Haw. Code R. § 15-127-20 - Terms, and restrictions

General investment limits and restrictions upon the corporation include the following:

(1) The provision for a return on investment to the extent possible.

(2) Investments by the corporation in private investment funds require that investments in Hawaii businesses by such funds shall equal at least the amount of the corporation's investment.

(3) The corporation shall not make direct investments in individual businesses except upon a two-thirds vote of the board in each case considered.

(4) The corporation shall not acquire a beneficial interest in an enterprise that would provide voting control.

(5) The corporation shall not invest more than $5,000,000 in any one enterprise.

(6) Direct investments of the corporation shall not exceed five per cent of the assets of the corporation, provided that by a two-thirds vote of the board the amount may be increased to a level not to exceed twenty-five per cent.

(7) Investments may be used for any purpose consistent with the purposes and objectives of this chapter and on such terms and conditions as the corporation shall determine to be reasonable, appropriate, and consistent with the purposes and objectives of this chapter.

Notes

Haw. Code R. § 15-127-20

[Eff JUL 20 1991] (Auth: HRS § 211F-2) (Imp: HRS § 211F-2)