§468L-25 Maintenance of qualified charter tour client trust assets by charter tour operators. A charter tour operator shall regularly maintain qualified charter tour client trust assets in an amount which is equal to or exceeds the qualified charter tour client trust liabilities of the charter tour operator. A charter tour operator shall be deemed to be in substantial compliance with the provisions of this section even if, during any twelve-month period, qualified charter tour client trust liabilities exceed qualified charter tour client trust assets for any one, but not more than one, quarterly reporting period applicable under section 468L-26; provided that qualified charter tour client trust assets at all times shall be equal to or exceed not less than ninety per cent of qualified charter tour client trust liabilities. [L 1999, c 258, pt of §3]
Structure Hawaii Revised Statutes
Title 25. Professions and Occupations
468L-2 Registration and renewal.
468L-2.5 Denial of registration.
468L-3 Powers and duties of the director.
468L-4 Statement required to be furnished to consumer.
468L-5 Client trust accounts; maintenance of and withdrawal from such accounts.
468L-5.5 Recordkeeping requirements for client trust accounts.
468L-5.6 Violations; summary suspension; penalties.
468L-6 Disclosure on airline awards.
468L-10 Consumer right of action.
468L-21 Charter tour operator registration as travel agency required.
468L-22 Charter tour operator financial performance requirements.
468L-23 Charter tour client trust account.
468L-24 Maintenance of charter tour operator accounts.
468L-25 Maintenance of qualified charter tour client trust assets by charter tour operators.
468L-26 Quarterly report filing requirements for charter tour operators.