§304A-2251 University of Hawaii commercial enterprises revolving fund. There is established the University of Hawaii commercial enterprises revolving fund into which shall be deposited all revenues derived from the operation of commercial enterprises by university programs. Revenues deposited into this fund may be expended by the university for all costs and expenses associated with the operation of the enterprises, including hiring personnel, renovating commercial space, and purchasing merchandise, supplies, and equipment, without regard to chapters 76, 78, 89, 103, and 103D. Any law to the contrary notwithstanding, the university may transfer all funds at its disposal, with the exception of general funds and University of Hawaii tuition and fees special fund moneys, into the revolving fund to finance the establishment of new commercial enterprises; except that no more than ten per cent of the tuition and fees special fund moneys may be loaned to the revolving fund to finance the establishment of new commercial enterprises. Revenues not expended as provided in this section may be transferred to other university funds to be expended for the general benefit of the university. [L 2006, c 75, pt of §2; am L 2008, c 106, §§1, 3; am L 2009, c 11, §13; am L 2010, c 42, §1]
Section: Previous 304a-2174 304a-2175 304a-2176 304a-2177 304a-2178 304a-2179 304a-2180 304a-2251 304a-2252 304a-2253 304a-2254 304a-2255 304a-2256 304a-2257 304a-2258 NextLast modified: October 27, 2016