Chapter 554G — Permitted
11 sections in this chapter.
HRS §554G-10 Effect of avoidance of permitted transfers
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§554G-10 Effect of avoidance of permitted transfers. (a) A creditor may avoid a permitted transfer pursuant to section 554G-8 only to the extent necessary to satisfy the transferor's debt to the creditor at whose instance the transfer has been avoided, together with costs includi…
HRS §554G-12 REPEALED
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§554G-12 REPEALED. L 2011, c 161, §12.
HRS §554G-2 Definitions
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§554G-2 Definitions. As used in this chapter: "Claim" means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured. "Creditor" means, with …
HRS §554G-3 REPEALED
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§554G-3 REPEALED. L 2011, c 161, §11.
HRS §554G-4 Permitted trustees
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§554G-4 Permitted trustees. If a permitted trustee of a trust ceases to meet the criteria for a permitted trustee as defined in section 554G-2, and there remains no trustee that meets the requirements, the permitted trustee shall be deemed to have resigned as of the time that the…
HRS §554G-4.5 Advisors
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§554G-4.5 Advisors. (a) A transferor may appoint, through the trust instrument, one or more advisors or protectors, including: (b) While a trustee may appoint an advisor, the administrative and non-administrative authority over the trust shall remain with the trustee. (c) Notwith…
HRS §554G-5 Trust instrument
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§554G-5 Trust instrument. (a) A trust instrument shall be irrevocable and shall expressly incorporate the laws of this State governing the validity, construction, and administration of the trust. (b) The trustee, in its discretion, may terminate any trust if and when its fair mar…
HRS §554G-6 Investments
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§554G-6 Investments. Nothing in this chapter shall prohibit a trustee from diversifying trust assets. [L 2010, c 182, pt of §2; am L 2011, c 161, §6]
HRS §554G-7 Retained interests of transferor
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§554G-7 Retained interests of transferor. (a) A permitted transfer shall be subject to this chapter notwithstanding a transferor's retention of any or all of the powers and rights described in section 554G-5(c) and notwithstanding the transferor's service as investment advisor pu…
HRS §554G-8 Avoidance of permitted transfers in trust
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§554G-8 Avoidance of permitted transfers in trust. (a) No claim, including an action to enforce a judgment entered by a court or other body having adjudicative authority, by a creditor against property that is subject to a permitted transfer that arises after a permitted transfer…
HRS §554G-9 Limitations on permitted transfers
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§554G-9 Limitations on permitted transfers. The limitations contained in section 554G-8 on actions by creditors to avoid permitted transfers shall not apply to: