§39-163 - Priority of a security interest. - Hawaii Statutes

     [§39-163]  Priority of a security interest.  The priority of any security interest created by a governmental unit shall be governed by the contractual terms set forth in the measure or measures, including the terms of any indenture or any other agreement approved by the measure or measures, adopted by the governmental unit.  No security interest having priority over an existing security interest may be created in violation of the terms of an existing measure governing outstanding bonds. [L 2000, c 28, pt of §1]