About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline

1978 Hawaii Attorney General Reports and Opinions 1 (1978)

handle is hein.sag/saghi0027 and id is 1 raw text is: ADDRE5S PrPLY TO
**THE ATTORNEY GENERAL OF HAWAII
AND REFER 70
INITIALS AND NUMBER
RYKL:inwv
17a
Op. NO.         8-

CABLE ADDRESS
ATTGEN

STATE OF HAWAII
DEPARTMENT OF THE ATTORNEY GENERAL
HAWAII STATE CAPITOL
4TH FLOOR
HONOLULU. HAWAII 96813
March 16, 1978
Mrs. Ruth Oshiro
Chairperson
Board of Regents
tUnivcrsity of Haviaii
Bachman Hall
2444 Dole Street
Honolulu, Hawaii 96822
Dear Madame Chairperson:
Re: Delegation of Investment Authority
to External Investment Manacers
This is in response to your questions of whether
the Board of Regents can delegate investment authority
(buy-sell decisions) to external investment managers
(outsiders); and the extent to which the Board would be
liable for the acts of its delegates.
Although your question only concerned the investment
of proceeds from purchased shares of Honolulu Stadium,
Limited, stock, we will also address the question of the
investment of Honolulu Stadium, Limited, stocks transferred
in trust to the University or to the Board of Regents.
It is our opinion that the Board of Regents
may properly delegate limited investment authority to external
investment managers. Pursuant to this delegation, the Board
would not be liable, as a personal guarantor, for the individual
acts of its investment managers.

UNIVrpRER:  OF: WASHINGTOff
SEATTLE, WA 900)

Op. No. 78-1

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Already a HeinOnline Subscriber?

profiles profiles most