Terms Used In Hawaii Revised Statutes > Chapter 431 > Article 14A - Hawaii Employers' Mutual Insurance Company

• Administrator: means the chief executive officer of the Hawaii employers' mutual insurance company. See Hawaii Revised Statutes 431:14A-102
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Bequest: Property gifted by will.
• Board: means the board of directors of the Hawaii employers' mutual insurance company. See Hawaii Revised Statutes 431:14A-102
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Company: means the Hawaii employers' mutual insurance company established by this article. See Hawaii Revised Statutes 431:14A-102
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Council: means the Hawaii employers' mutual insurance company oversight council. See Hawaii Revised Statutes 431:14A-102
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Devise: To gift property by will.
• Ex officio: Literally, by virtue of one's office.
• Fiduciary: A trustee, executor, or administrator.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Investment manager: means any fiduciary, who has been designated by the board to manage, acquire, or dispose of the company's assets, a bank as defined by law, or an insurance company qualified to perform services under the laws of more than one state. See Hawaii Revised Statutes 431:14A-102
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Oversight: Committee review of the activities of a Federal agency or program.
• Personal property: All property that is not real property.
• Qualified actuary: means a member of the American Academy of Actuaries who is either a fellow of the Casualty Actuarial Society or an Associate of the Casualty Actuarial Society who has five or more years of experience. See Hawaii Revised Statutes 431:14A-102
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Trustee: A person or institution holding and administering property in trust.