Section 16-106-12 - Plan manager or RME of plan manager designated for time share plan(a) All time share plans shall have a designated plan manager.(b) Each time share plan which is comprised of any unit or units located in the State shall have a plan manager or an RME of the plan manager in the State, whether or not the plan is offered for sale in the State or out-of-state.(c) A plan manager may manage one or more time share plans; provided that the plan manager applies for and is accepted for registration by the director with respect to each plan.(d) A plan manager's duties, responsibilities, and obligations shall include, but not be limited to: (1) Management and maintenance of the time share units;(2) Assessment and collection of maintenance fees;(3) Payment of real property taxes due on the time share units;(4) Supervision of occupancy scheduling so that time share unit owners or users will be provided with the promised use of time share units;(5) Providing time share owners and users with a copy of the house rules of the building;(6) Supervision of enforcement of the house rules;(7) Keeping of a detailed and accurate record, in chronological order, of receipts and expenditures;(8) Providing the time share owners with a statement of receipts and expenditures which shall include but not be limited to: (A) Management fees paid;(B) Total compensation paid to the board of directors; and(C) Amount of reserves set aside for refurbishment, or if no refurbishment account, the reasons therefor.(9) Providing that the minutes of the board of directors and association meetings, and the association's financial statements be available for examination by time share owners at convenient hours at a place designated by the association; and(10) Providing that the minutes of meetings and association financial statements be mailed to any time share owner upon such owner's request. A reasonable fee may be charged to defray any administrative or duplicating cost.(e) All accounting records of the plan manager shall be subject to inspection upon reasonable notice by the director or a representative of the director. Accounting records shall be kept at the principal office of the plan manager, which may be located in the State or in another state.(g) The plan manager shall keep an accurate and current list of the names and addresses of association members, including the names and addresses of vendors under agreements of sale, if any. If the association's by-laws or rules do not authorize the release of this list to a time share owner, the association shall develop a reasonable procedure by which time share owners may solicit votes or proxies or by which time share owners may provide information to other time share owners with respect to association matters. (f) If the accounting records are not kept in the State, the records should be made available for inspection in the State upon reasonable notice. If the records are not made available, inspection shall be made at the place where the records are kept and any and all costs, including travel expense, per diem, and salary of the inspector, shall be borne by the plan manager. The plan manager may be required by the director to remit in advance the amount of the estimated cost prior to inspection. Failure on the part of the plan manager to comply with the director's request to remit the amount of the estimated cost may be grounds for cancellation, suspension, or revocation of the plan manager's registration. Further, if the principal office of the developer is not in the State, failure to make available upon the director's request any bookkeeping records, computer records, or any other records of the developer for the time share plan within a reasonable time, may be grounds for cancellation, suspension, or revocation of the plan manager's registration.
[Eff 11/15/80; am and comp 3/28/85; comp 8/30/85; comp 11/29/85; comp 6/5/87; comp 3/7/88; am and comp 9/15/90] (Auth: HRS § 514E-13) (Imp: HRS § 514E-10)