Haw. Code R. § 16-75-7 - Trustee
(a) The bank designated by the licensee as
trustee of the trust fund shall be a federally insured bank regulated by
federal or state authorities. Where the bank designated as trustee is not
located in this State, the licensee shall disclose in all written contracts the
name of the bank, the state it is located in, and its status with regard to
state and federal insurance.
(b)
The trust company designated by the licensee as trustee of the trust fund shall
be a state chartered trust company.
(c) The board designated by the licensee as
trustee of the trust fund shall be comprised of members, a majority of whom are
residents of the State.
Notes
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