Provides that the offer and sale of times share units that are part of a time share plan previously registered in Hawaii are not subject to state time share law when offered and sold outside of the United States. Makes an offer and sale in the United States, excluding Hawaii, of time share interest in time share plan that includes units in Hawaii subject to state time share law.

A BILL FOR AN ACT

SECTION 1. Section 514E-30, Hawaii Revised Statutes, is amended to read as follows:

"§514E-30 Scope of chapter. This chapter applies to the offer and sale in Hawaii of time share interests in time share units located in Hawaii. If time share units are located outside of Hawaii, but any offer or sale is made within the State, this chapter, except for sections 514E-3, 514E-4, 514E-5, 514E-6, 514E-7, and 514E-14, shall apply. As to the offer and sale in the United States, but outside of Hawaii of time share interest in a time share plan [which] that includes time share units located in Hawaii, this chapter, except for sections 514E-2.5, 514E-8, 514E-9, 514E-10(b) and (c), 514E-11, and 514E-11.1 shall apply[.]; provided that if the time share units that are part of a time share plan that is offered and sold outside of the United States include time share units that are a part of a time share plan that was previously registered in Hawaii, that offer and sale shall not be subject to this chapter."

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect upon its approval.