(a) An initial report filed under this part for property that was not required to be reported before July 1, 2009 but which is subject to this part shall include all items of property that would have been presumed abandoned during the ten-year period next preceding July 1, 2009 as if this part had been in effect during that period.

Terms Used In Hawaii Revised Statutes 523A-28

  • 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
(b) This part does not relieve a holder of a duty that arose before July 1, 2009 to report, pay, or deliver property. Except as otherwise provided in section 523A-19(b), a holder who did not comply with the law in effect before July 1, 2009 shall be subject to the applicable provisions for enforcement and penalties which then existed, which are continued in effect for the purpose of this section.

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