STAND. COM. REP. NO. 655
RE: H.B. No. 943
Honorable Scott K. Saiki
Speaker, House of Representatives
Thirty-First State Legislature
Regular Session of 2021
State of Hawaii
Your Committee on Finance, to which was referred H.B. No. 943, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO NONDEPOSITORY TRUSTS,"
begs leave to report as follows:
(1) Clarifying the powers and duties of nondepository trust companies;
(2) Changing the yearly assessments on nondepository trust companies by basing the calculation on total assets under management; and
(3) Establishing a paid-in capital and surplus requirement in order to charter nondepository trust companies in the State.
As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 943, H.D. 1, and recommends that it pass Third Reading.
Respectfully submitted on behalf of the members of the Committee on Finance,
SYLVIA LUKE, Chair