HRS §454F-43
How the mortgage loan recovery fund is managed
This section says who holds and manages the mortgage loan recovery fund. The commissioner or their designee keeps the money, can invest it like state retirement funds, and can spend it to hire a private lawyer for fund-related cases.
The statute, as written — Management of fund
(a) The sums received by the division pursuant to section 454F-41 for deposit into the mortgage loan recovery fund shall be held by the commissioner or the commissioner's designee to carry out the purpose of the mortgage loan recovery fund. These funds may be invested and reinvested in the same manner as funds of the state employees' retirement system. (b) The commissioner or the commissioner's designee, as the manager of the mortgage loan recovery fund, shall be authorized to expend moneys from the fund to retain private legal counsel to represent the commissioner in any action involving the mortgage loan recovery fund.
Sections this one refers to
§454F-41 Mortgage loan recovery fund: who pays, who gets paid, and how it is managed
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