PART III. 
REGISTRATION AND ADMINISTRATION



 



§514A-31  Notification of intention. 
(a)  Prior to the time when apartments in a condominium project are to be
offered for sale in this State, the developer shall register the project with
the commission by notifying the commission in writing of the developer's
intention to sell such apartments.  No offer of sale or sale shall be made
until the project has been registered with the commission and the commission
has issued an effective date for the project's preliminary, contingent final,
or final public report.



(b)  Prior to the time when a developer offers
or proposes to offer for sale a time share plan located in a condominium
project where apartments are being offered or proposed to be offered for sale
for the first time to the public, the developer shall register the project with
the commission and obtain an effective date for the developer's public report;
provided that the developer shall not be required to deliver to a prospective
purchaser or purchaser a true copy of the developer's public report or
disclosure abstract, as required by this chapter, when a time share plan is
duly registered under chapter 514E if, with regard to that time share project:



(1)  A copy of the disclosure statement required by
chapter 514E is required to be delivered to the purchaser or prospective
purchaser; or



(2)  Pursuant to section 514E-30, a copy of the
disclosure statement required by chapter 514E is not required to be delivered
to the purchaser or prospective purchaser because the offer and sale of the
time share interest is made outside of Hawaii. [L 1977, c 98, pt of §2; gen ch
1985; am L 1991, c 44, §2; am L 1997, c 135, §4; am L 2001, c 237, §1; am L
2002, c 204, §2]