§421C-42 - Disposition of non-escheat patronage refunds. - Hawaii Statutes

     [§421C-42]  Disposition of non-escheat patronage refunds.  (a)  An electric utility cooperative association shall transfer all non-escheat patronage refunds to a nonprofit corporation incorporated pursuant to chapter 414D.

     (b)  The nonprofit corporation to which non-escheat patronage refunds are transferred pursuant to subsection (a) shall use the non-escheat patronage refunds to:

     (1)  Fund electric energy assistance programs for low-income persons who reside in the service area of the electric utility cooperative association;

     (2)  Make donations to other nonprofit charitable and community organizations, as authorized by its board of directors;

     (3)  Grant educational scholarships to individuals who reside in the service area of the electric utility cooperative association; or

     (4)  Support other appropriate uses for the benefit of the general membership of the electric utility cooperative association, as may be authorized by its board of directors. [L 2005, c 52, pt of §1]