Bill Text: HI HB1524 | 2017 | Regular Session | Amended
Bill Title: Relating To Real Estate.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Introduced - Dead) 2017-02-17 - Passed Second Reading as amended in HD 1 and referred to the committee(s) on CPC with none voting aye with reservations; none voting no (0) and Representative(s) DeCoite, Tokioka excused (2). [HB1524 Detail]
Download: Hawaii-2017-HB1524-Amended.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1524 |
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TWENTY-NINTH LEGISLATURE, 2017 |
H.D. 1 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO REAL ESTATE.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds that some owners in condominiums and time share projects have experienced difficulties receiving association-related documents in a timely manner.
The purpose of this Act is to specify that the principal broker in a brokerage firm is responsible for ensuring that:
(1) Associated real estate licensees who are responsible for providing property management services to community associations are responsive to requests from owners regarding association-related finances, documents, records, and information; and
(2) Any request from the real estate commission to distribute commission-generated information, materials, or documents to an association, a board of directors, or a unit owner in a common interest community is completed within ten days after receiving the request.
SECTION 2. Section 467-1.6, Hawaii Revised Statutes, is amended by amending subsection (b) to read as follows:
"(b) The principal broker shall be responsible for:
(1) The client trust accounts, disbursements from those accounts, and the brokerage firm's accounting practices;
(2) The brokerage firm's records, contracts, and documents;
(3) All real estate contracts of the brokerage firm and its handling by the associated real estate salesperson;
(4) The proper handling of any commission application, real estate license application, or renewal application that the principal broker or the brokerage firm expressly agrees to handle on behalf of the applicant, including without limitation, verifying for completeness and appropriate fees, and mailing or delivering the appropriate documents to the commission by the required deadline;
(5) Developing policies and procedures for the brokerage firm concerning the handling of real estate transactions and the conduct of the associated real estate licensees and other staff, including education and enforcement of the policies and procedures;
(6) Setting a policy on continuing education requirements for all associated real estate licensees in compliance with the statutory requirement;
(7) Ensuring that the licenses of all associated real estate licensees and the brokerage firm license are current and active;
(8) Establishing and maintaining a training program
for all associated real estate licensees; [and]
(9) Ensuring that all associated real estate
licensees are provided information and training on the latest amendments to
real estate licensing laws and rules as well as other related laws and rules[.];
(10) Ensuring that all associated real estate licensees who are responsible for providing property management services to community associations, including but not limited to cooperative housing corporations under chapter 421I, planned community associations under chapter 421J, and time sharing plans under chapter 514E, are responsive to requests for finances, documents, records, and information, whether maintained, kept, or required to be provided pursuant to chapter 421I, 421J, or 514E; and
(11) Ensuring that any request from the commission to distribute any commission-generated information, printed material, or documents to an association, the board of directors of an association, or unit owners, shall be completed within ten days of receiving the request."
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act shall take effect on July 1, 2099.
Report Title:
Real Estate Licensees; Common Interest Communities; Principal Brokers; Documents, Records, and Information; Real Estate Commission
Description:
Requires principal brokers to ensure associated real estate licensees are responsive to association-related requests from owners and Real Estate Commission-generated information is distributed to an association, board, or unit owner within ten days after receiving a request for information. (HB1524 HD1)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
