Haw. Code R. § 16-99-149 - Client's trust funds, accounting, and records
(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."
(b)
The condominium hotel operator shall not commingle the client's trust funds
with funds of other activities such as the association of apartment owners,
lease rent, condominium managing agent, or the condominium hotel operator's own
funds.
(c) The records of the
client's trust funds shall not be commingled with the records of other
activities such as association of apartment owners, condominium managing
agents, or the condominium hotel operator's own funds. Upon demand, the records
of the client's trust funds shall be subject to inspection by the commission or
its representative.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.