§88-33  Prohibited interest of trustees andemployees of board.  Except as herein provided, no trustee and no employeeof the board of trustees shall have any direct interest in the gains or profitsof any investment made by the board, nor as such receive any pay or emolumentfor the trustee's and employee's services.  No trustee or employee of the boardshall, directly or indirectly, for oneself or as an agent in any manner use themoneys of the system, except to make such current and necessary payments as areauthorized by the board; nor shall any trustee or employee of the board becomean indorser or surety or become in any manner an obligor for moneys loaned byor borrowed from the board. [L 1925, c 55, pt of §7; RL 1935, pt of §7926; RL1945, §711, subs 4; RL 1955, §6-80; HRS §88-32; am L 1969, c 110, pt of §1; gench 1985]

 

Attorney General Opinions

 

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