Hearing on Recodification & Investment Bills

There is a hearing on Thursday, March 31, 2005 at 2:00 p.m. in room 308 on some bills of interest to community associations before the House Finance Committee before chair, Rep. Dwight Y. Takamine. The hearing notice discusses the following bills of interest to community associations:

SB 1132 HD1 This is the second part of the Recodification. Although there are issues with the Recodification, it is better than the current law.

SB1137 SD1 This bill would eliminate the prohibition on purchasing CDs through a securities broker from the Recodification. The prohibition was added at the last minute and would make most associations immediately in violation of the law upon the effective date of the Recodification. There is no good reason for associations to be limited in the ways it acquires its federally insured investments.


PERSONS WISHING TO TESTIFY ARE REQUESTED TO SUBMIT 45 COPIES OF THEIR TESTIMONY AT LEAST 24 HOURS PRIOR TO THE HEARING TO: (1) ROOM 306, STATE CAPITOL, OR (2) THE HOUSE SGT.-AT-ARMS TESTIMONY DROP OFF BOX IN THE TURNAROUND AREA OF THE CAPITOL BASEMENT PARKING LOT. TESTIMONY MAY ALSO BE FAXED IF LESS THAN 5 PAGES IN LENGTH TO THE HOUSE SGT.-AT-ARMS OFFICE AT: 586-6501 (OAHU) OR 1-800-535-3859 (NEIGHBOR ISLANDS). WHEN FAXING, PLEASE INDICATE TO WHOM THE TESTIMONY IS BEING SUBMITTED, THE DATE AND TIME OF THE HEARING, AND THE REQUIRED NO. OF COPIES THAT IS NEEDED FOR SUBMITTAL.