§419-3  Powers of corporation sole. (a)  Every corporation sole formed under this chapter shall have the powers setforth in section 414D-52.

(b)  Every such corporation shall havecontinuity of existence, notwithstanding vacancies in the incumbency thereof,and during the period of any vacancy, shall have the same capacity and right toreceive and take any gift, bequest, devise, or conveyance of property, eitheras grantee for its own use, or as a trustee (where the trusteeship is withinits corporate purposes and subject to removal from such trusteeship as providedby law), and to be or be made the beneficiary of a trust, as though there wereno vacancies.

(c)  No agency created by a corporation sole bya written instrument which, in express terms, provides that the agency therebycreated shall not be terminated by a vacancy in the incumbency of thecorporation, shall be terminated or affected by the death of the incumbent ofthe corporation or by a vacancy in the incumbency thereof, however caused. [LSp 1941, c 58, pt of §1(6767); RL 1945, §8403; RL 1955, §175-3; HRS §419-3; amL 1988, c 370, §1; am L 2002, c 40, §54]