STAND. COM. REP. NO.621

Honolulu, Hawaii

, 2001

RE: S.B. No. 175

S.D. 2

 

 

Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Commerce, Consumer Protection and Housing, to which was referred S.B. No. 175, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO TIME SHARING PLANS,"

begs leave to report as follows:

The purpose of this measure is to eliminate the requirement that time share sales and acquisition agents register with the Department of Commerce and Consumer Affairs.

Your Committee received testimony in support of this measure from the Department of Commerce and Consumer Affairs (DCCA), American Resort Development Association of Hawaii, PAHIO Resorts, Inc., and The Bay Club Ownership Resort, Inc.

Your Committee finds that time share sales agents are already licensed as real estate brokers or real estate sales persons under chapter 467, Hawaii Revised Statutes (HRS), and this measure would eliminate the current registration duplication. Your Committee has also heard DCCA's recommendation that a time share acquisition agent need not be registered with the department if currently licensed as a real estate broker under chapter 467, HRS, or if the person posts a bond equal to $25,000 to cover any violations.

Your Committee supports the elimination of these duplicative requirements and has amended the measure to clarify that only a time share acquisition agent who is licensed as a real estate broker under chapter 467, HRS, need not be registered under chapter 514E, HRS, relating to time sharing plans.

As affirmed by the record of votes of the members of your Committee on Commerce, Consumer Protection and Housing that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 175, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 175, S.D. 2.

Respectfully submitted on behalf of the members of the Committee on Commerce, Consumer Protection and Housing,

____________________________

RON MENOR, Chair