[§304A-2257]  University of Hawaii student
activities revolving fund.  (a)  There is established the University of
Hawaii student activities revolving fund into which shall be deposited all
funds assessed as compulsory student activity fees and collected by the
University of Hawaii on behalf of chartered student organizations and student
activity programs of the several campuses of the University of Hawaii system. 
All revenues received by chartered student organizations and student activity
programs from student activities and programs, except those revenues to which
other special funds have prior claim, shall also be deposited into the
revolving fund.



(b)  Separate accounts shall be maintained for
each chartered student organization and student activity program.  Funds from
the accounts may be withdrawn and expended by each respective chartered student
organization or student activity program for any purpose that it deems
necessary and proper to carry out and achieve its educational responsibilities,
programs, and related activities; provided that approval for the expenditure is
first obtained from the board of regents or its designated representative,
except that approval is not required for expenditures for the purchase of
flowers, leis, food, refreshments, and prizes if the purchases do not exceed an
amount determined by policies adopted by the board of regents; and provided
further that the amount shall not exceed the funds available to any chartered
student organization or student activity program annually.



(c)  Other laws to the contrary
notwithstanding, any chartered student organization may be permitted to
withdraw and expend funds from the special accounts to employ or retain, by
contract or otherwise, an attorney or attorneys only for the purpose of
defending such organization in any litigation.  Any chartered student
organization specifically organized to provide student publications or
broadcast communications may also be permitted to withdraw and expend funds
from the special accounts to employ or retain, by contract or otherwise, an
attorney for the purpose of rendering legal advice to avoid lawsuits.  The
expenditures in this subsection shall be approved by, and in accordance with
policies adopted by, the board of regents.  No funds expended under this
subsection may be used to defend chartered student organizations for any wilful
or malicious act or to pay for any claim for loss or damage arising from the
activities of the chartered student organizations, including costs, expenses,
and liabilities incurred in connection with any claim or proceeding brought
against a chartered student organization for damages resulting from the act or
omission of a chartered student organization or any member thereof.  All moneys
received for the University of Hawaii student activities revolving fund shall
be deposited in a depository maintained by the university in accordance with
policies that shall be adopted by the board of regents. [L 2006, c 75, pt of
§2]