§16-99-149 Client’s trust funds, accounting, and records

§16-99-149

Client’s trust funds, accounting, and records

§16-99-149(a) The proposed amendment clarifies that condominium hotel operators are precluded from holding a license pursuant with § 467-30(g)(2) shall comply with section 16-99-4, which addresses handling of funds or property of others entrusted to the condominium hotel operator.

New Rule

Old Rule
(a) Condominium hotel operators, including condominium hotel operators who are precluded from holding a license as a real estate broker or real estate salesperson pursuant to 467- 30(g)(2), HRS shall comply with section 16-99-4. For purposes of compliance, when the condominium hotel operator is not a real estate broker, references to broker or principal broker in section 16-99-4 shall also mean “condominium hotel operator.”
(a) Condominium hotel operators, including condominium hotel operators who are excluded or exempt from obtaining a real estate broker’s license pursuant to section 467-30(f), HRS, shall comply with section 16-99-4. For purposes of compliance, when the condominium hotel operator is not a real estate broker, references to broker or principal broker in section 16-99-4 shall also mean “condominium hotel operator.”