Report Title:

Time Sharing Plans; "Acquisition Agent"

 

Description:

Amends definition of acquisition agent in the time share law to not include individuals who are employed by or who are in contract with a real estate broker.

 

THE SENATE

S.B. NO.

173

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-1, Hawaii Revised Statutes, is amended by amending the definition of "acquisition agent" to read:

""Acquisition agent" means any person, other than a developer or sales agent, who, for compensation, solicits or encourages others to attend a time share sales presentation or to contact a time share sales agent or developer[.]; provided that this term shall not include individuals who are employed by or who are in contract with a real estate broker pursuant to chapter 467 and who perform the stated functions."

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 Statutory material to be repealed is bracketed and stricken.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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