Requesting the Department of Commerce and Consumer Affairs to evaluate and report on registration, reporting, and transparency mechanisms for large.

The bill asks the Department of Commerce and Consumer Affairs to study and report on the registration, reporting, and transparency mechanisms for large private trusts in Hawaii. It specifically focuses on trusts formed under Chapter 554G, Hawaii Revised Statutes, which include self-settled asset protection trusts. The evaluation will include assessing existing laws, determining if they provide enough authority for registration or reporting, and considering the feasibility of implementing transparency mechanisms.

Requesting the Department of Commerce and Consumer Affairs to evaluate and report on registration, reporting, and transparency mechanisms for large.

The bill asks the Department of Commerce and Consumer Affairs to study and report on the registration, reporting, and transparency mechanisms for large private trusts in Hawaii. It specifically focuses on trusts formed under Chapter 554G, Hawaii Revised Statutes, which include self-settled asset protection trusts. The evaluation will include assessing existing laws, determining if they provide enough authority for registration or reporting, and considering the feasibility of implementing transparency mechanisms.