Terms Used In Hawaii Revised Statutes 412:2-506

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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.
• Failing financial institution: means a Hawaii financial institution or a federal financial institution whose operations are principally conducted in this State, and which:

  (1) Is insolvent or has failed to make good an impairment of its capital and surplus as provided in § 412:2-314;

  (2) Has incurred or is likely to incur losses that will deplete all or substantially all of its capital and surplus, and there is no reasonable prospect for such capital and surplus to be replenished without federal assistance; or

  (3) Has violated or is violating laws, rules or regulations, or has committed or is committing an unsafe or unsound practice, and such violation or practice is likely to cause insolvency or a substantial dissipation of assets or is likely to severely weaken the institution's condition or otherwise seriously prejudice the interests of its depositors. See Hawaii Revised Statutes 412:2-500

• Federal: means belonging to, part of, or related to the government of the United States of America. See Hawaii Revised Statutes 412:1-109
• Financial institution: means a Hawaii financial institution, and unless the context indicates otherwise, a federal financial institution or foreign financial institution. See Hawaii Revised Statutes 412:1-109