Terms Used In Hawaii Revised Statutes 607-21

  • Fiduciary: A trustee, executor, or administrator.
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Trustee: A person or institution holding and administering property in trust.

Any receiver, assignee, guardian, trustee, committee, personal representative, commissioner, or other fiduciary required by law or the order of any court to give a bond, or other obligation as such, may include as a part of the lawful and chargeable expense of executing the individual’s trust a reasonable sum, to be paid to a company authorized under the laws of the State to become surety on the bond or obligation for becoming the individual’s surety thereon, as may be allowed by the court in which the individual is required to account, not exceeding one per cent a year on the amount of the bond.