HRS §167-9
How the board must protect money it deposits
The board of agriculture and biosecurity can choose to protect money it puts in a bank. It can use the same type of security the state finance director uses, or get a bond from approved sureties. Banks and trust companies are allowed to provide this security.
financial institutionsstate agencies
The statute, as written — Security for funds deposited by board
The board of agriculture and biosecurity may by resolution provide that all moneys deposited by it shall be secured: (1) By any securities by which funds deposited by the director of finance of the State may be legally secured, as provided in section 38-3; or (2) By an undertaking with such sureties as shall be approved by the board faithfully to keep and pay over upon the order of the board any such deposits and agreed interest thereon, and all banks and trust companies are authorized to give any such security for the deposits.
Sections this one refers to
§38-3 What security must back state deposits
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