HRS § 88-22 - System established; name

There shall be a retirement system for the purpose of providing retirement allowances and other benefits for employees. It shall have the powers and privileges of a corporation and shall be known as the "Employees' Retirement System of the State of Hawaii" and by that name may sue or be sued, transact all of its business, invest all of its funds, and hold all of its cash and securities and other property. [L 1925, c 55, §2; am imp L 1927, c 251, §§1, 2, 5; RL 1935, §7921; am L 1935, c 48, §3; RL 1945, §702; RL 1955, §6-21; HRS ; am L 1969, c 110, pt of §1] Case Notes Where no showing that board's failure to authorize and pursue appeal would precipitate crisis in system's operations or jeopardize system's corporate existence, system's purported administrator could not initiate appeal on system's behalf under exception to general rule that only corporation's board possesses authority to control corporation's litigation. 87 H. 152, 952 P.2d 1215. Mentioned: 74 H. 181, 840 P.2d 367.