Section 16-106-5 - Responsible managing employee; designation, duties, and change(a) No application of a corporate developer, corporate acquisition agent, corporate sales agent, corporate plan manager, or corporate exchange agent shall be accepted unless the corporation has designated a responsible managing employee (RME) and prescribed the RME's duties, responsibilities, and obligations with respect to the corporation's time share operation.(b) The RME shall be responsible for the direct management of the corporation's affairs with respect to the corporation's time share operation. The RME shall not be deemed to have the direct management of the corporation's time share operation unless the RME: (1) Is a bona fide employee of the corporation and has direct control, supervision, and management of the corporation's time share operation;(2) Has full knowledge and control of the corporation's accounting practices;(3) Has full knowledge and control over the moneys belonging to and in the custody of the corporation in connection with the time share operation; and(4) Has full access to all books, records, and documents materially relative to the corporation's part in the time share operation, whether these materials are kept in the State or out-of-state.(c) The name, address, and telephone number of the RME shall be provided to the director.(d) A plan manager may designate one or more RMEs.(e) When there is a change in RME, the name of the new RME shall be reported to the director in writing within twenty days of the change.(f) Where a developer or plan manager of two or more time share plans, at least one of which plans includes time share units located in this State, maintains its principal office or has primary management and accounting functions out-of-state, the duties of the RME specified in subsection (b) may be divided between two or more RMEs of the developer or plan manager, with no one RME being vested with all of these duties; provided that at least one RME is located within the State; and provided further that the RME located within the State shall be responsible for all activities conducted in the State with respect to the corporation's time share operation.[Eff 11/15/80; am and comp 3/28/85; comp 8/30/85; comp 11/29/85; comp 6/5/87; comp 3/7/88; comp 9/15/90] (Auth: HRS § 514E-13) (Imp: HRS § 514E-10)