STAND. COM. REP. NO. 179-14
Honolulu, Hawaii
, 2014
RE: H.B. No. 2018
H.D. 1
Honorable Joseph M. Souki
Speaker, House of Representatives
Twenty-Seventh State Legislature
Regular Session of 2014
State of Hawaii
Sir:
Your Committee on Consumer Protection & Commerce, to which was referred H.B. No. 2018 entitled:
"A BILL FOR AN ACT RELATING TO TIME SHARES,"
begs leave to report as follows:
The purpose of this measure is to modernize Hawaii's Time Share Law by:
(1) Eliminating the requirement that a manager of a foreign time share plan register in Hawaii as a time share plan manager;
(2) Requiring the disclosure statement for an offering of a time share plan to disclose that the manager of a foreign time share plan is not registered in Hawaii;
(3) Recognizing that an association of time share owners may be any kind of nonprofit or not-for-profit entity; and
(4) Making housekeeping amendments.
Your Committee has amended this measure by amending the disclosure statement for time share units located outside the State to clarify that a plan manager is only exempt from registering under Hawaii's Time Share Law.
As affirmed by the record of votes of the members of your Committee on Consumer Protection & Commerce that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2018, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2018, H.D. 1, and be referred to the Committee on Finance.
Respectfully submitted on behalf of the members of the Committee on Consumer Protection & Commerce,
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____________________________ ANGUS L.K. McKELVEY, Chair |
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