Section 15-3-7 - State's rights with respect to reserve account(a) All of the money in a reserve account established under this chapter is property of the State.(b) The State is entitled to earn interest on the amount of contributions made by the department, borrower, and lender to a reserve account under this chapter. The department shall withdraw monthly or quarterly from a reserve account the amount of the interest earned by the State. The department shall deposit the amount withdrawn under this section into the fund.(c) If the amount in a reserve account exceeds thirty-three percent (33%) of the balance of the lender's outstanding capital access loans, the department may withdraw the excess amount and deposit the amount in the fund. A withdrawal of money authorized under this subsection may not reduce an active reserve account to an amount that is less than $200,000.(d) The department shall withdraw from the reserve account the total amount deposited in the account and any interest earned on the account, and deposit the amount in the fund when: (1) A lender is no longer eligible to participate in the program or a participation agreement entered into under this chapter is terminated without renewal by the department or the lender; and(2) The lender has no outstanding capital access loans.[Eff. ] (Auth: HRS §§ 211D-2 and 211D-4) (Imp: HRS § 211D-8)