Haw. Code R. § 16-99-65 - Renewals
(a) Applications for renewal of a school's
registration shall be submitted by the commission prescribed deadline of every
even-numbered year.
(b) The
following shall accompany an application:
(1)
A renewal fee;
(2) A statement as
to the enrollment and advance deposit charged per student for each of the
school's broker and salesperson courses offered during the preceding
registration period;
(3) The dates
and locations of course of study to be offered if the registration is renewed;
and
(4) A surety bond to the
commission conditioned for the protection of the contractual rights of real
estate students in an amount equal to the sum of:
(A) The largest number of students enrolled
in the school's broker course at any one time during the preceding registration
period multiplied by the advance deposit charged per student for the broker
course; and
(B) The largest number
of students enrolled in the school's salesperson course at any one time during
the preceding registration period multiplied by the advance deposit charged per
student for the salesperson course.
In no event shall the amount of the bond be less than $2,000. The bond shall be issued by a surety authorized to do business in the State.
(c) A registration shall be renewed if the
school meets all of the then existing applicable requirements of the commission
including but not limited to a reasonable student exam passing percentage,
demonstrated evidence that the school curriculum objectives have been taught,
certificates of completion issued within the past year, for each instructor,
who completed successfully a commission sponsored or approved prelicense
instructor's workshop, and an update of the information required for its
original application for registration.
(d) An accredited college or university shall
not be required to submit to the commission a surety bond or pay the renewal
fee as required by this section.
Notes
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