Haw. Code R. § 15-307-151 - Legal action on behalf of corporation
(a) If the
corporation expends moneys to repurchase or repair and rent a dwelling unit
pursuant section
201H-51,
HRS, then the corporation, upon approval by the board, shall have the authority
to take legal action against the developer, codeveloper, general contractor,
and their subcontractors, consultants and other parties involved with the
development, construction, or sale of the dwelling unit or with the substantial
construction defect in order to recover the moneys expended.
(b) The corporation, upon approval by the
board, shall have the authority to retain attorneys and expert witnesses and
incur the expenses reasonably necessary for the legal action to recover the
moneys expended.
(c) The
corporation shall not be barred from bringing a legal action under this section
notwithstanding any period of limitations set forth in chapter
657, HRS.
Notes
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