Hawaii Revised Statutes 281-95 – Bankruptcy, insolvency, death
Terms Used In Hawaii Revised Statutes 281-95
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Commission: means the liquor commission for the county within which such commission has jurisdiction under this chapter. See Hawaii Revised Statutes 281-1
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Gross sales: means the total receipts actually received from the sale of liquor for which the license has been issued without deduction on account of the cost of property sold or expenses of any kind. See Hawaii Revised Statutes 281-1
- License: means any license granted under this chapter. See Hawaii Revised Statutes 281-1
- Licensee: includes also all agents, servants, and employees of the holder of a license. See Hawaii Revised Statutes 281-1
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- premises: includes the hotel premises; provided further that in the case of a class 15 condominium hotel license, "premises" includes units, as defined in § 514B-3, that are used to provide transient lodging for periods of less than thirty days under a written contract with the owner or owners of each unit in, and common elements for access purposes as established by the declaration of condominium property regime of, the condominium hotel; and provided further that if an establishment is in a retail shopping complex the businesses of which have formed a merchants association, "premises" means the establishment. See Hawaii Revised Statutes 281-1
- Regulation: means any regulation prescribed by the commission with the approval of the elected executive head of the county for carrying out this chapter. See Hawaii Revised Statutes 281-1
- Trustee: A person or institution holding and administering property in trust.
If a licensee becomes a legally adjudicated bankrupt, or makes an assignment for the benefit of the licensee’s creditors, or dies, before the expiration of the term of the licensee’s license, the licensee’s trustee in bankruptcy, assignee, or personal representative, as the case may be, may, with the consent of the liquor commission, continue to exercise the license for the purpose of closing the affairs of the estate; but if not so continued within forty-five days the commission shall cancel the license.
If a mortgage on the premises covered by a license is foreclosed before the expiration of the term of the license, the mortgagee, or the mortgagee’s authorized representative or a duly appointed commissioner of sale may, with the consent of the commission, continue to exercise the license or continue it in effect for the purpose of completing a sale of the premises under the foreclosure proceedings. Notwithstanding any rule or regulation of the commission to the contrary, the payment of any renewal fee for a license issued for the premises involved in foreclosure proceedings or additional fee accrued on the basis of gross sales made under such a license may be withheld until sale of the premises has been completed.