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HI SB2345
Bill
AI Summary
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Appropriates $50,000 from general revenues for fiscal year 2014-2015 to the office of the securities commissioner for educational outreach targeted at kupuna (Hawaiian elders).
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Directs the Department of Commerce and Consumer Affairs to base the educational program on existing investor education models, with particular focus on indexed annuities, life-settlement annuities, variable annuities, and Ponzi schemes.
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Addresses the legislature's finding that elderly citizens in Hawaii face elevated risk of investment fraud, with the state's aging population growing faster than the national average.
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Takes effect July 1, 2014.
Legislative Description
Office of the Securities Commissioner; Investor Education Program; Kupuna; Appropriation ($)
Last Action
Act 152, 6/30/2014 (Gov. Msg. No. 1255).
7/3/2014