HRS §206-16
How the land board can invest reserve funds
The land board may put reserve or extra money into investments that savings banks are allowed to make. Other rules about how public groups buy, run, or sell property do not apply to the board unless the law says otherwise.
state agencies
The statute, as written — Investment of reserves
The board of land and natural resources may invest any funds held in reserves or sinking funds, or any funds not required for immediate disbursement, in property or securities in which savings banks may legally invest funds subject to their control. No provisions with respect to the acquisition, operation, or disposition of property by other public bodies shall be applicable to the board under this chapter unless otherwise specifically provided by law.
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