Terms Used In Hawaii Revised Statutes 171-95.5

• Board: means the board of land and natural resources. See Hawaii Revised Statutes 171-1
• Department: means the department of land and natural resources. See Hawaii Revised Statutes 171-1
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}