CONFERENCE COMMITTEE REP. NO.26
Honolulu, Hawaii
, 2001
RE: S.B. No. 1061
S.D. 1
H.D. 1
C.D. 1
Honorable Robert Bunda
President of the Senate
Twenty-First State Legislature
Regular Session of 2001
State of Hawaii
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-First State Legislature
Regular Session of 2001
State of Hawaii
Sir:
Your Committee on Conference on the disagreeing vote of the Senate to amendments proposed by the House of Representatives in S.B. No. 1061, S.D. 1, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO REAL ESTATE BROKERS,"
having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.
The purpose of this measure is to relax unduly restrictive or unnecessary requirements for real estate broker license applicants and condominium hotel operators, and to promote consistency in the administration of the fidelity bond requirement.
Currently, the law requires applicants for the real estate broker's license examination to have been employed full time in the State as a licensed real estate salesperson during the immediately preceding three-year period. This requirement unduly restricts and penalizes applicants who, due to the nature of the profession, are unable to continuously maintain full time employment for three years. Therefore, this measure allows applicants to qualify for the exam if they have accrued at least three years full time experience within the preceding five years.
Additionally, this measure exempts condominium hotel operators who are licensed real estate brokers on active status from registration and fidelity bond requirements since moneys in the real estate recovery fund are available to compensate consumers harmed by the fraudulent practices of a real estate licensee. Finally, this measure makes consistent the fidelity bond requirements applicable to condominium hotel operators and condominium managing agents.
Your Committee has amended this measure by:
(1) Deleting language in proposed section 467-30(j), Hawaii Revised Statutes, that does not apply to an exemption from registration and fidelity bond requirements for condominium hotel operators licensed as real estate brokers; and
(2) Making technical amendments to correct a statutory reference and to reflect proper Ramseyering of proposed new text.
As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of S.B. No. 1061, S.D. 1, H.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as S.B. No. 1061, S.D. 1, H.D. 1, C.D. 1.
Respectfully submitted on behalf of the managers:
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ON THE PART OF THE HOUSE |
ON THE PART OF THE SENATE |
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____________________________ KENNETH T. HIRAKI, Chair |
____________________________ RON MENOR, Chair |
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