Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 106 - TIME SHARING › Subchapter 2 - REGISTRATION REQUIREMENTS › Section 16-106-4.1 - Subsequent filing registration requirement

Current through June, 2024
(a) A developer
				shall submit the following to the director for the purpose of annexing any unit
				or units to a registered time share plan; provided that no subsequent filing
				application for registration of the additional unit or units shall be deemed
				complete, nor shall the same be accepted for registration, unless the
				prescribed information is provided separately tabbed and numbered in the exact
				order as follows:
(1) A subsequent filing
				application for registration on a form prescribed by the director;
(2) A copy of the declaration of annexation,
				if applicable, which contains the following:
(A) A legal description of the unit or units
				to be annexed, as well as the names and addresses of the record owner or owners
				thereof;
(B) A statement submitting
				each annexed unit to the declaration of covenants, conditions and restrictions
				for the time share plan, which declaration shall be identified by title and
				recording data; and
(C) A schedule
				of the use periods for each annexed unit;
(3) A revised disclosure statement reflecting
				the annexation of the unit or units to the time share plan; provided that this
				subsection shall not be subject to the requirements of section
				16-106-16;
(4) A current financial
				statement not more than ninety days old at the time of submission of the
				application, prepared in accordance with generally accepted accounting
				principles and certified by the developer or a certified public accountant to
				be true and correct in all respects and to fairly, completely, and accurately
				represent the financial condition of the subject thereof as of the respective
				date thereof; provided that in lieu of this financial statement, an audited
				financial report may be submitted if it is the most current report of the
				subject thereof and is not more than fifteen months old at the time of
				submission of the application. Any false, misleading, or fraudulent financial
				statement or report submitted by the developer shall be grounds for
				cancellation, suspension, or revocation of a registration;
(5) For each unit to be annexed, a policy of
				title insurance, preliminary title report, abstract of title, or certificate of
				title not more than sixty days old at the time of submission of the
				application; provided that the policy of title insurance, preliminary title
				report, abstract of title, or certificate of title discloses the status of
				ownership of the unit and any and all liens and encumbrances affecting the
				unit;
(6) Copies of all
				encumbrances against title to each unit to be annexed; provided that copies of
				encumbrances included with the initial application for registration of the time
				share plan or any prior subsequent filing application accepted by the
				department in connection with the plan may be incorporated by
				reference;
(7) Confirmation by the
				respective county that the time share plan meets the geographic limitation
				requirements of section
				514E-5,
				HRS; provided that this confirmation of zoning shall be obtained from the
				respective county not more than thirty days before the date of submission of
				the application. The director shall prescribe a form to be completed by the
				proper county authority evidencing this confirmation of zoning; and
(8) The registration fee.