Terms Used In Hawaii Revised Statutes > Chapter 206M > Part V > GENERAL PROVISIONS

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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}
• Board: means the board of directors of the development corporation established in section 206M-2, and any successor thereto. See Hawaii Revised Statutes 206M-1
• 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: includes the city and county of Honolulu. See Hawaii Revised Statutes 1-22
• Department: means the department of agriculture. See Hawaii Revised Statutes 155D-1
• Dependent: A person dependent for support upon another.
• Development corporation: means the Hawaii technology development corporation established by section 206M-2. See Hawaii Revised Statutes 206M-1
• Direct investment: means an investment by the corporation in qualified securities of an enterprise to provide capital to an enterprise. See Hawaii Revised Statutes 206M-1
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Economic development project: means an endeavor related to industrial, commercial, or advanced technology-based agricultural enterprise "Economic development project" shall not include that portion of an endeavor devoted to the construction of housing

  "Economic zone" means a tract of real property determined by the board as being suitable for use as building sites for projects by one or more industrial, processing, production, or manufacturing enterprises engaged in technology, including but not limited to high technology support facilities, such as greenhouses and manufacturing, value-added, processing, and packaging facilities; research; training; technical analyses; software development; pilot plant; energy development; or prototype product development. See Hawaii Revised Statutes 206M-1

• Enterprise: means a person with a place of business in Hawaii which is, or proposes to be, engaged in business in Hawaii; provided that the endeavor shall not be devoted to the sale of goods at retail, construction of housing, or tourism- related services. See Hawaii Revised Statutes 206M-1
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Executive session: A portion of the Senate's daily session in which it considers executive business.
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• 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.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Milk: means the lacteal secretion, practically free from colostrums, obtained by the milking of healthy cows or goats normally produced or marketed through the channels of the fluid milk trade or for further processing into milk products. See Hawaii Revised Statutes 155D-1
• Minority-owned businesses: means businesses at least fifty per cent owned, controlled, and managed by socially or economically disadvantaged persons. See Hawaii Revised Statutes 206M-1
• month: means a calendar month; and the word "year" a calendar year. See Hawaii Revised Statutes 1-20
• Oath: A promise to tell the truth.
• oath: includes a solemn affirmation. See Hawaii Revised Statutes 1-21
• 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.
• Person: means a sole proprietorship, partnership, joint venture, corporation, or other association of persons organized for commercial or industrial purposes. See Hawaii Revised Statutes 206M-1
• police force: includes among others, jailors, turnkeys, guards, matrons, lunas, and cooks employed in any county jail. See Hawaii Revised Statutes 88-152
• Poultry products: means chicken eggs, uncooked in shell, egg-laying chicks, meat bird chicks, pullets, broilers, fryers, and laying chicken hens. See Hawaii Revised Statutes 155D-1
• Project: means the acquisition, construction, improvement, installation, equipping, and development of any combination of land, buildings, and other improvements thereon, including, without limitation, parking facilities for use of, or to assist a technology industrial, manufacturing, or processing enterprise located within or without an econimic zone, including, without limiting the generality of the foregoing, machinery, equipment, furnishings, and apparatus that shall be deemed necessary, suitable, or useful to the enterprise. See Hawaii Revised Statutes 206M-1
• Qualified producer: means any person that at the time of application for and disbursement of funds under this chapter is in the business of producing:

  (1) Milk from a herd, located in Hawaii, of not less than ten cows or twenty-five lactating milking goats;

  (2) Poultry products from a flock, raised and located in Hawaii, of not less than thirty birds;

  (3) Pork from a herd, raised and located in Hawaii, of not less than ten sows;

  (4) Beef that is grown, slaughtered, processed, and marketed in Hawaii. See Hawaii Revised Statutes 155D-1

• Seed capital: means financing provided for the earliest stage of business development, including but not limited to developing a working prototype, preparing a business plan, performing an initial market analysis, or organizing a management team. See Hawaii Revised Statutes 206M-1
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.