Report Title:

Real Estate Licensing; Exception for Time Share Referral

 

Description:

Exempts time share owners who receive a fee for referring prospective time share purchasers from the licensing requirement for real estate brokers and salespersons.

THE SENATE

S.B. NO.

177

TWENTY-FIRST LEGISLATURE, 2001

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

relating to real estate brokers and salespersons.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. Section 467-2, Hawaii Revised Statutes, is amended to read as follows:

"§467-2 Exceptions. The provisions requiring licensing as a real estate broker or salesperson shall not apply:

(1) To any individual who, as owner of any real estate or acting under power of attorney from the owner, performs any of the acts enumerated in the definitions of real estate broker and real estate salesperson with reference to such real estate; provided that the term "owner" as used in this paragraph shall not include any individual engaged in the business of real estate development or brokerage or include an individual who acquires any interest in any real estate for the purpose or as a means of evading the licensing requirements of this chapter; and provided further that the term individual "acting under power of attorney" as used in this paragraph shall not include any individual engaged in the business of real estate development or brokerage or any individual who acts under a power of attorney for the purpose or as a means of evading the licensing requirements of this chapter;

(2) To any person acting as a receiver, trustee in bankruptcy, personal representative, or trustee acting under any trust agreement, deed of trust, or will, or otherwise acting under any order of authorization of any court;

(3) To any individual who leases, offers to lease, rents, or offers to rent, any real estate or the improvements thereon of which the individual is the custodian or caretaker;

(4) To any person who manages, rents, or operates a hotel; [or]

(5) To any provider agency owning, leasing, operating, or managing a homeless facility, or any other program for the homeless authorized under part IV of chapter 201G[.]; or

(6) To any person who receives a fee for providing the name and address of a prospective purchaser to the developer of or sales agent or resales agent for a time share plan that is duly registered under chapter 514E and in which the person owns a time share interest; provided that any fee paid to the person for the referral shall not exceed $1,000 in any twelve-month period. For purposes of this paragraph, "fee" means cash, credit, or nonmonetary compensation. Nothing in this paragraph shall permit a person who is not licensed pursuant to this chapter to advertise or promote the person's services in procuring or assisting to procure prospective time share interest purchasers."

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect upon its approval.

INTRODUCED BY:

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