Report Title:

Condominium Hotels; Operator; Managing Agent

Description:

Prohibits the managing agent of a condominium from engaging in the business of a condominium hotel operator for any property managed by the agent.

HOUSE OF REPRESENTATIVES	H.B. NO.	113
TWENTY-FIFTH LEGISLATURE, 2009
STATE OF HAWAII

A BILL FOR AN ACT

relating to condominium hotels.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

     SECTION 1.  Section 514B-132, Hawaii Revised Statutes, is amended by amending subsection (c) to read as follows:

     "(c)  Every managing agent shall be considered a fiduciary with respect to any property managed by that managing agent.  No managing agent may engage in the business of a condominium hotel operator, as the term is used in section 467-30, with respect to any property managed by the managing agent."

     SECTION 2.  New statutory material is underscored.

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

INTRODUCED BY:

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