Hawaii Revised Statutes 517E-3 – Standard of conduct in managing and investing an institutional fund
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Terms Used In Hawaii Revised Statutes 517E-3
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Donor: The person who makes a gift.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Gift instrument: means a record or records, including an institutional solicitation, under which property is granted to, transferred to, or held by an institution as an institutional fund. See Hawaii Revised Statutes 517E-2
- Institution: means :
(1) A person, other than an individual, organized and operated exclusively for charitable purposes;
(2) A government or governmental subdivision, agency, or instrumentality, to the extent that it holds funds exclusively for a charitable purpose; or
(3) A trust that had both charitable and noncharitable interests, after all noncharitable interests have terminated. See Hawaii Revised Statutes 517E-2
- Institutional fund: means a fund held by an institution exclusively for charitable purposes. See Hawaii Revised Statutes 517E-2
- Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Hawaii Revised Statutes 517E-2