Hawaii Revised Statutes 386A-6 – Limitation of liability of directors
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Terms Used In Hawaii Revised Statutes 386A-6
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Fund: means the Hawaii state compensation mutual insurance fund. See Hawaii Revised Statutes 386A-1
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
If an investment manager has been appointed under this chapter, no director shall be liable for the acts or omissions of such investment manager or be under an obligation to invest or otherwise manage any assets of the fund, which are subject to management by the investment manager.