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Code · Hawaii · Hawaii Revised Statutes

[§454F-43] Management of fund.

113 words·~1 min read·/hi/454f-43

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[§454F-43] Management of fund.
(a)The sums received by the division pursuant to section 454F-41 for deposit into the mortgage loan recovery fund shall be held by the commissioner or the commissioner's designee to carry out the purpose of the mortgage loan recovery fund. These funds may be invested and reinvested in the same manner as funds of the state employees' retirement system.
(b)The commissioner or the commissioner's designee, as the manager of the mortgage loan recovery fund, shall be authorized to expend moneys from the fund to retain private legal counsel to represent the commissioner in any action involving the mortgage loan recovery fund. [L 2010, c 84, pt of §3]
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