Hawaii Revised Statutes 477E-2 – Definitions
Terms Used In Hawaii Revised Statutes 477E-2
- 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.
- Credit: means the loan of money, or the right granted by a creditor to a debtor to defer payment of debt, or to incur debts and defer payment therefor, or to purchase property or services and defer payment therefor. See Hawaii Revised Statutes 477E-2
- Creditor: means any bank; savings and loan association; trust company; financial services loan company; credit union; mortgage loan originator; mortgage loan originator company; pawnbroker; mutual benefit society or fraternal benefit society; debt adjuster; the issuer of a credit card as defined in § 708-800; any person who initiates, extends, renews, or continues loans of money or credit; any person who regularly arranges for the initiation, extension, renewal, or continuation of a loan of money or credit; or any assignee of an original creditor who participates in the decision to grant, extend, renew, or to continue a loan of money or credit. See Hawaii Revised Statutes 477E-2
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
- 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.
- Person: means a natural person, a corporation, government or governmental subdivision or agency, a trust, estate, partnership, cooperative, or association. See Hawaii Revised Statutes 477E-2
As used in this chapter:
“Applicant” means any person who initially applies to a creditor directly for a loan or credit, or who directly applies to a creditor for an extension, renewal, or continuation of credit, or applies to a creditor indirectly by use of an existing credit plan for an amount exceeding a previously established credit limit.
“Credit” means the loan of money, or the right granted by a creditor to a debtor to defer payment of debt, or to incur debts and defer payment therefor, or to purchase property or services and defer payment therefor.
“Creditor” means any bank; savings and loan association; trust company; financial services loan company; credit union; mortgage loan originator; mortgage loan originator company; pawnbroker; mutual benefit society or fraternal benefit society; debt adjuster; the issuer of a credit card as defined in § 708-800; any person who initiates, extends, renews, or continues loans of money or credit; any person who regularly arranges for the initiation, extension, renewal, or continuation of a loan of money or credit; or any assignee of an original creditor who participates in the decision to grant, extend, renew, or to continue a loan of money or credit.
“Person” means a natural person, a corporation, government or governmental subdivision or agency, a trust, estate, partnership, cooperative, or association.