Section 16-106-47 - Deceptive trade practices It shall constitute an unfair or deceptive trade practice within the meaning of chapter 480, HRS, and shall be a violation of chapter 514E, HRS, for any developer, acquisition agent, or sales agent to:
(1) Engage in the prohibited practices set forth in section 16-106-46(a), paragraphs (2), (3), and (4);(2) Fail to inform each purchaser orally and in writing, at the time the purchaser signs the contract to purchase an interest or interests in a time share unit or plan, of the purchaser's seven-day right to cancel or void the contract;(3) Misrepresent in any manner the purchaser's right to cancel or void any contract to purchase a time share interest in a time share unit or plan;(4) Fail or refuse to honor any valid notice of cancellation of the contract by the purchaser and fail or refuse to refund all payments made under the contract or sale within fifteen business days after receipt of the cancellation notice; or fail or refuse to cancel and return any negotiable instrument executed by the buyer in connection with the contract or sale and take any appropriate action to terminate promptly any mortgage, lien, or other security interest created in connection with the transaction;(5) Fail to include on promotional literature and other printed or written material the caption required by section 514E-11.1(7), HRS, and section 16-106-39(a); and(6) Fail to orally disclose during the initial oral contact with a prospective purchaser that any promised promotional device is being offered for the purpose of soliciting sales of time share interests in time share units or a time share plan.[Eff and comp 3/28/85; am and comp 8/30/85; am and comp 11/29/85; comp 6/5/87; am and comp 3/7/88; comp 9/15/90] (Auth: HRS § 514E-13) (Imp: HRS § 514E-11.1)