Terms Used In Hawaii Revised Statutes > Chapter 161 > Part I - General Provisions

• Commissioner: means the commissioner of financial institutions of this State. See Hawaii Revised Statutes 412:1-109
• Contract: A legal written agreement that becomes binding when signed.
• 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, Kauai, and Maui, and the city and county of Honolulu. See Hawaii Revised Statutes 291J-1
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{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.
• photo red light imaging detector system: means a device, or combination of devices, used for traffic enforcement pursuant to section 291C-32(c), that includes a vehicle sensor working in conjunction and synchronization with a traffic-control signal and a camera , to automatically produce and record one or more sequenced photographs, microphotographs, video, or other recorded images of the rear of the motor vehicle and motor vehicle license plate, at the time the motor vehicle fails to stop when facing a steady red traffic-control signal. See Hawaii Revised Statutes 291J-1
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Summons: Another word for subpoena used by the criminal justice system.
• Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.