Hawaii § 155-8 - Direct loans.
Full text of Hawaii Hawaii Revised Statutes § 155-8 — Direct loans., with citation guidance and answers to common questions.
§ 155-8. Direct loans.
(a) The department of agriculture and biosecurity may make loans directly to qualified farmers, qualified new farmers, or qualified food manufacturers who are unable to obtain sufficient funds at reasonable rates from private lenders either independently or under sections 155-5, 155-5.5, and 155-6. (b) Loans made under this section shall be limited by sections 155-9 to 155-13; provided that class "E" loans to food manufacturers shall not be subject to [section] 155-10. (c) Loans made under this section shall bear simple interest on the unpaid principal balance, charged on the actual amount disbursed to the borrower. The interest rate on loans of class "A", "B", "C", "E", "G", and "J" shall be at a rate of four per cent a year. The interest rate of class "D", "F", "H", "I", and "K" loans shall be three per cent a year. If the money loaned is borrowed by the department, then the interest on loans of the classes shall be the rate as determined above or one per cent over the cost to the State of borrowing the money, whichever is greater. Interest on loans made under this chapter shall not be less than three per cent a year. (d) For loans made under this section, funds shall be disbursed in accordance with regulations of the department. [L 1959, c 278, pt of §1; am L Sp 1959 2d, c 1, §25; am L 1961, c 104, §1(j) and c 132, §2; Supp, §102-8; HRS §155-8; am L 1968, c 53, §6; am L 1972, c 87, §2; am L Sp 1977 1st, c 19, §1; am L 1979, c 222, §6; am L 1989, c 222, §3 and c 317, §2; am L 1990, c 259, §2; am L 1997, c 258, §4; am L 2000, c 51, §9; am L 2008, c 209, §3; am L 2011, c 184, §4; am L 2015, c 155, §6 ; am L 2025, c 69, §4 and c 236, §17] Previous Vol03_Ch0121-0200D Next
Frequently Asked Questions About Hawaii § 155-8
What does Hawaii Revised Statutes § 155-8 cover?
Section 155-8 ("Direct loans.") is part of the Hawaii Revised Statutes, the codified statutory law of Hawaii. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Hawaii § 155-8?
A common citation format is "Hawaii Revised Statutes § 155-8" (Hawaii). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Hawaii law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Hawaii official source linked on this page or consult a licensed Hawaii attorney.
How does Hawaii § 155-8 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Hawaii can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Hawaii.