HRS §421C-19
Limits on interest-dividends and unclaimed amounts
This section sets limits on how much interest-dividends a cooperative housing association can pay on member shares. It also says that if you don't claim your interest-dividends within six months after the association tells you they are available, the association can take them back.
condominium associationshomeowners
The statute, as written — Limitations on interest-dividends
(a) Interest-dividend interest on share or membership capital shall not exceed the current annual Consumer Price Index percentage increase, or eight per cent, whichever is greater. Interest on loans by members to the association shall not be limited by this section. (b) Total interest-dividends distributed for any single period shall not exceed thirty per cent of the net savings for that period. Interest-dividends are noncumulative and the association shall have the right to confiscate all interest-dividends not claimed within six months after the notice of the distribution has been made by either mail or by prominent sign in all the association's locations.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.