Terms Used In Hawaii Revised Statutes > Chapter 424 - Optometric Service Corporations

• Airport: means any area of land or water which is used, or intended for use, for the landing and takeoff of aircraft, and any appurtenant areas which are used, or intended for use, for airport buildings or other airport facilities or rights-of-way, including approaches, together with all airport buildings and facilities located thereon. See Hawaii Revised Statutes 261-1
• 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.
• Department: means the department of transportation. See Hawaii Revised Statutes 261-1
• Director: means the director of transportation. See Hawaii Revised Statutes 261-1
• 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.
• 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}
• 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.
• Person: means any individual, firm, partnership, corporation, company, association, joint stock association, or body politic; and includes any trustee, receiver, assignee, or other similar representative thereof. See Hawaii Revised Statutes 261-1
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.