Terms Used In Hawaii Revised Statutes > Chapter 412 > Article 8 > Part I - General Provisions

• 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}
• Case law: The law as laid down in cases that have been decided in the decisions of the courts.
• 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.
• 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.
• Department: means the department of agriculture. See Hawaii Revised Statutes 150A-2
• 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
• 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
• Farm land: means land used for agricultural purposes, including general farming, cane growing, fruit growing, flower growing, grazing, dairying, the production of any form of livestock or poultry, and any other form of agricultural activity. See Hawaii Revised Statutes 155-1
• 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
• Food manufacturers: means entities that process Hawaii-grown agricultural products or that utilize Hawaii-grown agricultural products as an ingredient in the manufacturing process. See Hawaii Revised Statutes 155-1
• Grantor: The person who establishes a trust and places property into it.
• 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 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
• Motor vehicle: has the meaning prescribed by § 286-2 and includes trailers and semitrailers designed for use by such vehicles, but does not include road rollers, farm tractors, tractor cranes, power shovels, and well drillers;

  "Nonresident" means every person who is not a resident of the State;

  "Nonresident's operating privilege" means the privilege conferred upon a nonresident by laws of the State pertaining to the operation by the nonresident of a motor vehicle, or the use of a motor vehicle owned by the nonresident in this State;

  "Owner" or "registered owner" has the meaning prescribed by § 286-2 to the term "owner";

  "Proof of financial responsibility" means proof of ability to respond in damages for liability, on account of accidents occurring subsequent to the effective date of such proof, arising out of the ownership, maintenance, or use of a motor vehicle, in the amounts prescribed by section 294-10(a);

  "Registration" means the certificate of registration issued pursuant to chapter 286;

  "State" except in reference to the State of Hawaii means any state, territory, or possession of the United States, the District of Columbia, or any province of the Dominion of Canada. See Hawaii Revised Statutes 287-1

• motor vehicle liability policy: as used in this chapter means an owner's or a driver's policy of liability insurance, certified as provided in § 287-22 or § 287-23 as proof of financial responsibility, and issued, except as otherwise provided in § 287-23, by an insurance carrier duly authorized to transact business in the State, to or for the benefit of the person named therein as insured. See Hawaii Revised Statutes 287-24
• New farmer: means a new farm enterprise or a person, who by reason of ability, experience, and training, is likely to successfully operate a farm and who otherwise meets the eligibility requirements of § 155-10 and includes any of the following:

  (1) Persons displaced from employment in an agricultural production enterprise;

  (2) College graduates in agriculture;

  (3) Community college graduates in agriculture;

  (4) Members of the Hawaii Young Farmer Association and National FFA Organization graduates with farming projects;

  (5) Persons who have not less than two years' experience as part-time farmers;

  (6) Graduates from farm trainee programs designed to provide interns with the necessary hands-on skills and management training to successfully operate their own farm;

  (7) Persons who have been farm tenants or farm laborers; or

  (8) Other individuals who have for the two years last preceding their application obtained the major portion of their income from farming operations. See Hawaii Revised Statutes 155-1

• 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
• Pest: means any animal, insect, disease agent or other organism in any stage of development that is detrimental or potentially harmful to agriculture, or horticulture, or animal or public health, or natural resources including native biota or has an adverse effect on the environment as determined by the board. See Hawaii Revised Statutes 150A-2
• 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.
• 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.
• Subsidiary: means a corporation, joint venture, partnership, or other company that is controlled by another corporation. See Hawaii Revised Statutes 412:1-109
• this State: means the State of Hawaii, its political subdivisions, agencies, and departments. See Hawaii Revised Statutes 412:1-109
• Trustee: A person or institution holding and administering property in trust.