§454-4  Suspension, revocation.  (a) 
The commissioner may suspend a license for any of the following acts or conduct
of a licensee:



(1)  Making a false promise tending to influence,
persuade, or induce, or pursuing a course of misrepresentation or false promises
through agents, solicitors, advertising, or otherwise;



(2)  Misrepresentation or concealment of any material
fact with respect to any transaction resulting in injury to any party;



(3)  Failure to disburse funds in accordance with an
agreement;



(4)  Failure to account or deliver to any person any
personal property such as money, fund, deposit, check, draft, mortgage, or
other document or thing of value which has come into the person's hands and
which is not the person's property or which the person is not in law or equity
entitled to retain, and at the time which has been agreed upon, or is required
by law, or, in the absence of a fixed time, upon demand of the person entitled
to the accounting or delivery;



(5)  Failure to place, within a reasonable time upon
receipt, any money, fund, deposit, check, or draft, entrusted to the licensee
by any person dealing with the licensee as a broker, in escrow pursuant to a
written agreement, or to deposit the funds in a trust or escrow bank account
maintained by the licensee with a bank located and doing business in the State,
wherein the funds shall be kept until disbursement thereof is authorized; or



(6)  Failure to comply with this chapter or any order
or rule made under the authority of this chapter.



(b)  The commissioner may revoke a license if
the application for the license contains a material misstatement, the licensee
demonstrates by a course of conduct negligence or incompetence in performing
any act for which the licensee is required to be licensed under this chapter,
or the licensee for a second time is responsible for misconduct which warrants
suspension under subsection (a).



(c)  For a licensee other than an individual,
it shall be sufficient cause for the suspension or revocation of the license
that any officer, director, or member of the licensed corporation, partnership,
association, or other organization has so acted as would be cause for
suspension or revocation of a license to the party as an individual.



(d)  Orders for suspension or revocation shall
be made only pursuant to chapter 91. [L 1967, c 228, §5; HRS §454-4; am L 1983,
c 39, §5; am L 2001, c 4, §2]