Terms Used In Hawaii Revised Statutes > Chapter 432 > Article 1 > Part IV - Financial and Reporting Requirements

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Beneficial owner: includes , but is not limited to, any person who directly or indirectly through any contract, arrangement, understanding, relationship, or otherwise has or shares the power to vote or direct the voting of a security or the power to dispose of, or direct the disposition of, the security. See Hawaii Revised Statutes 417E-1
• Broker-dealer: means a "broker-dealer" as defined in § 485A-102. See Hawaii Revised Statutes 417E-1
• Commissioner: means the commissioner of securities as provided for in chapter 485A. See Hawaii Revised Statutes 417E-1
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• county: includes the city and county of Honolulu. See Hawaii Revised Statutes 1-22
• Equity security: means any stock or similar security; or any security convertible, with or without consideration, into such a security; or carrying any warrant or right to subscribe to or purchase such a security; or any such warrant or right; or any other security which the commissioner deems to be of similar nature and considers necessary or appropriate, by such rules as the commissioner may prescribe in the public interest and for the protection of investors, to treat as an equity security. See Hawaii Revised Statutes 417E-1
• Executor: A male person named in a will to carry out the decedent
• 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.
• Health care expenditures: means claims incurred. See Hawaii Revised Statutes 432:1-406
• 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.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Member: means an individual who is covered by a mutual benefit society. See Hawaii Revised Statutes 432:1-406
• month: means a calendar month; and the word "year" a calendar year. See Hawaii Revised Statutes 1-20
• Net worth: means the excess of total admitted assets over total liabilities, but the liabilities shall not include fully subordinated debt. See Hawaii Revised Statutes 432:1-406
• 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.
• Offeree: means the beneficial owner, residing in Hawaii, of equity securities which an offeror offers to acquire in connection with a take-over offer. See Hawaii Revised Statutes 417E-1
• offeror: means a person who makes or in any way participates in making a take-over offer. See Hawaii Revised Statutes 417E-1
• Operating expenses: means claims adjustment, administrative, soliciting, and reinsurance allowances. See Hawaii Revised Statutes 432:1-406
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Service of process: The service of writs or summonses to the appropriate party.
• 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.
• Society: means mutual benefit society. See Hawaii Revised Statutes 432:1-406
• Statute: A law passed by a legislature.
• Take-over offer: means the offer to acquire any equity securities of a target company from a resident of this State pursuant to a tender offeror request or invitation for tenders, if after the acquisition of all securities acquired pursuant to the offer either the offeror would be directly or indirectly a beneficial owner of more than ten per cent of any class of the outstanding equity securities of the target company; or the beneficial ownership by the offeror of any class of the outstanding equity securities of the target company would be increased by more than five per cent, provided that this does not apply if after the acquisition of all securities acquired pursuant to the offer, the offeror would not be directly or indirectly a beneficial owner of more than ten per cent of any class of the outstanding equity securities of the target company. See Hawaii Revised Statutes 417E-1
• Target company: means an issuer of publicly traded equity securities which is organized under the laws of the State or has at least twenty per cent of its equity securities beneficially held by residents of this State, and has substantial assets in this State. See Hawaii Revised Statutes 417E-1
• Trustee: A person or institution holding and administering property in trust.
• Uncovered expenditures: means the costs to the mutual benefit society for health care services that are the obligation of the mutual benefit society, for which a member may be liable in the event of the mutual benefit society's insolvency, and for which no alternative arrangements have been made that are acceptable to the commissioner. See Hawaii Revised Statutes 432:1-406