HRS §386A-6
Directors’ protection when an investment manager is appointed
This section protects directors of a fund when an investment manager has been hired. Directors are not responsible for what the investment manager does or fails to do, and they do not have to invest or manage the fund’s assets that the manager handles.
everyone
The statute, as written — Limitation of liability of directors
If an investment manager has been appointed under this chapter, no director shall be liable for the acts or omissions of such investment manager or be under an obligation to invest or otherwise manage any assets of the fund, which are subject to management by the investment manager.
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