§219.1. General assistance. (a) The department is authorized to carry on any activities it deems necessary to assist the lessees in obtaining maximum utilization of the leased lands, including taking any steps necessary to develop these lands for their highest and best use commensurate with the purposes for which the land is being leased as provided for in section 207, and assisting the lessees in all phases of farming, ranching, and aquaculture operations and the marketing of their agricultural [or] aquacultural produce and livestock.
(b) Notwithstanding any law to the contrary, the department either alone or together with any other governmental agency, may:
(1) Form an insurance company, association (nonprofit or otherwise), pool, or trust;
(2) Acquire an existing insurance company;
(3) Enter into arrangements with one or more insurance companies; or
(4) Undertake any combination of the foregoing; upon such terms and conditions and for such periods, as the commission shall approve, to provide homeowner protection, including hurricane coverage, for lessees participating in such undertaking. Such undertaking shall be subject to the provisions of chapter 431P, including but not limited to section 431P-10(b), and chapter 431.
(c) The department, if experiencing any of the power as authorized under subsection (b) may:
(1) Issue revenue bonds under and pursuant to part III of chapter 39, Hawaii Revised Statutes, to establish necessary reserves to provide for the payment of claims in excess of reserves and for other related purposes; or to pay any liability incurred that is self-insured or uninsured by the commission including without limitations, liabilities for damage to property, comprehensive liability, environmental, or other losses; and
(2) Invest funds held in reserve, which are not required for immediate disbursement, in property or securities in which savings banks may legally invest funds subject to their control or as the commission may authorize by resolution. [L 1962, c 14, §6; am imp L 1963, c 207, §2; am L 1981, c 90, §9; am L 1993, c 339, §7]
In subsection (a), "or" substituted for "of".