reglab/housing_qa huggingface dataset:
HI Rev Stat § 514E-9.8 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|514E. Time Sharing Plans|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-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]
HI Rev Stat § 514E-10.3 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|514E. Time Sharing Plans|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-10.3 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]
HI Rev Stat § 514E-10.5 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|514E. Time Sharing Plans|514E-10.5 Consultant review of developer filing.

 §514E-10.5 Consultant review of developer filing. The director may contract with private consultants in connection with the review of the filing required of time share developers pursuant to section 514E-10(a) and [(e)]. The cost of contracting private consultants shall be borne by the developer; provided that the consultant review required under this section shall not affect the scope of the review under section 514E-27 that the director may request for filings that encompass alternative arrangements for purchaser protection. The consultant shall be asked to thoroughly review the filing for the purpose of examining its compliance with the requirements of this chapter and any rule adopted by the director, including the documentation and other provided materials. Upon completing the review, the consultant shall provide a written analysis of the filing and an opinion of the nature and extent to which it complies with this chapter and adopted rules. The director may adopt rules pursuant to chapter 91 to further delineate the duties of the consultant in undertaking the review and analysis required pursuant to this section. [L 1984, c 41, pt of §1; am L 1994, c 91, §2]
HI Rev Stat § 514E-11.2 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|514E. Time Sharing Plans|514E-11.2 Power to enjoin.

  §514E-11.2 Power to enjoin. (a) Whenever it shall appear to the director, upon complaint or otherwise, that any person has engaged in, is engaged in, or is about to engage in any act, practice or transaction in violation of this chapter or the rules of the director adopted pursuant thereto, the director may conduct an investigation of the matter. Whenever the director finds that such person has engaged in, is engaged in, or is about to engage in any act, practice or transaction in violation of this chapter or the rules of the director adopted pursuant thereto, the director may, in addition to any other remedies, bring suit in the name and on behalf of the State against such person and any other person or persons concerned in, or in any way participating in, or about to participate in such act, practice or transaction in violation of this chapter or rules adopted pursuant thereto, to enjoin such person and such other person or persons from continuing such act, practice or transaction, or engaging therein, or doing any act or acts in furtherance thereof or in violation of this chapter or rules adopted pursuant thereto.   (b) The court shall give priority to the expeditious processing of suits under this section.   (c) The remedies under this section are in addition to any other remedy provided by this chapter or by law. [L 1981, c 81, pt of §1; am L 1984, c 41, §5]
HI Rev Stat § 514E-11.3 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|514E. Time Sharing Plans|514E-11.3 Remedies; sales voidable; when and by whom.

 §514E-11.3 Remedies; sales voidable; when and by whom. Every sale or transfer made in violation of this chapter shall be voidable at the election of the purchaser. Without limiting any other remedy of the purchaser, the person making the sale or transfer and every director, officer, or agent of or for the seller, if the director, officer, or agent has personally participated or aided in any way in making the sale, transfer, or solicitation, shall be jointly and severally liable to the purchaser in any action at law in any court of competent jurisdiction upon tender of the time share interest sold, or of the contract made, for the full amount paid by the purchaser, with interest at the rate of ten per cent a year from the date of payment by the purchaser, together with all taxable court costs and reasonable attorney's fees, less a pro rata portion of the amount paid representing the portion of any benefits the purchaser actually received or had the right to receive during the time preceding tender. [L 1981, c 81, pt of §1] Revision Note  Subsection (a) designation deleted pursuant to §23G-15.
HI Rev Stat § 514E-11.4 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|514E. Time Sharing Plans|514E-11.4 Defense to action.

 §514E-11.4 Defense to action. In the event a purchaser of a time share interest brings an action for damages under this chapter or under chapter 480, pursuant to section 514E-11.1, it shall be a defense to the action that:   (1) The seller offered in writing to cancel the sale of the time share interest within fifteen days of receipt of written notification by the purchaser of an alleged violation of this chapter or chapter 480, pursuant to section 514E-11.1;   (2) The seller simultaneously with the offer of cancellation offered in writing to refund the full amount paid by the purchaser, together with interest thereon at the rate of ten per cent a year from the date of payment by the purchaser until the date of repayment, less a pro rata portion of the amount paid representing the portion of any benefits the purchaser actually received or had the right to receive during the time preceding cancellation; and   (3) The purchaser refused or failed to accept the written offer of cancellation and refund within thirty days from the date the purchaser received the seller's written offer of cancellation and refund. [L 1981, c 81, pt of §1]
HI Rev Stat § 514E-12 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|514E. Time Sharing Plans|514E-12 Civil penalty; suspension or revocation of registrations.

  §514E-12 Civil penalty; suspension or revocation of registrations. (a) For any cause authorized by law, including but not limited to a determination by the director that any person has violated any provision of this chapter or any rule adopted by the director pursuant to this chapter, or that a person has authorized, directed, ordered, or personally participated in any violation of this chapter or any rule adopted by the director pursuant to this chapter, in addition to any other actions authorized by law, the director:  (1) May fine the person a sum of not less than $500 nor more than $25,000 for each separate offense; provided that each date of violation shall constitute a separate offense; and  (2) May issue an order suspending or revoking the registration of the person and the right of the person to offer or sell time share interests or otherwise engage in time share activities.  (b) If the director makes a finding of fact in writing that the public interest will be irreparably harmed by delay in issuing an order the director may issue a temporary cease and desist order. Prior to issuing the temporary cease and desist order, the director whenever possible by telephone or otherwise shall give notice to the person of the proposal to issue a temporary cease and desist order. Every temporary cease and desist order shall be effective for a period of ten days and shall include in its terms a provision that a hearing will be held promptly to determine whether or not it shall remain permanently in effect following the expiration of the ten-day period; provided that if the person subject to the temporary cease and desist order is granted a continuance of the hearing, the temporary cease and desist order shall remain in effect throughout the period of such continuance. If the director determines that any person has failed to comply with a temporary cease and desist order issued by the director, then the director may subject such person to the penalties set forth in subsections (a)(1) and (a)(2) of this section. [L 1980, c 186, pt of §1; am L 1981, c 81, §7; am L 1984, c 41, §6; am L 1992, c 202, §179; am L 1994, c 91, §4]
HI Rev Stat § 514E-12.5 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|514E. Time Sharing Plans|514E-12.5 Statutory or common-law remedies.

 §514E-12.5 Statutory or common-law remedies. Nothing in this chapter shall limit any statutory or common-law right of any person to bring any action in any court for any act involved in the development, sale, exchange, or purchase of a time share interest, or right of the State to punish any person for any violation of law. [L 1981, c 81, pt of §1]
HI Rev Stat § 514E-13 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|514E. Time Sharing Plans|514E-13 Authority of director.

  §514E-13 Authority of director. The director and the several counties may adopt rules and forms, pursuant to chapter 91, to effectuate the purpose of this chapter and to implement its provisions. The director shall submit an annual report to the legislature. [L 1980, c 186, pt of §1]
HI Rev Stat § 514E-14 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|514E. Time Sharing Plans|514E-14 Preexisting time share units and plans.

  §514E-14 Preexisting time share units and plans. Time share units and time share plans for existing units which were created in a project prior to June 29, 1980, shall, within six months after June 29, 1980, comply with this chapter, except as to section 514E-5. [L 1980, c 186, pt of §1] Revision Note  "June 29, 1980" substituted for "the effective date of this Act" and "the effective date".
HI Rev Stat § 514E-15 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|514E. Time Sharing Plans|514E-15 Severability.

  §514E-15 Severability. If any provision of this chapter or the application thereof to any person or circumstance, is held invalid, the invalidity thereof shall not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application. To that end, the provisions of this chapter are severable. [L 1981, c 81, §8]
HI Rev Stat § 514E-16 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|514E. Time Sharing Plans|514E-16 Deposit of purchaser's funds, notes, and contracts into escrow.

  §514E-16 Deposit of purchaser's funds, notes, and contracts into escrow. (a) All funds and any negotiable instruments and purchase money contracts received before closing from or on behalf of purchasers or prospective purchasers in connection with the purchase or reservation of time share interests must be placed in an escrow account. However, the developer or a sales agent may hold, until the expiration of the seven-day-cancellation period provided by section 514E-8 or any longer purchaser cancellation period provided in the sales contract, a negotiable instrument, or purchase money contract made by a purchaser:  (1) For which subsequent holders cannot claim holder in due course status within the meaning of article 3 of chapter 490; or  (2) Where the payee is:  (A) The escrow agent; or  (B) The trustee of a lien payment trust.  (b) The escrow agent must be a bank, savings and loan association, or a trust company authorized to do business in the State under an escrow arrangement or a corporation licensed as an escrow depository under chapter 449. However, in connection with sales made out of the State for the use of time share units located in the State, the escrow agent may be located in and the purchasers' funds, negotiable instruments, and purchase money contracts may be impounded in the jurisdiction where the sale is made, if the law of such jurisdiction requires it. In such event, the out-of-state escrow agent shall be subject to the approval of the director.  (c) The establishment of such an escrow account shall be evidenced by a written escrow agreement between the developer and the in-state or out-of-state escrow agent. The escrow agreement must provide for the handling of purchaser's funds, negotiable instruments, and purchase money contracts as required by this chapter and must contain any provisions required by rules adopted by the director pursuant to chapter 91. [L 1982, c 186, §3; am L 1985, c 114, §5] Cross References  Leasehold time share interests, see § §501-241 to 501-248.
HI Rev Stat § 514E-17 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|514E. Time Sharing Plans|514E-17 Release of purchaser's funds, notes, and contracts from escrow without a closing.

  §514E-17 Release of purchaser's funds, notes, and contracts from escrow without a closing. A purchaser's funds, negotiable instruments, and purchase money contracts may be released from escrow without a closing as follows:  (1) If a purchaser or developer gives a valid notice of cancellation of the contract pursuant to section 514E-8, all of the purchaser's funds and any negotiable instruments and purchase money contracts made by the purchaser shall be returned to the purchaser within fifteen days after the notice of cancellation is received.  (2) If a purchaser or developer properly terminates a contract pursuant to its terms, or if a developer or prospective purchaser terminates a reservation agreement, all of the purchaser's funds and any negotiable instruments and purchase money contracts made by the purchaser or prospective purchaser shall be delivered in accordance with the contract or reservation agreement.  (3) If the purchaser defaults in the performance of the purchaser's obligations under the contract, all of the purchaser's funds and any negotiable instruments or purchase money contracts made by the purchaser under the contract shall be delivered in accordance with the contract.  (4) If purchaser's funds are to be used for construction the funds may be disbursed by the escrow agent from time to time to pay for:  (A) Construction costs of the buildings and improvements in proportion to the valuation of the work completed by the contractor in accordance with the contract documents, as certified by a registered architect or engineer and approved for payment by the construction lender;  (B) Architectural, engineering, and interior design service fees in proportion to the services performed within each phase of services, as approved by the construction lender;  (C) The costs of purchasing furnishings and fixtures for the time share units, as approved by the construction lender; and  (D) Finance and legal fees, and other incidental expenses of constructing the time share units or developing the time share plan as approved by the construction lender;  provided that no such disbursements shall be made unless the developer first deposits with the director (i) a copy of the executed construction contract, (ii) a copy of executed performance and labor and material payment bonds in an amount which is not less than one hundred per cent of the cost of construction and covering any changes to the contract which do not in the aggregate increase the amount of the construction contract by more than ten per cent, (iii) a verified statement showing all costs involved in completing the project, and (iv) satisfactory evidence acceptable to the director of funds sufficient to cover the total costs of constructing, furnishing, and completing the project from purchaser's funds, equity funds, interim or permanent loan commitments or other sources. [L 1982, c 186, §4; gen ch 1985] Revision Note  Subsection (a) designation deleted pursuant to §23G-15.
HI Rev Stat § 514E-18 (2021)
2021 Hawaii Revised Statutes|Title 28. Property|514E. Time Sharing Plans|514E-18 Release of purchaser's funds, notes, and contracts from escrow upon closing.

  §514E-18 Release of purchaser's funds, notes, and contracts from escrow upon closing. (a) Upon the closing of the escrow for the sale of a time share interest, the purchaser's funds and any negotiable instruments and purchase money contracts made by the purchaser shall be delivered by the escrow agent:  (1) To the trustee of a lien payment trust if a lien payment trust is established pursuant to section 514E-19 to protect purchasers from blanket liens;  (2) As provided by any alternative arrangements accepted by the director pursuant to section 514E-27 where such alternative arrangements are used pursuant to section 514E-19 to protect purchasers from blanket liens; or  (3) To the developer only after the requirements of any other alternative under section 514E-19 for protecting purchasers from blanket liens have been satisfied.  (b) Notwithstanding any other provisions of this chapter, the escrow agent may not release the purchaser's funds, negotiable instruments, and purchase money contracts from the escrow account to or for the benefit of the developer or a sales agent or for construction until:  (1) The seven-day cancellation period under section 514E-8 expires as to the purchaser whose funds are being released; and  (2) The escrow agent receives a sworn statement from the developer that:  (A) No cancellation notice postmarked on a date within the seven-day cancellation period was received from the purchaser whose funds are being released; and  (B) No cancellation notice was otherwise received during the seven-day cancellation period from the purchaser whose funds are being released. [L 1982, c 186, §5; am L 1985, c 114, §6] Revision Note  In subsection (a)(1), "or" deleted after ending punctuation pursuant to §23G-15.