Requesting evaluation of registration, reporting, and transparency mechanisms for large private trusts in Hawaii.

The bill requests the Department of Commerce and Consumer Affairs to evaluate existing registration, reporting, and transparency mechanisms for trusts formed under Chapter 554G, Hawaii Revised Statutes, and other large private trusts. It seeks to identify any existing requirements for trustees and trust companies, assess the sufficiency of current law for requiring registration or periodic reporting of large private trusts, and evaluate the feasibility of implementing transparency mechanisms for large or long-duration private trusts.

Requesting evaluation of registration, reporting, and transparency mechanisms for large private trusts in Hawaii.

The bill requests the Department of Commerce and Consumer Affairs to evaluate existing registration, reporting, and transparency mechanisms for trusts formed under Chapter 554G, Hawaii Revised Statutes, and other large private trusts. It seeks to identify any existing requirements for trustees and trust companies, assess the sufficiency of current law for requiring registration or periodic reporting of large private trusts, and evaluate the feasibility of implementing transparency mechanisms for large or long-duration private trusts.