Haw. Code R. § 16-75-40 - Withdrawals from the trust account; principal

(a) The trustee of the pre-need trust account shall permit withdrawal of principal only under the following circumstances and conditions:

(1) If the licensee files a certified statement with the trustee that the pre-need merchandise and services covered by a pre-need contract have been furnished and delivered in accordance therewith; or

(2) If the licensee files a verified statement that a specified pre-need contract has been cancelled in accordance with its terms.

(b) The trustee of the perpetual care trust account shall not permit nor withdraw money from the principal and shall keep the principal forever irreducible and inviolable.

Notes

Haw. Code R. § 16-75-40

[Eff 11/19/87; comp 1/21/92] (Auth: HRS § 441-19) (Imp: HRS §§ 441-39, 441-40)