Terms Used In Hawaii Revised Statutes > Chapter 26H - Hawaii Regulatory Licensing Reform Act

• Agency: when used in reference to an office of a foreign bank, shall have the same meaning as is set forth in section 1(b)(1) of the federal International Banking Act (12 U. See Hawaii Revised Statutes 412:13-102
• Agriculture: means the production for consumption within the State and exporting of plant and animal life on land and within ponds and other bodies of water for food, fiber, and raw materials for value-added products, and any agricultural enterprise or enterprises organized for the production of agricultural materials or value-added products based on detailed marketing analysis and strategies to exploit profitable potentials in local, national, and international markets, including general farming, cane growing, fruit growing, flower growing, aquaculture, growing of timber and forest products, apiary, grazing, dairying, and the production of any form of livestock or poultry, and their appurtenant services and facilities. See Hawaii Revised Statutes 163D-2
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Amortization: Paying off a loan by regular installments.
• 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.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Applicant governing board: means the initial governing board that is:

  (1) Established by an eligible group or entity to submit a charter application pursuant to section 302D-13; and

  (2) Not subject to section 302D-12. See Hawaii Revised Statutes 302D-1

• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Arrest: Taking physical custody of a person by lawful authority.
• Articles of incorporation: include amended and restated articles of incorporation and articles of merger. See Hawaii Revised Statutes 414-3
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• At-risk children: means children who, because of their home and community environment, are subject to language, cultural, economic, and other disadvantages that cause them to be at risk for school failure, including children:

  (1) Who are placed through their individualized education programs in a general education setting;

  (2) Who are English as a second language learners;

  (3) Who are in foster care;

  (4) Who are homeless; or

  (5) Whose family income is no more than three hundred per cent of the federal poverty level. See Hawaii Revised Statutes 302L-1

• Authorized shares: means the shares of all classes a domestic corporation is authorized to issue. See Hawaii Revised Statutes 414-3
• Authorizer: means an entity established under this chapter with chartering authority to review charter applications, decide whether to approve or deny charter applications, enter into charter contracts with applicants, oversee public charter schools, and decide whether to authorize, renew, deny renewal of, or revoke charter contracts. See Hawaii Revised Statutes 302D-1
• Bank: means any bank as defined in: section 2(c) of the Bank Holding Company Act (12 U. See Hawaii Revised Statutes 412:13-102
• Bank Holding Company Act: means the federal Bank Holding Company Act of 1956, as amended (12 U. See Hawaii Revised Statutes 412:13-102
• Bank supervisory agency: means :

  (1) The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and any successor to these agencies;

  (2) Any agency of another state with primary responsibility for chartering and supervising banks; and

  (3) Any agency of a country (including any colonies, dependencies, possessions, or political subdivisions thereof) other than the United States with primary responsibility for chartering and supervising banks. See Hawaii Revised Statutes 412:13-102

• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• 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 education. See Hawaii Revised Statutes 302D-1
• Board: means the early learning board established pursuant to this chapter. See Hawaii Revised Statutes 302L-1
• Board: means the board of directors of the agribusiness development corporation. See Hawaii Revised Statutes 163D-2
• Board: means the board of land and natural resources. See Hawaii Revised Statutes 173A-2
• Branch: when used in reference to an office of a foreign bank, has the same meaning as is set forth in section 1(b)(3) of the federal International Banking Act (12 U. See Hawaii Revised Statutes 412:13-102
• 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
• Center-based: describes programs in which early learning services are provided in a facility, including private preschools, child care centers, and head start programs, licensed, or excluded or exempt from licensing, by the department of human services. See Hawaii Revised Statutes 302L-1
• charter: means a fixed-term, bilateral, renewable contract between a public charter school and an authorizer that outlines the roles, powers, responsibilities, and performance expectations for each party to the contract. See Hawaii Revised Statutes 302D-1
• Charter application: means a proposal from an applicant to an authorizer to enter into a charter contract whereby the proposed school obtains public charter school status. See Hawaii Revised Statutes 302D-1
• Circuit court: means the court established in each of the judicial circuits of this State pursuant to chapter 603 and which has jurisdiction under § 412:1-108 over a matter. See Hawaii Revised Statutes 412:1-109
• Commission: means the state public charter school commission established pursuant to [section] 302D-3 as a statewide authorizer. See Hawaii Revised Statutes 302D-1
• Commission: means the legacy land conservation commission. See Hawaii Revised Statutes 173A-2
• 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
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Concurrent resolution: A legislative measure, designated "S. Con. Res." and numbered consecutively upon introduction, generally employed to address the sentiments of both chambers, to deal with issues or matters affecting both houses, such as a concurrent budget resolution, or to create a temporary joint committee. Concurrent resolutions are not submitted to the President/Governor and thus do not have the force of law.
• Conservator: means a person appointed by the commissioner to take possession and control of a Hawaii financial institution for a temporary period in order to preserve and protect the assets of the institution for the benefit of its depositors, beneficiaries, creditors, and shareholders or members. See Hawaii Revised Statutes 412:1-109
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• Control: shall be construed consistently with the provisions of section 2(a)(2) of the Bank Holding Company Act (12 U. See Hawaii Revised Statutes 412:13-102
• Conversion charter school: means :

  (1) Any existing department school that converts to a charter school and is managed and operated in accordance with section 302D-13; or

  (2) Any existing department school that converts to a charter school and is managed and operated by a nonprofit organization in accordance with section 302D-13. See Hawaii Revised Statutes 302D-1

• Conviction: A judgement of guilt against a criminal defendant.
• Coordinating entrepreneur: means a qualified person capable of organizing, operating, and assuming the risk for enterprises that may include securing land and seed capital, locating farmers, arranging right-to-till agreements, supplying materials, maintaining equipment and infrastructure, and providing for the processing and marketing of products. See Hawaii Revised Statutes 163D-2
• 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.
• Corporation: means the agribusiness development corporation. See Hawaii Revised Statutes 163D-2
• county: includes the city and county of Honolulu. See Hawaii Revised Statutes 1-22
• Coventure: means an investment by the corporation in qualified securities of an enterprise in which a substantial investment is also being made or has been made by a professional investor to provide seed capital to an enterprise. See Hawaii Revised Statutes 163D-2
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Deliver: includes mail. See Hawaii Revised Statutes 414-3
• Department: means the department of education. See Hawaii Revised Statutes 302D-1
• Department: means the department of land and natural resources. See Hawaii Revised Statutes 173A-2
• Department director: means the director of commerce and consumer affairs, unless the context otherwise requires. See Hawaii Revised Statutes 414-3
• Department school: means any school that falls within the definition of "public schools" as defined in § 302A-101 and that is not a charter school. See Hawaii Revised Statutes 302D-1
• Dependent: A person dependent for support upon another.
• Depository institution: means a financial institution that is authorized to accept deposits under its chartering or licensing authority and includes a bank, savings bank, savings and loan association, depository financial services loan company, credit union, or intra-Pacific bank. See Hawaii Revised Statutes 412:1-109
• Depository institution: means any institution that is included for any purpose within the definitions of "insured depository institution" as set forth in section 3(c)(2) and (3) of the Federal Deposit Insurance Act (12 U. See Hawaii Revised Statutes 412:13-102
• 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
• Direct investment: means an investment by the corporation in qualified securities of an enterprise in which no investment is being or has been made by a professional investor to provide seed capital to the enterprise. See Hawaii Revised Statutes 163D-2
• Director: means the director of commerce and consumer affairs. See Hawaii Revised Statutes 26H-3
• 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
• Distribution: means a direct or indirect transfer of money or other property (except its own shares) or incurrence of indebtedness by a corporation to or for the benefit of its shareholders in respect of any of its shares. See Hawaii Revised Statutes 414-3
• Early learning: means developmentally appropriate early childhood development and education for children from prenatal care until the time they enter kindergarten. See Hawaii Revised Statutes 302L-1
• Early learning system: means a developmentally appropriate early childhood development and education system for children from prenatal care until the time they enter kindergarten. See Hawaii Revised Statutes 302L-1
• Electronic transmission: means any form of communication, not directly involving the physical transmission of paper, that creates a record that may be retained, retrieved, and reviewed by a recipient thereof, and that may be directly reproduced in paper form by such a recipient through an automated process. See Hawaii Revised Statutes 414-3
• Enterprise: means a business with its principal place of business in Hawaii, which is, or proposes to be, engaged in agricultural crop development, development of new value-added products, enhancement of existing agricultural commodities, and the application of existing agricultural appurtenant facilities to productive uses; provided that the majority of whatever the corporation produces shall be produced for export. See Hawaii Revised Statutes 163D-2
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• 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.
• Ex officio: Literally, by virtue of one's office.
• Executive director: means the executive director of the state public charter school commission. See Hawaii Revised Statutes 302D-1
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Family engagement: means practices that engage families in recognition of the need for families to actively support their child's learning and development, including classrooms that make families feel welcome, communication with families on an ongoing basis, the promotion of responsible parenting, and involvement in decisions that affect families and their children. See Hawaii Revised Statutes 302L-1
• Federal: means belonging to, part of, or related to the government of the United States of America. See Hawaii Revised Statutes 412:1-109
• Federal agency: means an agency of a foreign bank that is licensed by the Comptroller of the Currency pursuant to section 4 of the federal International Banking Act (12 U. See Hawaii Revised Statutes 412:13-102
• Federal branch: means a branch of a foreign bank that is licensed by the Comptroller of the Currency pursuant to section 4 of the federal International Banking Act (12 U. See Hawaii Revised Statutes 412:13-102
• Federal Deposit Insurance Act: means the Federal Deposit Insurance Act, as amended (12 U. See Hawaii Revised Statutes 412:13-102
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Fiduciary: A trustee, executor, or administrator.
• 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 bank: means any company organized under the laws of a foreign country, a territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands, that engages directly in the business of banking. See Hawaii Revised Statutes 412:13-102
• Fraud: Intentional deception resulting in injury to another.
• Fund: means the Hawaii agricultural development revolving fund. See Hawaii Revised Statutes 163D-2
• Governing board: means the independent board of a public charter school that is party to the charter contract with the authorizer that:

  (1) Is responsible for the financial, organizational, and academic viability of the charter school and implementation of the charter;

  (2) Possesses the independent authority to determine the organization and management of the school, the curriculum, and virtual education;

  (3) Has the power to negotiate supplemental collective bargaining agreements with exclusive representatives of their employees and is considered the employer of charter school employees for purposes of chapters 76, 78, and 89; and

  (4) Ensures compliance with applicable state and federal laws. See Hawaii Revised Statutes 302D-1

• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Hawaii bank: means a Hawaii state bank or a Hawaii national bank. See Hawaii Revised Statutes 412:13-102
• Hawaii representative office: means a representative office that is located in this State. See Hawaii Revised Statutes 412:13-102
• Hawaii state agency: when used in reference to an office of a foreign bank, means an agency of a foreign bank that is located in this State and licensed pursuant to this chapter, part II, of this article. See Hawaii Revised Statutes 412:13-102
• Hawaii state bank: means a bank organized under the laws of Hawaii. See Hawaii Revised Statutes 412:13-102
• Hawaii state branch: when used in reference to an office of a foreign bank, means a branch of a foreign bank that is located in this State and licensed pursuant to this chapter, part II, of this article. See Hawaii Revised Statutes 412:13-102
• Holding company: means any company which controls another company. See Hawaii Revised Statutes 412:1-109
• Home-based instruction program: means a family-involvement, school-readiness program that helps families prepare their child for success in school and beyond, and that is based in the child's home; provided that home schooling is not a home-based instruction program. See Hawaii Revised Statutes 302L-1
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Insolvency: means , with respect to a financial institution, that the value of its assets is insufficient to pay its depositors and its creditors. See Hawaii Revised Statutes 412:1-109
• Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
• 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}
• Interstate Banking and Branching Efficiency Act: means the federal Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, Public Law No. See Hawaii Revised Statutes 412:13-102
• Interstate branch: means a branch of a bank or a branch of a foreign bank, as the context may require, which is established after September 29, 1994, pursuant to the authority contained in the Interstate Banking and Branching Efficiency Act, outside the home state of the bank or foreign bank. See Hawaii Revised Statutes 412:13-102
• Joint session: When both chambers of a legislature adopt a concurrent resolution to meet together.
• 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.
• Land: means the earth, water, and air, above, below, or on the surface, and includes easements and rights in land, and any improvement on land. See Hawaii Revised Statutes 173A-2
• 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}
• Legacy: A gift of property made by will.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Limited branch: means a branch of a foreign bank that accepts only those deposits as would be permissible for a corporation organized under section 25A of the Federal Reserve Act in accordance with section 5(a)(7) of the federal International Banking Act (12 U. See Hawaii Revised Statutes 412:13-102
• 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.
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) ^{Source: OCC}
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• Nonprofit organization: means a private, nonprofit, tax-exempt entity that:

  (1) Is recognized as a tax-exempt organization under the Internal Revenue Code; and

  (2) Is registered to do business in this State in accordance with chapter 414D. See Hawaii Revised Statutes 302D-1

• 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.
• Office: means the executive office on early learning established pursuant to this chapter. See Hawaii Revised Statutes 302L-1
• Organizational viability: means that a charter school:

  (1) Has been duly constituted and operates in accordance with its charter;

  (2) Has a governing board established in accordance with law and the charter school's charter;

  (3) Employs sufficient faculty and staff to provide the necessary educational program and support services to operate the facility in accordance with its charter;

  (4) Maintains accurate and comprehensive records regarding students and employees as determined by its authorizer;

  (5) Meets appropriate standards of student achievement as defined by the board pursuant to its duties under article X, section 3, of the Constitution of the State of Hawaii;

  (6) Cooperates with board and authorizer requirements in conducting its functions;

  (7) Complies with applicable federal, state, and county laws and requirements;

  (8) In accordance with authorizer guidelines and procedures, is financially sound and fiscally responsible in its use of public funds, maintains accurate and comprehensive financial records, operates in accordance with generally accepted accounting practices, and maintains a sound financial plan;

  (9) Operates within the scope of its charter contract and fulfills obligations and commitments of its charter;

  (10) Complies with all health and safety laws and requirements;

  (11) Complies with all authorizer directives, policies, and procedures; and

  (12) Complies with all board policies deemed applicable to charter schools by the board. See Hawaii Revised Statutes 302D-1

• Out-of-state bank: means a bank, the home state of which is a state other than Hawaii. See Hawaii Revised Statutes 412:13-102
• Out-of-state foreign bank: means a foreign bank, the home state of which is a state other than Hawaii. See Hawaii Revised Statutes 412:13-102
• Outlays: Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations. Outlays during a fiscal year may be for payment of obligations incurred in prior years or in the same year.
• Oversight: Committee review of the activities of a Federal agency or program.
• 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 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
• Person: includes individual and entity. See Hawaii Revised Statutes 414-3
• Personal property: All property that is not real property.
• Pre-opening charter school: means a charter school that has not yet satisfactorily fulfilled the authorizer's pre-opening assurance as required under section 302D-14. See Hawaii Revised Statutes 302D-1
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Principal office: means the office (in or out of this State) so designated in the annual report where the principal executive offices of a domestic or foreign corporation are located. See Hawaii Revised Statutes 414-3
• Principal shareholder: means a person other than a financial institution, that, directly or indirectly, or acting through or in concert with another, owns, controls, or has the power to vote more than ten per cent of any class of voting securities of a financial institution. See Hawaii Revised Statutes 412:1-109
• Professional investor: means any bank, bank holding company, savings institution, farm credit institution, trust company, insurance company, investment company registered under the federal Investment Company Act of 1940, financial services loan company, pension or profit-sharing trust or other financial institution or institutional buyer, licensee under the federal Small Business Investment Act of 1958, or any person, partnership, or other entity of whose resources, a substantial amount is dedicated to investing in securities or debt instruments, and whose net worth exceeds $250,000. See Hawaii Revised Statutes 163D-2
• Project: means a specific undertaking, improvement, or system consisting of work or improvement, including personal property or any interest therein, acquired, constructed, reconstructed, rehabilitated, improved, altered, or repaired by the corporation. See Hawaii Revised Statutes 163D-2
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• public charter school: refers to those public schools and their respective governing boards, as defined in this section, that are holding current charter contracts to operate as charter schools under this chapter, including start-up and conversion charter schools, and that have the flexibility and independent authority to implement alternative frameworks with regard to curriculum, facilities management, instructional approach, virtual education, length of the school day, week, or year, and personnel management. See Hawaii Revised Statutes 302D-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.
• Qualified person: includes any individual, partnership, corporation, or public agency possessing the competence, expertise, experience, and resources, including financial, personnel, and tangible qualifications, as may be deemed desirable by the corporation in administering this chapter. See Hawaii Revised Statutes 163D-2
• Quorum: The number of legislators that must be present to do business.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Receiver: means a person appointed by the commissioner to take possession and control of a Hawaii financial institution for the purpose of liquidating and winding up the affairs of the institution. See Hawaii Revised Statutes 412:1-109
• Record date: means the date established under part [VII or VIII] of this chapter on which a corporation determines the identity of its shareholders and their shareholdings for purposes of this chapter. See Hawaii Revised Statutes 414-3
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Related interest: means

  (1) a company that is controlled by a person or

  (2) a political or campaign committee that is controlled by a person or the funds or services of which will benefit a person. See Hawaii Revised Statutes 412:1-109

• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Repeal date: means the effective date of repeal established for various chapters by § 26H-4. See Hawaii Revised Statutes 26H-3
• Revenue bonds: means bonds, notes, or other evidence of indebtedness of the corporation issued to finance any project facility. See Hawaii Revised Statutes 163D-2
• Secretary: means the corporate officer to whom the board of directors has delegated responsibility under section 414-231(c) for preparation and custody of the minutes of the meetings of the board of directors and of the shareholders and for authenticating records of the corporation. See Hawaii Revised Statutes 414-3
• Seed capital: means financing that is provided for the development, refinement, and commercialization of a product or process and other working capital needs. See Hawaii Revised Statutes 163D-2
• Service of process: The service of writs or summonses to the appropriate party.
• Shareholder: means the person in whose name shares are registered in the records of a corporation or the beneficial owner of shares to the extent of the rights granted by a nominee certificate on file with a corporation. See Hawaii Revised Statutes 414-3
• Shares: means the units into which the proprietary interests in a corporation are divided. See Hawaii Revised Statutes 414-3
• Start-up charter school: means a new charter school established under section 302D-13 that is not a conversion charter school. See Hawaii Revised Statutes 302D-1
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• Subpoena duces tecum: A command to a witness to produce documents.
• Subscriber: means a person who subscribes for shares in a corporation, whether before or after incorporation. See Hawaii Revised Statutes 414-3
• Subsidiary: means a corporation, joint venture, partnership, or other company that is controlled by another corporation. See Hawaii Revised Statutes 412:1-109
• Summons: Another word for subpoena used by the criminal justice system.
• surplus: includes retained earnings, whether or not transferred or allocated to surplus. See Hawaii Revised Statutes 412:1-109
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• this State: means the State of Hawaii, its political subdivisions, agencies, and departments. See Hawaii Revised Statutes 412:1-109
• 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.
• Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trust indenture: means an agreement by and between the corporation and a trustee that sets forth the duties of the trustee with respect to the revenue bonds, the security thereof, and other provisions as may be deemed necessary or convenient by the corporation to secure the revenue bonds. See Hawaii Revised Statutes 163D-2
• Trustee: A person or institution holding and administering property in trust.
• Trustee: means a national or state bank or trust company, within or outside the State, that enters into a trust indenture. See Hawaii Revised Statutes 163D-2
• Underserved children: means children who have no access to, or are not qualified to attend, other early learning programs and whose family income is no more than three hundred per cent of the federal poverty level. See Hawaii Revised Statutes 302L-1
• United States: when used in a geographical sense, means the several states, the District of Columbia, Puerto Rico, Guam, American Samoa, the American Virgin Islands, the Trust Territory of the Pacific Islands, and any other territory of the United States; and, when used in a political sense, means the federal government of the United States. See Hawaii Revised Statutes 412:13-102
• Value-added: means any activity that increases, by means of processing or any other means, the value of raw agricultural materials. See Hawaii Revised Statutes 163D-2
• Voting group: means all shares of one or more classes or series that under the articles of incorporation or this chapter are entitled to vote and be counted together collectively on a matter at a meeting of shareholders. See Hawaii Revised Statutes 414-3