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2023 Hawaii Revised Statutes
Title 28. Property
514E. Time Sharing Plans
- 514E-1 Definitions.
- 514E-1.5 Time share administrator; duties.
- 514E-2 Status of property.
- 514E-2.5 Licensing of sales agents and acquisition agents.
- 514E-2.6 REPEALED. L 2001, c 71, §1.
- 514E-3 Taxation.
- 514E-4 County authority.
- 514E-5 Geographic limitations.
- 514E-5.5 Foreign time share plans; exemption.
- 514E-6 Time sharing in projects.
- 514E-6.5 Voting rights for time share units.
- 514E-7 Maintenance charges.
- 514E-8 Mutual right to cancel.
- 514E-8.5 Classes of time share interests. (a) A time share plan may establish classes of time share interests defined by characteristics as the developer shall determine, including but not limited to season, unit size, location, view, or otherwise. (b) If one or more of the time share units will not be available for the entire duration of the time share plan then, in addition to other characteristics as the developer shall determine, the time share interests shall be classified by duration. [L 1997, c 372, pt of §1]
- 514E-8.6 One-to-one use-right to use-night requirement.
- 514E-9 Disclosure statement.
- 514E-9.1 Disclosure statement; prospective purchasers.
- 514E-9.5 Exchange program; general provisions.
- 514E-9.8 Time share interest owner referrals. (a) An owner of an interest in a time share plan duly registered under this chapter who is not licensed under chapter 467 and provides the name and address of a prospective purchaser or otherwise refers a prospective purchaser of an interest in the same time share plan to a developer, sales agent, or resale agent of the time share plan shall be exempt from licensing requirements under chapter 467; provided that: (1) Any fee paid to the owner shall be in the form of a credit or other nonmonetary compensation and shall not exceed $1,000 per project during any twelve-month calendar period; (2) The owner shall be limited to providing the name and address of the prospective purchaser and the owner shall not advertise or promote the time share plan or the referral provided to developers, sales agents, or resale agents under this section; and (3) The developer, sales agent, or resale agent shall provide the owner who received a referral fee with a written receipt that identifies and provides the value of the compensation given. (b) Nothing in this chapter or in chapter 467, including section 467-14(14), shall be construed to prohibit or prevent a developer, sales agent, or resale agent from entering into a transaction with a time share interest owner pursuant to this section. [L 2001, c 223, §1]
- 514E-10 Registration required; developer, acquisition agent, plan manager, and exchange agent; registration renewal; title report; title holding trusts.
- 514E-10.2 Limited permit.
- 514E-10.3 Time share owners association; budgets and reserves. (a) For each fiscal year, the plan manager, or the board of the association if there is no plan manager, shall adopt an operating budget and distribute copies to all members of the association. The budget shall contain at least the following: (1) The estimated revenues and operating expenses of the association; (2) Information as to whether the budget has been prepared on a cash or accrual basis; (3) The total cash reserves of the association as of the date of the budget; (4) The estimated cash reserves the association will require to maintain the property; (5) A general explanation of how the estimated cash reserves are computed; and (6) The amount the association must collect for the year to fund the estimated cash reserves. (b) The plan manager, or the board of the association if there is no plan manager, shall arrange for an annual independent audit of the association's financial accounts conducted by a public accountant in accordance with generally accepted auditing standards. Upon request, a copy of the audit shall be provided to the director, to any member of the association, and any prospective purchaser. The audit report shall include such information as provided by rules adopted by the director pursuant to chapter 91. [L 1993, c 320, §1]
- 514E-10.5 Consultant review of developer filing.
- 514E-11 Prohibited practices.
- 514E-11.1 Deceptive trade practices.
- 514E-11.2 Power to enjoin.
- 514E-11.3 Remedies; sales voidable; when and by whom.
- 514E-11.4 Defense to action.
- 514E-12 Civil penalty; suspension or revocation of registrations.
- 514E-12.5 Statutory or common-law remedies.
- 514E-13 Authority of director.
- 514E-14 Preexisting time share units and plans.
- 514E-15 Severability.
- 514E-16 Deposit of purchaser's funds, notes, and contracts into escrow.
- 514E-17 Release of purchaser's funds, notes, and contracts from escrow without a closing.
- 514E-18 Release of purchaser's funds, notes, and contracts from escrow upon closing.
- 514E-19 Protection of purchasers from blanket liens.
- 514E-20 Effect of recording a nondisturbance agreement.
- 514E-21 Effect of recording a notice of time share plan.
- 514E-22 General requirements for trusts.
- 514E-23 Requirements for trustees.
- 514E-24 Additional requirements for lien payment trusts.
- 514E-25 Lien payment deposit.
- 514E-26 Termination of a trust.
- 514E-27 Alternative arrangements for purchaser protection.
- 514E-28 Requirements for surety bonds and letters of credit.
- 514E-29 Association; lien for delinquent assessments.
- 514E-30 Scope of chapter.
- 514E-31 Private right of action.
Cross References
Sunset evaluations modified, see 26H-4, 26H-5.
Time share commissioners of deeds, see chapter 503B.
Time share interest foreclosures, see 667-62 to 667-65.
Law Journals and Reviews
Timesharing in the 1990s. I HBJ, no. 13, at 89 (1997).
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