Hawaii Revised Statutes 488-6 – Investments of certain plans
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Terms Used In Hawaii Revised Statutes 488-6
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- plan: means any arrangement by which a person as defined in § 431:1-212, or entity, not otherwise authorized to engage in the practice of law, offers to provide or arranges for the provision of legal services in exchange for any valuable consideration that is paid to the plan. See Hawaii Revised Statutes 488-1
No plan promising or offering to pay for legal services in an amount equal to or in excess of $25 a year shall invest any of its assets other than as authorized and provided for in respect to domestic insurance companies and societies under chapters 431 and 432, which provisions are hereby extended to and made applicable to prepaid legal service plans.