Terms Used In Hawaii Revised Statutes > Chapter 414E - Control Share Acquisitions

• Acquiring person: means a person who is required to deliver an information statement. See Hawaii Revised Statutes 414E-1
• Control share acquisition: means an acquisition of shares of an issuing public corporation resulting in beneficial ownership by an acquiring person of a new range of voting power specified in this chapter, but does not include an acquisition:

  (1) Before or pursuant to an agreement entered into before July 1, 1987;

  (2) By a donee pursuant to an inter vivos gift not made to avoid this chapter or by a distributee as defined in chapter 560;

  (3) Pursuant to a security agreement not created to avoid this chapter;

  (4) Pursuant to a merger or share exchange executed in accordance with applicable law, if the issuing public corporation is a party to the plan of merger or share exchange;

  (5) From the issuing public corporation;

  (6) That is approved by resolution of the board of directors of the issuing public corporation before the acquisition occurs; or

  (7) That the board of directors of the issuing public corporation determines, by resolution before the acquisition occurs, is not a control share acquisition. See Hawaii Revised Statutes 414E-1

• Donee: The recipient of a gift.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Inter vivos: Transfer of property from one living person to another living person.
• Issuing public corporation: means a corporation incorporated in this State with at least one hundred shareholders and having its principal place of business or substantial assets located in this State. See Hawaii Revised Statutes 414E-1