§501-216 State, not liable when. The State shall not be liable to pay for any loss, damage, or deprivation occasioned by a breach of trust, whether expressed, implied, or constructive, by any registered owner who is a trustee, or by the improper exercise of any power of sale in a mortgage. Nor shall any plaintiff prosecuting a contract claim under this chapter recover as compensation more than the fair market value of the real estate at the time when the plaintiff suffered the loss, damage, or deprivation thereof. [L 1903, c 56, §102; RL 1925, §3292; am L 1932 2d, c 33, §5; RL 1935, §5103; RL 1945, §12703; RL 1955, §342-103; HRS §501-216; am L 1972, c 91, §1(pp); gen ch 1985]