Terms Used In Hawaii Revised Statutes > Chapter 412 > Article 1 - General Provisions

• 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.
• 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.
• Appropriate federal regulatory agency: means , with respect to a financial institution or financial institution holding company, any one or more regulatory agencies of the federal government referred to in the following sentence which either (1) insures the deposits of the financial institution or financial institution holding company, or (2) has the power and duty to conduct periodic general examinations of the affairs of the financial institution or financial institution holding company by virtue of the legal characterization of the financial institution or financial institution holding company under federal law, and not by virtue of the fact of affiliation of the financial institution or financial institution holding company with any other person or an alleged violation of a specific law. See Hawaii Revised Statutes 412:1-109
• 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}
• 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: means any center organized as an independent nonprofit educational corporation duly established under the laws of this State, whose principal purpose is to facilitate the resolution of international business, trade, commercial, and other disputes between persons by means of arbitration, mediation, conciliation, and other means as an alternative to the resort to litigation. See Hawaii Revised Statutes 658D-5
• 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
• Commissioner: means the commissioner of financial institutions of this State. See Hawaii Revised Statutes 412:1-109
• Common stock: means all capital stock of a financial institution or other corporation that is not preferred stock. 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.
• Contractual commitment to advance funds: means

  (1) an obligation to make payments, directly or indirectly, to a third party contingent upon default by the financial institution's customer in the performance of an obligation under the terms of that customer's contract with the third party or upon some other stated condition, or

  (2) an obligation to guarantee or stand as surety for the benefit of a third party. See Hawaii Revised Statutes 412:1-109

• 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.
• Counterclaim: A claim that a defendant makes against a plaintiff.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• 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
• 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
• Devise: To gift property by will.
• 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
• Division: means the division of financial institutions of the department of commerce and consumer affairs of this State. See Hawaii Revised Statutes 412:1-109
• 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.
• 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 financial institution: means a national banking association, federal savings bank, federal savings and loan association or federal credit union. See Hawaii Revised Statutes 412:1-109
• Federal Home Loan Bank: means a federal home loan bank created and organized under the authority of the Federal Home Loan Bank Act. See Hawaii Revised Statutes 412:1-109
• Federal Reserve Bank: means a federal reserve bank created and organized under the authority of the Federal Reserve Act. See Hawaii Revised Statutes 412:1-109
• Federal Reserve Board: means the Board of Governors of the Federal Reserve System created and described in the Federal Reserve Act. See Hawaii Revised Statutes 412:1-109
• 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
• Financial institution holding company: means a holding company which controls a Hawaii financial institution or which controls another financial institution holding company. See Hawaii Revised Statutes 412:1-109
• 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
• Fraud: Intentional deception resulting in injury to another.
• 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
• immediate family: means the spouse of an individual, the individual's minor children, and any of the individual's children (including adults) residing in the individual's home. See Hawaii Revised Statutes 412:1-109
• In concert with another: means

  (1) knowing participation in a joint activity or interdependent conscious parallel action towards a common goal whether or not pursuant to an express agreement; or

  (2) a combination or pooling of voting or other interests in the securities of an issuer for a common purpose pursuant to any contract, understanding, relationship, agreement, or other arrangement, whether written or otherwise. 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}
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• 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}
• 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.
• Obligation: means any bond, debt, debenture, loan, note or similar undertaking. See Hawaii Revised Statutes 412:1-109
• 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.
• Passbook: means any book, statement of account, or other record used by a financial institution to record deposits, withdrawals, interest, dividends and changes. See Hawaii Revised Statutes 412:1-109
• Person: means not only individuals, but corporations, firms, associations, societies, communities, assemblies, inhabitants of a district, or neighborhood, or persons known or unknown, and the public generally and shall include a government or any agency, instrumentality, or subdivision thereof where it appears, from the subject matter, the sense and connection in which such words are used, that such construction is intended. See Hawaii Revised Statutes 658D-5
• 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
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• 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
• 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.
• this State: means the State of Hawaii, its political subdivisions, agencies, and departments. See Hawaii Revised Statutes 412:1-109
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.