§484-13  Revocation.  (a)  A
registration may be revoked by the director after notice and hearing upon a
written finding of fact that the subdivider has:



(1)  Failed to comply with the terms of a cease and
desist order;



(2)  Been convicted in any court subsequent to the
filing of the application for registration for a crime involving fraud,
deception, false pretenses, misrepresentation, false advertising, or dishonest
dealing in real estate transactions;



(3)  Disposed of, concealed, or diverted any funds or
assets of any person so as to defeat the rights of subdivision purchasers;



(4)  Failed faithfully to perform any stipulation or
agreement made with the director as an inducement to grant any registration, to
reinstate any registration, or to approve any promotional plan or public
offering statement;



(5)  Made intentional misrepresentations or concealed
material facts in an application for registration or in the public offering
statement.



Findings of fact, if set forth in statutory
language, shall be accompanied by a concise and explicit statement of the
underlying facts supporting the findings.



(b)  If the director finds after notice and
hearing that the subdivider has been guilty of a violation for which revocation
could be ordered, the director may issue a cease and desist order instead. [L
1967, c 223, §13; HRS §484-13; am L 1983, c 175, §10; am L 1992, c 132, §15]