Terms Used In Hawaii Revised Statutes 425-152

• Director: means the director of commerce and consumer affairs. See Hawaii Revised Statutes 425-101
• Limited liability partnership: means a partnership that has filed a statement of qualification under section 425-152 and does not have a similar statement in effect in any other jurisdiction. See Hawaii Revised Statutes 425-101
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Partnership: means an association of two or more persons to carry on as co-owners a business for profit formed under § 425-109, a predecessor law, or comparable law of another jurisdiction. See Hawaii Revised Statutes 425-101
• Partnership agreement: means the agreement, whether written, oral, or implied, among the partners concerning the partnership, including amendments to the partnership agreement. See Hawaii Revised Statutes 425-101
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Statement: means a registration or annual statement filed under § 425-1, a statement of correction filed under section 425-1. See Hawaii Revised Statutes 425-101