[§572C-5]  Registration as reciprocal beneficiaries; filing fees; records.  (a)  Two persons, who meet the criteria set out in § 572C-4, may enter into a reciprocal beneficiary relationship and register their relationship as reciprocal beneficiaries by filing a signed notarized declaration of reciprocal beneficiary relationship with the director.  For the filing of the declaration, the director shall collect a fee of $8, which shall be remitted to the director of finance for deposit into the general fund.

Terms Used In Hawaii Revised Statutes 572C-5

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC

     (b)  Upon the payment of the fee, the director shall register the declaration and provide a certificate of reciprocal beneficiary relationship to each party named on the declaration.  The director shall maintain a record of each declaration of reciprocal beneficiary relationship filed with or issued by the director.