Terms Used In Hawaii Revised Statutes > Chapter 431 > Article 10D > Part VII - Suitability in Annuity Transactions

• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• 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}
• Board: means the Hawaii labor relations board, provided for by sections 26-20, 89-5, and 377-2. See Hawaii Revised Statutes 377-1
• Business income: means income arising from transactions and activity in the regular course of the taxpayer's trade or business and includes income from tangible and intangible property if the acquisition, management, and disposition of the property constitute integral parts of the taxpayer's regular trade or business operations. See Hawaii Revised Statutes 235-21
• Client company: means any person that enters into a professional employer agreement with a professional employer organization and has covered employees. See Hawaii Revised Statutes 373L-1
• Collective bargaining unit: means all of the employees of one employer (employed within the State), except that where the board has determined and certified that such employees engaged in a single craft, division, department, or plant as provided in section 377-5(b) constitute a separate bargaining unit they shall be so considered. See Hawaii Revised Statutes 377-1
• Commercial domicile: means the principal place from which the trade or business of the taxpayer is directed or managed. See Hawaii Revised Statutes 235-21
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contract: A legal written agreement that becomes binding when signed.
• Covered employee: means an individual who performs services for a client company pursuant to a professional employer agreement. See Hawaii Revised Statutes 373L-1
• Department: means the department of labor and industrial relations. See Hawaii Revised Statutes 373L-1
• Director: means the director of labor and industrial relations. See Hawaii Revised Statutes 373L-1
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Employee: includes any person, other than an independent contractor, working for another for hire in the State, and shall not be limited to the employees of a particular employer unless the context clearly indicates otherwise. See Hawaii Revised Statutes 377-1
• Employer: means a person who engages the services of an employee, and includes any person acting on behalf of an employer, but shall not include the State or any political subdivision thereof, or any labor organization or anyone acting in behalf of such organization other than when it is acting as an employer in fact. See Hawaii Revised Statutes 377-1
• Fiduciary: A trustee, executor, or administrator.
• Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
• 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.
• Labor dispute: includes any controversy concerning terms, tenure or conditions of employment, or concerning the association or representation of persons in negotiating, fixing, maintaining, changing, or seeking to arrange terms or conditions of employment, regardless of whether the disputants stand in the proximate relation of employer and employee. See Hawaii Revised Statutes 377-1
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Nonbusiness income: means all income other than business income. See Hawaii Revised Statutes 235-21
• 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.
• 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.
• Person: means a natural or legal person. See Hawaii Revised Statutes 373L-1
• Person: includes one or more individuals, partnerships, associations, corporations, legal representatives, trustees, or receivers. See Hawaii Revised Statutes 377-1
• Person employed in an executive or supervisory capacity: means any employee who has the authority to hire or fire other employees or whose suggestions and recommendations as to hiring or firing and as to the advancement, promotion, or demotion of other employees will be given particular weight; but shall not mean registered nurses whose compensation is determined on an hourly basis or who are subject to supervision by any person other than the person in charge of all registered nurses at the employer's premises. See Hawaii Revised Statutes 377-1
• Personal property: All property that is not real property.
• Professional employer agreement: means a written contract by and between a client company and a professional employer organization that:

  (1) Provides for covered employees to the client company;

  (2) Describes the duties and responsibilities of the client company and the professional employer organization with respect to the covered employees; and

  (3) Includes a declaration by the professional employer organization of the professional employer organization's responsibilities under § 373L-6. See Hawaii Revised Statutes 373L-1

• Professional employer organization: means any person that is a party to a professional employer agreement with a client company and whose covered employees perform services on a long-term, rather than temporary or project-specific basis. See Hawaii Revised Statutes 373L-1
• Public utility: has the meaning given that term in § 269-1. See Hawaii Revised Statutes 235-21
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Representative: includes any person chosen by an employee to represent the employee. See Hawaii Revised Statutes 377-1
• Sales: means all gross receipts of the taxpayer not allocated under §§ 235-24 to 235-28. See Hawaii Revised Statutes 235-21
• 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.
• State: means any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, any territory or possession of the United States, and any foreign country or political subdivision thereof. See Hawaii Revised Statutes 235-21
• Temporary help services: means an arrangement by which a person recruits and hires the person's own employees and:

  (1) Finds other organizations that need the services of those employees;

  (2) Assigns those employees to perform work or services for other organizations to support or supplement the other organizations' workforces or to provide assistance in special work situations, including employee absences, skill shortages, seasonal workloads, or special assignments or projects; and

  (3) Customarily attempts to reassign the employees to successive placements with other organizations at the end of each assignment. See Hawaii Revised Statutes 373L-1

• Unfair labor practice: means any unfair labor practice as defined in §§ 377-6 to 377-8. See Hawaii Revised Statutes 377-1