2013 Hawaii Revised Statutes
TITLE 25. PROFESSIONS AND OCCUPATIONS
467. Real Estate Brokers and Salespersons
467-1.6 Principal brokers.

§467-1.6 Principal brokers. (a) The principal broker shall have direct management and supervision of the brokerage firm and its real estate licensees.

(b) The principal broker shall be responsible for:

(1) The client trust accounts, disbursements from those accounts, and the brokerage firm's accounting practices;

(2) The brokerage firm's records, contracts, and documents;

(3) All real estate contracts of the brokerage firm and its handling by the associated real estate salesperson;

(4) The proper handling of any commission application, real estate license application, or renewal application that the principal broker or the brokerage firm expressly agrees to handle on behalf of the applicant, including without limitation, verifying for completeness and appropriate fees, and mailing or delivering the appropriate documents to the commission by the required deadline;

(5) Developing policies and procedures for the brokerage firm concerning the handling of real estate transactions and the conduct of the associated real estate licensees and other staff, including education and enforcement of the policies and procedures;

(6) Setting a policy on continuing education requirements for all associated real estate licensees in compliance with the statutory requirement;

(7) Ensuring that the licenses of all associated real estate licensees and the brokerage firm license are current and active;

(8) Establishing and maintaining a training program for all associated real estate licensees; and

(9) Ensuring that all associated real estate licensees are provided information and training on the latest amendments to real estate licensing laws and rules as well as other related laws and rules.

(c) The principal broker may delegate management and supervision duties to one or more brokers in charge subject to the principal broker's written policies and procedures. The principal broker shall be responsible for the education, enforcement, and records required of such policies and procedures. [L 1999, c 47, pt of §2; am L 2002, c 129, §2]