HRS §449-3
Who is exempt from escrow rules
This section lists who does not have to follow the escrow rules in this chapter. It covers banks, trust companies, savings and loan associations, real estate brokers, and lawyers, but only when they act as escrow depositories and meet certain conditions.
attorneysreal estate agents
The statute, as written — Excepted from this chapter
This chapter does not apply to any of the following when acting as escrow depositories: (1) Banks, trust companies, and savings and loan associations, authorized under any law of this State or of the United States to do business in the State; (2) Any person licensed as a real estate broker in the State who is the broker for a party to the escrow, provided the person does not charge any escrow fee; and (3) Any person licensed to practice law in the State who, in escrow, is not acting as the employee of a corporation, provided the person does not charge any escrow fee.
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