Terms Used In Hawaii Revised Statutes > Chapter 148 - Advertising and Marketing

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Board: means the board of trustees of the Hawaii employer-union health benefits trust fund described in § 87A-5. See Hawaii Revised Statutes 87A-1
• Capital: means :

  (1) The aggregate par value or other amount received and allocated to the issued and outstanding capital stock of a financial institution; or

  (2) The total amount of a credit union's outstanding and unimpaired membership shares or share accounts. See Hawaii Revised Statutes 412:1-109

• Capital stock: means the units of interest, whether or not having a par value, common or preferred, legally issued by a financial institution or other corporation, which represents a fractional ownership interest in the institution or corporation. See Hawaii Revised Statutes 412:1-109
• Carrier: means a voluntary association, corporation, partnership, or organization engaged in providing, paying for, arranging for, or reimbursing the cost of, health benefits or long-term care benefits under group insurance contracts. See Hawaii Revised Statutes 87A-1
• Chairperson: means chairperson of the board of agriculture or the chairperson's authorized agents. See Hawaii Revised Statutes 148-1
• Commissioner: means the commissioner of financial institutions of this State. See Hawaii Revised Statutes 412:1-109
• Company: means any corporation, partnership, trust (business or otherwise), association, joint venture, pool syndicate, unincorporated organization, or any form of business entity not specifically listed herein and, unless specifically excluded, a financial institution; provided that "company" does not mean any trust existing on July 1, 1993, which under its terms must terminate within twenty-five years, or not later than twenty-one years and ten months after the death of individuals living on the effective date of the trust. See Hawaii Revised Statutes 412:1-109
• Contract: A legal written agreement that becomes binding when signed.
• Contribution: means money payments made to the fund by the State, the counties, an employee-beneficiary, or a qualified-beneficiary. See Hawaii Revised Statutes 87A-1
• Control: means , unless the context clearly requires otherwise, directly or indirectly, solely or through another person or transaction, or in concert with another:

  (1) Owning or having the power to vote twenty-five per cent or more of any class of voting securities;

  (2) Owning or having the power to exercise twenty-five per cent or more of the votes of a mutual association, credit union, or other entity whose voting rights are not determined by voting securities;

  (3) Owning or having the power to vote ten per cent or more of any class of voting securities if:

  (A) the issuer of that class of securities has issued any class of securities under section 12 of the Securities Exchange Act of 1934, as amended; or

  (B) immediately after the acquisition, no other person will own a greater percentage of that class of voting securities;

  (4) Having the power to elect by any means a majority of the directors; or

  (5) Having the power to exercise a dominant influence over management, if so determined by the commissioner after notice and a hearing. See Hawaii Revised Statutes 412:1-109

• 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.
• County: means the counties of Hawaii, Honolulu, Kauai, and Maui, including their respective boards of water supply and other quasi-independent boards, commissions, and agencies. See Hawaii Revised Statutes 87A-1
• county: includes the city and county of Honolulu. See Hawaii Revised Statutes 1-22
• Department: means the department of agriculture. See Hawaii Revised Statutes 148-1
• deposits: means money or its equivalent received or held by a person in the usual course of business and for which it has given or is obligated to give credit, either conditionally or unconditionally, to a demand, checking, savings, time, passbook, negotiable order of withdrawal, thrift, or share account, or which is evidenced by its passbook, certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument, or a check, draft, or share draft drawn against a deposit account and certified by a person, on which the person is primarily liable. See Hawaii Revised Statutes 412:1-109
• Director: means any member of the board of directors of a financial institution, whether or not receiving compensation. See Hawaii Revised Statutes 412:1-109
• Employee: means an employee or officer of the State, county, or legislature,

  (1) Including:

  (A) An elective officer;

  (B) An officer or employee under an authorized leave of absence;

  (C) An employee of the Hawaii national guard although paid from federal funds;

  (D) A retired member of the employees' retirement system; the county pension system; or the police, firefighters, or bandsmen pension system of the State or county;

  (E) A salaried and full-time member of a board, commission, or agency appointed by the governor or the mayor of a county; and

  (F) A person employed by contract for a period not exceeding one year, where the director of human resources development, personnel services, or civil service has certified that the service is essential or needed in the public interest and that, because of circumstances surrounding its fulfillment, personnel to perform the service cannot be obtained through normal civil service recruitment procedures,

  (2) But excluding:

  (A) A designated beneficiary of a retired member of the employees' retirement system; the county pension system; or the police, firefighters, or bandsmen pension system of the State or county;

  (B) Except as allowed under paragraph (1)(F), a person employed temporarily on a fee or contract basis; and

  (C) A part-time, temporary, and seasonal or casual employee. See Hawaii Revised Statutes 87A-1

• Employee-beneficiary: means :

  (1) An employee;

  (2) The beneficiary of an employee who is killed in the performance of the employee's duty, including:

  (A) The surviving child, if there is no surviving parent who is eligible to be an employee-beneficiary and the child is unmarried and under the limiting age as defined by the board; and

  (B) The surviving spouse, if the surviving spouse does not subsequently remarry;

  (3) An employee who retired prior to 1961; and

  (4) The beneficiary of a retired member of the employees' retirement system; a county pension system; or a police, firefighters, or bandsmen pension system of the State or a county, upon the death of the retired member, including:

  (A) The surviving child, if there is no surviving parent who is eligible to be an employee-beneficiary and the child is unmarried and under the limiting age as defined by the board; and

  (B) The surviving spouse, if the surviving spouse does not subsequently remarry;

  provided that the employee, the employee's beneficiary, or the beneficiary of the deceased retired employee is deemed eligible by the board to participate in a health benefits plan or long-term care benefits plan under this chapter. See Hawaii Revised Statutes 87A-1

• Ex officio: Literally, by virtue of one's office.
• 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
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• 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}
• Foreign financial institution: means a person, other than a Hawaii financial institution or a federal financial institution whose operations are principally conducted in this State, which is authorized to engage under the laws of its jurisdiction of organization, or does engage, in the business of accepting deposits or making loans or engaging in the trust business. See Hawaii Revised Statutes 412:1-109
• Fund: means the Hawaii employer-union health benefits trust fund established in section 87A-30. See Hawaii Revised Statutes 87A-1
• Hawaii financial institution: means :

  (1) A corporation or credit union that holds a charter or license under this chapter or under prior Hawaii law, authorizing it to accept deposits, to make loans in excess of the rates permitted in chapter 478, or to engage in the business of a trust company; or

  (2) A resulting bank as defined in article 12,

  and includes a corporation or credit union existing and chartered as a Hawaii financial institution or licensed to transact business in this State on July 1, 1993. See Hawaii Revised Statutes 412:1-109

• Holding company: means any company which controls another company. See Hawaii Revised Statutes 412:1-109
• 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.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Loans and extensions of credit: includes a contractual commitment to advance funds. See Hawaii Revised Statutes 412:1-109
• Long-term care benefits plan: means :

  (1) A group insurance contract or service agreement in which a carrier agrees to provide, pay for, arrange for, or reimburse the cost of long-term care benefits as determined by the board; or

  (2) A similar schedule of benefits established by the board and provided through the fund on a self-insured basis. See Hawaii Revised Statutes 87A-1

• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Open to the public: means accessible or available to the general public during regular business hours without special permission. See Hawaii Revised Statutes 412:1-109
• Paid-in capital: means the amount of capital actually received by the financial institution for its capital stock, membership shares or share accounts, as the case may be. See Hawaii Revised Statutes 412:1-109
• Person: means a natural person, entity or organization, including without limitation an individual, corporation, joint venture, partnership, sole proprietorship, association, cooperative, estate, trust, or governmental unit. See Hawaii Revised Statutes 412:1-109
• Preferred stock: means capital stock in a financial institution or other corporation which entitles its holders to some preference or priority over the owners of common stock, usually with respect to dividends or asset distributions in liquidation. See Hawaii Revised Statutes 412:1-109
• Retained earnings: means the net income of a financial institution earned since its inception which has not been distributed to its shareholders or transferred or allocated to capital stock or surplus or, as the case may be, the accumulated deficits of the financial institution. See Hawaii Revised Statutes 412:1-109
• Stock financial institution: means a financial institution that issues shares of capital stock as evidence of fractional ownership in the institution. See Hawaii Revised Statutes 412:1-109
• surplus: includes retained earnings, whether or not transferred or allocated to surplus. See Hawaii Revised Statutes 412:1-109
• this State: means the State of Hawaii, its political subdivisions, agencies, and departments. See Hawaii Revised Statutes 412:1-109