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Current as of January 01, 2022 | Updated by FindLaw Staff
If time share units are conveyed to a trustee pursuant to section 514E-19, the following requirements shall be met:
(1) The trustee must be a bank, savings and loan association, or a trust company meeting the requirements of any rules adopted by the director pursuant to chapter 91.
(2) The trustee must at all times:
(A) Maintain fidelity bonds in a form approved by the director in such amounts and providing coverage as required by rules adopted by the director pursuant to chapter 91; and
(B) Maintain a policy of errors and omissions insurance in a form approved by the director in such amounts and providing coverage as required by rules adopted by the director pursuant to chapter 91.
Cite this article: FindLaw.com - Hawaii Revised Statutes Division 3. Property; Family § 514E-23 - last updated January 01, 2022 | https://codes.findlaw.com/hi/division-3-property-family/hi-rev-st-sect-514e-23/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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