Section 16-106-40.1 - Acquisition agent's bond(a) An acquisition agent not licensed pursuant to chapter 467, HRS, shall at all times be bonded in the amount of $25,000 by a surety company authorized to do business in the State or file a cash bond in an equivalent amount with the director to cover any violation by the acquisition agent and any of its employees, agents, or independent contractors of any solicitation ordinances or other regulations governing the use of the premise or premises in which a time share plan is promoted.(b) An acquisition agent shall provide evidence that a bond which satisfies the requirements of subsection (a) has been secured for each time share plan with which the acquisition agent is affiliated.Haw. Code R. § 16-106-40.1
[Eff and comp 9/1/85; am and comp 11/29/85; comp 6/5/87; comp 3/7/88; comp 9/15/90] (Auth: HRS §§ 514E-10, 514E-13, 106-32(c)) (Imp: HRS § 514E-10)