Report Title:

Time Sharing Plans; Out-of-State Registrations

Description:

Authorizes the filing of another jurisdiction's disclosure statement and vacation ownership plan if the jurisdiction's requirements are substantially similar to or more restrictive than Hawaii's registration requirements.

THE SENATE

S.B. NO.

179

TWENTY-FIRST LEGISLATURE, 2001

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

relating to time sharing plans.

 

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

SECTION 1. Section 514E-13, Hawaii Revised Statutes, is amended to read as follows:

"[[]§514E-13[]] Authority of director. (a) 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.

(b) The director may accept for registration a disclosure statement and vacation ownership plan from another jurisdiction; provided that the registration and disclosure requirements of the other jurisdiction are substantially similar to or more restrictive than the requirements of this chapter.

(c) The director shall submit an annual report to the legislature."

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 Statutory material to be repealed is bracketed and stricken.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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