Hawaii Revised Statutes 517E-5 – Delegation of management and investment functions
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Terms Used In Hawaii Revised Statutes 517E-5
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- 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
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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