HAR §16-99-149. Client's trust funds, accounting, and records

(a) Condominium hotel operators, including condominium hotel operators who are precluded from holding a license as a real estate broker or real estate salesperson pursuant to 467- 30(g)(2), HRS shall comply with section 16-99-4. For purposes of compliance, when the condominium hotel operator is not a real estate broker, references to broker or principal broker in section 16-99-4 shall also mean "condominium hotel operator." (b) The condominium hotel operator shall not commingle the client's trust funds with funds of other activities such as the association of apartment owners, lease rent, condominium managing agent, or the condominium hotel operator's own funds. (c) The records of the client's trust funds shall not be commingled with the records of other activities such as association of apartment owners, condominium managing agents, or the condominium hotel operator's own funds. Upon demand, the records of the client's trust funds shall be subject to inspection by the commission or its representative. [Eff and comp 2/25/91; am and comp 5/21/01; am and comp 12/19/16] (Auth: HRS §§467-4, 467-30) (Imp: HRS §467-30)