the subdivision 
reasonably sufficient to locate the property.

     (b) The offering statement shall conspicuously include the following 
statement:

     "Any purchase of land can involve significant financial and legal risks.
Risks can include possible problems with title, overpricing, land use 
limitations, and many other issues.  Prospective buyers should evaluate those
risks by consulting with their own attorney, real estate appraiser, or other 
qualified professional."

          12-point, or larger, bold type, on the first page of the offering 
statement will normally be considered as conspicuous.

          (c) The first page of the offering statement must include the 
statement required by Real Property Law §337-b(5).

Section 135.3 Inspections. (a) Any inspection of any lots by the department
shall be confined to the property embraced and described in the 
filing statement. An inspection, when performed, shall be for the purpose of
ascertaining to a greater degree the veracity and reliability of the 
information provided in the filing statement, the offering statement and 
related material. When an inspection is performed, the offeror shall make 
every reasonable effort, consistent with  geographic and climatic conditions
and the extent of existing development, to make all lots accessible to the 
inspector, and to provide such other and related information as may be 
reasonable requested.

     (b) When an offeror has paid to the department the monies covering the
cost and expenses required under article 9-A for the performance of an 
inspection and the offeror has:

          (1) withdrawn its filing prior to such submission; or
          (2) submitted additional filings for additional lots or units 
consolidated with the original offering and the department has inspected such
consolidated properties simultaneously; or
          (3) the department determines thereafter not to conduct an 
inspection, then in any of such events and upon written request therefor by 
the offeror, the department shall render to the offeror an accounting of the 
actual expenses incurred, and shall refund any such monies not actually used
for such purpose, subject to approval by the State Comptroller.
  
135.4 Advertising. All advertising must comply with Real Property Law §337-
b(3) and (5).