Requesting the Department of Commerce and Consumer Affairs to evaluate transparency mechanisms for large private trusts.

The bill requests the Department of Commerce and Consumer Affairs to evaluate registration, reporting, and transparency mechanisms for large private trusts formed under Chapter 554G, Hawaii Revised Statutes. It seeks to identify existing requirements, assess the sufficiency of current law for requiring registration or periodic reporting, and recommend potential statutory amendments. The evaluation also includes assessing the feasibility of implementing transparency mechanisms for large or long-duration private trusts.

Requesting the Department of Commerce and Consumer Affairs to evaluate transparency mechanisms for large private trusts.

The bill requests the Department of Commerce and Consumer Affairs to evaluate registration, reporting, and transparency mechanisms for large private trusts formed under Chapter 554G, Hawaii Revised Statutes. It seeks to identify existing requirements, assess the sufficiency of current law for requiring registration or periodic reporting, and recommend potential statutory amendments. The evaluation also includes assessing the feasibility of implementing transparency mechanisms for large or long-duration private trusts.