Terms Used In Hawaii Revised Statutes > Chapter 206E > Part IX - Stadium Development District

• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Appraisal: A determination of property value.
• Approved continuing education course: means a course approved by the commissioner following receipt of recommendations from insurance professionals. See Hawaii Revised Statutes 431:9A-102
• Authority: means the Hawaii community development authority established by section 206E-3. See Hawaii Revised Statutes 206E-2
• Class: means the general categories of insurance, as set forth in §§ 431:1-204 to 431:1-210, in which insurers may be authorized to transact the business of insurance. See Hawaii Revised Statutes 431:9A-102
• Commissioner: means the insurance commissioner. See Hawaii Revised Statutes 431:9A-102
• 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 any county of the State. See Hawaii Revised Statutes 206E-2
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• District: means the stadium development district established by this part. See Hawaii Revised Statutes 206E-222
• Individual: means a natural person. See Hawaii Revised Statutes 431:9A-102
• 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.
• License: means a document issued by the commissioner authorizing a person to act as an insurance producer for the lines of authority specified in the document. See Hawaii Revised Statutes 431:9A-102
• Limited line credit insurance: includes credit life, credit disability, credit property, credit unemployment, involuntary unemployment, mortgage life, mortgage guaranty, mortgage disability, guaranteed automobile protection ("gap") insurance, and any other form of insurance offered in connection with an extension of credit, that is limited to partially or wholly extinguishing that credit obligation that the commissioner determines should be designated a form of limited line of credit insurance. See Hawaii Revised Statutes 431:9A-102
• Limited lines insurance: means those lines of insurance a producer may be licensed to sell pursuant to section 431:9A-107. See Hawaii Revised Statutes 431:9A-102
• Line of authority: means a category of insurance products, as set forth in section 431:9A-107(a), which an insurance producer may be licensed to sell pursuant to this article. See Hawaii Revised Statutes 431:9A-102
• Line of insurance: means an insurance product, contract, or policy designed to cover specified risks that fall within one or more of the classes or types of insurance as defined in §§ 431:1-204 to 431:1-211, the lines of authority defined in section 431:9A-107(a), or any other section of this code. See Hawaii Revised Statutes 431:9A-102
• month: means a calendar month; and the word "year" a calendar year. See Hawaii Revised Statutes 1-20
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Negotiate: means the act of conferring directly with or offering advice directly to a purchaser or prospective purchaser of a particular contract of insurance concerning any of the substantive benefits, terms, or conditions of the contract; provided that the person engaged in the act either sells insurance or obtains insurance from insurers for producers. See Hawaii Revised Statutes 431:9A-102
• 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.
• 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.
• producer: means a person required to be licensed under the laws of this State to sell, solicit, or negotiate insurance. See Hawaii Revised Statutes 431:9A-102
• Project: means a specific work or improvement, including real and personal properties, or any interest therein, acquired, owned, constructed, reconstructed, rehabilitated, or improved by the authority, including a commercial project, a redevelopment project, or a residential project, all as defined as follows, or any combination thereof, which combination shall hereinafter be called and known as a "multipurpose project". See Hawaii Revised Statutes 206E-2
• Public adjuster: means an adjuster employed by and solely representing the financial interests of the insured named in the policy. See Hawaii Revised Statutes 431:9-105
• Public facilities: includes streets, utility and service corridors, and utility lines where applicable, sufficient to adequately service developable improvements in the district, sites for schools, parks, parking garage, sidewalks, pedestrian ways, and other community facilities. See Hawaii Revised Statutes 206E-2
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Sell: means to exchange a contract of insurance by any means, for money or its equivalent, on behalf of an insurance company. See Hawaii Revised Statutes 431:9A-102
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Solicit: means attempting to sell insurance or asking or urging a person to apply for a particular kind of insurance from a particular company. See Hawaii Revised Statutes 431:9A-102
• stadium authority: means the stadium authority established pursuant to section 109-1. See Hawaii Revised Statutes 206E-222
• Terminate: means :
  (1) To cancel the relationship between an insurance producer and an insurer; or
  (2) To terminate a producer's authority to transact insurance. See Hawaii Revised Statutes 431:9A-102
• Trade name: means any name used by an insurance producer to solicit insurance business in this State if the true legal name of an individual or a business entity cannot be used. See Hawaii Revised Statutes 431:9A-102
• Uniform application: means the current version of National Association of Insurance Commissioners' uniform application for resident and nonresident producer licensing. See Hawaii Revised Statutes 431:9A-102
• Uniform business entity application: means the current version of National Association of Insurance Commissioners' uniform business entity application for resident and nonresident business entities. See Hawaii Revised Statutes 431:9A-102