(a) There is established in the state treasury the unclaimed property trust fund, which shall be administered by the administrator. All moneys collected by the unclaimed property program from holders of property presumed abandoned and all proceeds from the sale of unclaimed property, less costs in connection with the sale of the abandoned property, shall be deposited into the unclaimed property trust fund.
Owner: means a person who has a legal or equitable interest in property subject to this part or the person's legal representative. 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
(b) Moneys in the unclaimed property trust fund shall be used for the payment of the following:
(1) Claims for the return of abandoned property to their rightful owners;(2) Payment to other states’ unclaimed property programs for owners whose last known address was in that other state;(3) Any costs incurred in connection with the sale of abandoned property;(4) Costs of mailing and publication in connection with any abandoned property;(5) Reasonable service charges;(6) Costs incurred in examining the records of holders of property and in collecting such property from those holders; and(7) Any other charges, costs, or expenses incurred in the operation, administration, and enforcement of this part.(c) Except as provided in section owner‘s account” class=”unlinked-ref” datatype=”S” sessionyear=”2023″ statecd=”HI”>523A-12, moneys in the unclaimed property trust fund shall be invested by the administrator, and all investment earnings shall be deposited to the credit of the general fund.(d) All unencumbered and unexpended moneys in excess of $3,000,000 remaining on balance in the unclaimed property trust fund on June 30 of each year shall lapse to the credit of the state general fund.
