Exempts out-of-state sales of time share plans previously registered in Hawaii from time share law if sold outside of the United States.

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 part of a time share plan that was previously registered in Hawaii, this chapter shall not apply."

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 Statutory material to be repealed is bracketed and stricken.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.