§554-4  Annual account; trustees to file. 
Every trustee acting under appointment of any court or under any appointment
requiring the approval of any court, shall, except in cases where the prior
trustee, if any, was not required by statute or the instrument creating the
trust or appointing the trustee to file such an account, file annually with the
court having jurisdiction thereof an account showing in detail all receipts and
disbursements, together with a full and detailed inventory of all property in the
trustee's possession or under the trustee's control; provided that the court in
cases in which it deems it advisable in the interests of the beneficiaries may
permit the accounts to be filed biennially or triennially instead of annually
or, if they are filed annually, may permit them to accumulate to be passed upon
biennially or triennially; and provided further that the court on its own
examination or that of its clerk, shall, without reference to a master, pass
upon the accounts in cases in which the annual income does not exceed $1,000,
except in the case of a final account when the court may refer the same to a
master, irrespective of the amount of the annual income, if for any reason it
is deemed proper or necessary.  If any such trustee fails to file an account as
herein required, the clerk of the court in which the trustee is required to
file the account, shall notify the trustee promptly of such failure, and, if
the trustee fails to file the account within thirty days after such
notification, the trustee shall be cited to appear before the court and be
required to show cause why the trustee should not be punished for contempt of
court as provided by section 710-1077 and the trustee shall be subject to all
of the penalties in such section provided.  The court may also, in its
discretion, remove any such trustee.



Unless otherwise required by the instrument
creating the trust, nothing in this section shall be construed to require the
filing of an annual account by a trustee or trustees appointed by the court as
additional trustee or trustees to serve with or in the place and stead of a
trustee or trustees appointed in the instrument creating a trust, nor by a
trustee whose appointment is made in accordance with or pursuant to the
instrument creating the trust where such appointment has been confirmed by any
court in proceedings brought to secure the confirmation or approval thereof. 
This provision applies to trusts existing on May 13, 1935, and appointments
made thereunder as well as to future trusts. [L 1915, c 101, §1; RL 1925,
§2475; am L 1929, c 169, §1; am L Sp 1933, c 38, §1; RL 1935, §4713; am L 1935,
c 154, §1 and pt of §2; RL 1945, §12574; am L 1945, c 186, §1; RL 1955, §340-4;
HRS §554-4; am L 1976, c 200, pt of §1; am L 1984, c 95, §11]



 



Cross References



 



  Commissions and further allowances of trustees, see §607-18.



 



Rules of Court



 



  Accountings, see Hawaii Probate Rules, part A(VII); HPR rules
83, 84.



  Ex parte proceedings regarding accounts, applicability of
Hawaii Rules of Civil Procedure, see HRCP rule 81(a).



 



Case Notes



 



  Duty to render accurate accounts.  30 H. 359, 391.



  Trustee may not make profits for itself.  30 H. 359, 386; 47
H. 629, 394 P.2d 432.



  Right to interest on advance made by trustee to pay
interest.  31 H. 958.



  Ex parte approval of accounts not binding.  34 H. 263; 35 H.
501, 537; 35 H. 689, 707; 46 H. 475, 559, 382 P.2d 920.



  What bookkeeping system required of trustee.  34 H. 417.



  Whether accounts should be settled before termination of
trust, duty of master to advise court.  46 H. 475, 561, 382 P.2d 920.



  An appellate court in reviewing trustee's accounting has duty
to question any receipt or expenditure which is improper without regard to
whether the issues were argued and briefed on appeal. 53 H. 604, 499 P.2d 670.



  Trial court's award of master's fee will be reversed only on
showing of abuse of discretion.  53 H. 604, 499 P.2d 670.



  Cited:  36 H. 403, 452; 37 H. 111, 122, 146.