HRS §516-42
How the housing corporation can invest reserve funds
The Hawaii housing finance and development corporation can invest money it holds in reserve or sinking funds, or money it doesn't need right away, in the same types of property or securities that savings banks are allowed to invest in. Other rules about how public bodies handle property don't apply to this corporation unless the law says otherwise.
state agencies
The statute, as written — Investment of reserves
The Hawaii housing finance and development corporation 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 are applicable to the corporation under this part unless otherwise specifically provided by law.
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