Chapter 556 — Chapter 556
10 sections in this chapter.
HRS §556-1 Definition of terms
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§556-1 Definition of terms. (a) In this chapter unless the context or subject matter otherwise requires: "Bank" includes any person or association of persons, whether incorporated or not, carrying on the business of banking. "Fiduciary" includes a trustee under any trust, express…
HRS §556-10 Cases not provided for in chapter
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§556-10 Cases not provided for in chapter. In any case not provided for in this chapter the rules of law and equity, including the law merchant and those rules of law and equity relating to trusts, agency, negotiable instruments, and banking, shall continue to apply. [L 1945, c 1…
HRS §556-2 Application of payments made to fiduciaries
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§556-2 Application of payments made to fiduciaries. A person who in good faith pays or transfers to a fiduciary any money or other property which the fiduciary as such is authorized to receive, is not responsible for the proper application thereof by the fiduciary; and any right …
HRS §556-3 Transfer of negotiable instrument by fiduciary
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§556-3 Transfer of negotiable instrument by fiduciary. If any negotiable instrument payable or indorsed to a fiduciary as such is indorsed by the fiduciary, or if any negotiable instrument payable or indorsed to the fiduciary's principal is indorsed by a fiduciary empowered to in…
HRS §556-4 Check drawn by fiduciary payable to third person
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§556-4 Check drawn by fiduciary payable to third person. If a check or other bill of exchange is drawn by a fiduciary as such, or in the name of the fiduciary's principal by a fiduciary empowered to draw such instrument in the name of the fiduciary's principal, the payee is not b…
HRS §556-5 Check drawn by and payable to fiduciary
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§556-5 Check drawn by and payable to fiduciary. If a check or other bill of exchange is drawn by a fiduciary as such or in the name of the fiduciary's principal by a fiduciary empowered to draw such instrument in the name of the fiduciary's principal, payable to the fiduciary per…
HRS §556-6 Deposit in name of fiduciary as such
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§556-6 Deposit in name of fiduciary as such. If a deposit is made in a bank to the credit of a fiduciary as such, the bank is authorized to pay the amount of the deposit or any part thereof upon the check of the fiduciary, signed with the name in which such deposit is entered, wi…
HRS §556-7 Deposit in name of principal
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§556-7 Deposit in name of principal. If a check is drawn upon the account of its principal in a bank by a fiduciary who is empowered to draw checks upon the fiduciary's principal's account, the bank is authorized to pay such check without being liable to the principal, unless the…
HRS §556-8 Deposit in fiduciary's personal account
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§556-8 Deposit in fiduciary's personal account. If a fiduciary makes a deposit in a bank to his personal credit of checks drawn by him upon an account in his own name as fiduciary, or of checks payable to him as fiduciary, or of checks drawn by him upon an account in the name of …
HRS §556-9 Deposit in names of two or more trustees
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§556-9 Deposit in names of two or more trustees. When a deposit is made in a bank in the name of two or more persons as trustees and a check is drawn upon the trust account by any trustee or trustees authorized by the other trustee or trustees to draw checks upon the trust accoun…