Hawaii Revised Statutes 206M-65 – Actions of the development corporation; guidelines
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Terms Used In Hawaii Revised Statutes 206M-65
- Board: means the board of directors of the development corporation established in section 206M-2, and any successor thereto. See Hawaii Revised Statutes 206M-1
- 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.
- county: includes the city and county of Honolulu. See Hawaii Revised Statutes 1-22
- Development corporation: means the Hawaii technology development corporation established by section 206M-2. See Hawaii Revised Statutes 206M-1
- Direct investment: means an investment by the corporation in qualified securities of an enterprise to provide capital to an enterprise. See Hawaii Revised Statutes 206M-1
- Enterprise: means a person with a place of business in Hawaii which is, or proposes to be, engaged in business in Hawaii; provided that the endeavor shall not be devoted to the sale of goods at retail, construction of housing, or tourism- related services. See Hawaii Revised Statutes 206M-1
- Minority-owned businesses: means businesses at least fifty per cent owned, controlled, and managed by socially or economically disadvantaged persons. See Hawaii Revised Statutes 206M-1
- Person: means a sole proprietorship, partnership, joint venture, corporation, or other association of persons organized for commercial or industrial purposes. See Hawaii Revised Statutes 206M-1
- Project: means the acquisition, construction, improvement, installation, equipping, and development of any combination of land, buildings, and other improvements thereon, including, without limitation, parking facilities for use of, or to assist a technology industrial, manufacturing, or processing enterprise located within or without an econimic zone, including, without limiting the generality of the foregoing, machinery, equipment, furnishings, and apparatus that shall be deemed necessary, suitable, or useful to the enterprise. See Hawaii Revised Statutes 206M-1
The development corporation shall not acquire securities to an extent that would provide the development corporation effective voting control of any enterprise after giving effect to the conversion of all outstanding convertible securities of the enterprise.