§516-40 Bonds as legal investments. The State and all of its public officers, municipal corporations, political subdivisions, and public bodies, all banks, bankers, trust companies, savings banks and institutions, including savings and loan associations, all investment companies, insurance companies, insurance associations, and other persons carrying on an insurance business in the State, and all personal representatives, guardians, trustees, and other fiduciaries in the State may legally invest moneys or funds belonging to them or within their control and available for investment under other provisions of law, in any bonds or other obligations issued by the Hawaii housing finance and development corporation under this part, and such bonds and other obligations of the corporation shall be authorized security for all public deposits and shall be fully negotiable in the State. It is the purpose of this section to authorize any of the foregoing to use any funds owned or controlled by them, including (but not limited to) sinking, insurance, investments, retirement, compensation, pension, and trust funds and funds held on deposit, for the purchase of any such bonds or other obligations; provided that nothing contained in this section shall operate to relieve any person, firm, or corporation from liability for failure to exercise reasonable care in selecting investments or, in the case of a guardian or trustee, from liability for failure to exercise the judgment and care to observe the duties required of a guardian or trustee by article 8 of chapter 412 and section 554-6. [L 1967, c 307, §29; HRS §516-40; am L 1976, c 200, pt of §1; am L 1987, c 337, §16; am L 1988, c 104, §2; am L 1993, c 350, §32; am L 1997, c 350, §14; am L 2005, c 196, §26(b); am L 2006, c 180, §16]
Structure Hawaii Revised Statutes
516-6 Administration of chapter.
516-7 Corporation's duties, generally.
516-8 Interested members, officers, or employees.
516-22 Designation of leased fee interest in all or part of development tract for acquisition.
516-23 Exercise of power of eminent domain.
516-26 Interest in compensation paid by the corporation.
516-27 Compulsory or involuntary conversion.
516-28 Disposition, generally.
516-30 Purchase of leased fee interest.
516-33 Qualification for purchase.
516-34 Mortgages, agreements of sale, other instruments.
516-35 Restrictions on sale and use of residential lots.
516-35.1 Foreclosure and sale by mortgagees.
516-40 Bonds as legal investments.
516-41 Exemption from taxation and assessments.
516-42 Investment of reserves.
516-43 Security for funds deposited.
516-45 General obligation bonds.
516-51 Preliminary negotiation required.
516-68 Rights to self-organization; remedies.
516-70 Reversion of improvements.
516-71 Residential lease; disclosure.
516-73 Suggested form of standardized summary of lease provisions.
516-83 Legislative findings and declaration of necessity; purpose.
516-101 Revenue bonds; authorization.
516-102 Revenue bonds; payment and security.
516-103 Revenue bonds; interest rate, price, and sale.
516-104 Revenue bonds; investment of proceeds and redemption.
516-107 Trustee; designation, duties.
516-111 Revenue bonds; special funds.
516-121 Acquisition loan programs; procedures and requirements.
516-122 Acquisition loan programs; general powers.
516-123 Acquisition loan programs; self supporting.
516-124 Acquisition loan programs; fees.
516-125 Acquisition loan programs; evidence of eligible loan.
516-131 Loans to lenders program.
516-132 Loan to lenders program; collateral security.
516-141 Purchase of existing loans program.
516-151 Advance commitments program.
516-161 Eligible loan funding program.
516-171 Loans; service and custody.
516-172 Loans; sale, pledge, or assignment.
516-173 Loans; insurance and guarantees.
516-182 Restrictions on sale and use of residential lots acquired from proceeds of eligible loan.