Provides that chapter 514E, relating to time shares, does not apply to a sale outside the United States of an interest in a time share unit in Hawaii if the unit is part of a time share plan that was previously registered in Hawaii.

A BILL FOR AN ACT

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

"§514E-30 Scope of c120h.

apter. 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 512E-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 interests in a time share plan which 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, however, that if the time share units that are part of a time share plan that is offered and sold outside of the United States includes time share units that are part of a time share plan that was previously registered in Hawaii, then 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 Statutory material to be repealed is bracketed and stricken.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.