Terms Used In Hawaii Revised Statutes > Chapter 421C > Part I - 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.
• Articles: means the articles of incorporation. See Hawaii Revised Statutes 421C-1
• Association: means a consumer cooperative association. See Hawaii Revised Statutes 421C-1
• Consumer cooperative association: means a group enterprise, organized on a cooperative basis and incorporated under this chapter such that:

  (1) Each member has one vote and only one vote, except as may be altered in the articles or bylaws of a secondary cooperative by provision for voting by member organizations;

  (2) The maximum rate at which any return is paid on share or membership capital is limited; and

  (3) The allocation or distribution of net savings after making provision for such separate funds as may be required or specially permitted by statute, articles, or bylaws, is made to member patrons or to all patrons, in proportion to their patronage; or is allocated in a manner which benefits the general welfare of all of the members of the association. See Hawaii Revised Statutes 421C-1

• 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.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Directors: means the board of directors of an association. See Hawaii Revised Statutes 421C-1
• Electric utility cooperative association: means a consumer cooperative association that provides electric utility service as a public utility. See Hawaii Revised Statutes 421C-1
• Member: means a member of either a stock or a nonstock association in accordance with section 421C-3. See Hawaii Revised Statutes 421C-1
• Net savings: means the total income of an association minus the costs of operation. See Hawaii Revised Statutes 421C-1
• Non-escheat patronage refunds: means patronage refunds from an electric utility cooperative association for which a five-year period has elapsed since the patronage refunds were made and for which no claims have been made by the patrons to whom the refunds were allocated. See Hawaii Revised Statutes 421C-1
• Share or membership capital: refers to the capital paid into an association by a member in accordance with section 421C-3. See Hawaii Revised Statutes 421C-1
• Statute: A law passed by a legislature.