Section 13-210-16 - Penalty payback In the event that the managing partner defaults on the partnership agreement as provided in section 13-210-15(a)(4) and the State has followed the lack of performance notification procedures as outlined in the partnership agreement, the managing partner shall promptly pay to the State the following payback and penalty moneys:
(1) All matching funds paid by the State to the managing partner in the previous six years (or such portion thereof if the partnership agreement has been in effect for less than six years) with interest at the rate and schedule specified in the partnership agreement. The department may, at its sole discretion, modify any payment schedule upon the request of the managing partner;(2) An additional penalty as specified in the partnership agreement; and(3) Only the managing partner receiving matching state funding under the natural area partnership program shall be liable to the State under the partnership agreement for the payback and penalty.[Eff JAN 08 1999] (Auth: HRS § 195-6.5(b) (5)) (Imp: HRS §§ 195-6.5(b) (3), 195-6.5(b) (5))