Terms Used In Hawaii Revised Statutes 554B-4

• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Beneficiary: means an individual for whom property has been delivered to a custodial trustee for the individual's use and benefit under this chapter. See Hawaii Revised Statutes 554B-1
• Custodial trust property: means an interest in property transferred to a custodial trustee under this chapter and the income from and proceeds of that interest. See Hawaii Revised Statutes 554B-1
• Custodial trustee: means a person designated as trustee of a custodial trust under this chapter and includes a substitute or successor custodial trustee. See Hawaii Revised Statutes 554B-1
• Incapacitated: means that an individual lacks the ability to manage property and business affairs effectively by reason of mental illness, mental deficiency, physical illness or disability, chronic use of drugs, chronic intoxication, confinement, detention by a foreign power, disappearance, minority, or other cause. See Hawaii Revised Statutes 554B-1
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Person: means an individual, corporation, organization, or other legal entity. See Hawaii Revised Statutes 554B-1
• State: means a state, commonwealth, territory, or possession of the United States, or the District of Columbia. See Hawaii Revised Statutes 554B-1
• Trustee: A person or institution holding and administering property in trust.