Haw. Code R. § 15-305-34 - Submission of cost expenditures by fee owners

(a) Subsequent to the designation, the fee owner, lessor and the legal and equitable owners of the lots condemned by the corporation, shall maintain and submit to the corporation a quarterly report on the costs incurred or expended. This quarterly report shall be submitted within thirty calendar days following the end of each quarter involved, and shall be used for the purpose of determining pro rata costs of each lot in the event it is withdrawn from the condemnation action.

(b) The initial quarterly report shall consist of costs incurred or expended during the month of designation, as well as during the three calendar months following. Thereafter, three calendar months shall constitute a quarter.

(c) Such reports shall also be updated from time to time upon the dismissal of a lot and lessees from the condemnation action. The update to the date of dismissal shall be submitted to the corporation within thirty calendar days after notification of the dismissal.

(d) Failure to submit the expenditure report as prescribed will be grounds for disallowing the same unless the delay is consented to by the corporation for good cause shown.

(e) Costs expenditure submitted shall be subject to review and approval of the corporation or the courts in case of disagreement.

Notes

Haw. Code R. § 15-305-34

[Eff JUN 15 2007] (Auth: HRS § 516-7) (Imp: HRS §§ 516-6, 516-7, 516-30)