Hawaii Revised Statutes 523A-18 – Destruction or disposition of property having no substantial commercial value; immunity from liability
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Terms Used In Hawaii Revised Statutes 523A-18
- Administrator: means the director of finance. See Hawaii Revised Statutes 523A-2
- Holder: means a person obligated to hold for the account of, or deliver or pay to, the owner of property that is subject to this part. See Hawaii Revised Statutes 523A-2
- Property: means tangible property described in § 523A-4 or a fixed and certain interest in intangible property that is held, issued, or owed in the course of a holder's business, or by a government, governmental subdivision, agency, or instrumentality, and all income or increments therefrom. See Hawaii Revised Statutes 523A-2
- State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or insular possession subject to the jurisdiction of the United States. See Hawaii Revised Statutes 523A-2
If the administrator determines after investigation that property delivered under this part has no substantial commercial value, the administrator may destroy or otherwise dispose of the property at any time. An action or proceeding shall not be maintained against the State or any officer or against the holder for or on account of an act of the administrator under this section, except for intentional misconduct or malfeasance.