§88-33  Prohibited interest of trustees and
employees of board.  Except as herein provided, no trustee and no employee
of the board of trustees shall have any direct interest in the gains or profits
of any investment made by the board, nor as such receive any pay or emolument
for the trustee's and employee's services.  No trustee or employee of the board
shall, directly or indirectly, for oneself or as an agent in any manner use the
moneys of the system, except to make such current and necessary payments as are
authorized by the board; nor shall any trustee or employee of the board become
an indorser or surety or become in any manner an obligor for moneys loaned by
or borrowed from the board. [L 1925, c 55, pt of §7; RL 1935, pt of §7926; RL
1945, §711, subs 4; RL 1955, §6-80; HRS §88-32; am L 1969, c 110, pt of §1; gen
ch 1985]



 



Attorney General Opinions



 



  Participation by two trustees in disposition of loan
application held to be in conflict of interest.  Att. Gen. Op. 64-25.