HRS §304A-2355
How the university can spend endowment income
This section creates a special fund for the University of Hawaii. Money earned from the university's endowment goes into this fund. The university can spend that money on student financial aid, scholarships, student support services, awards, and project opportunities, as the board of regents decides.
The statute, as written — University of Hawaii quasi-endowment trust fund
There is established the University of Hawaii quasi-endowment trust fund into which shall be deposited income derived from the university's endowment fund. Income deposited into this account may be expended by the university as set forth by the board of regents in policies and guidelines for costs and expenses associated with student financial aid programs, including scholarships and student support services, awards, and project opportunities for the university.
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