Terms Used In Hawaii Revised Statutes > Chapter 651C - Uniform Fraudulent Transfer Act

• Affiliate: means :

  (1) A person who directly or indirectly owns, controls, or holds with power to vote, twenty or more per cent of the outstanding voting securities of the debtor, other than a person who holds the securities:

  (A) As a fiduciary or agent without sole discretionary power to vote the securities; or

  (B) Solely to secure a debt, if the person has not in fact exercised the power to vote;

  (2) A corporation, twenty or more per cent of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote, by the debtor, or by a person who directly or indirectly owns, controls, or holds with power to vote, twenty or more per cent of the outstanding voting securities of the debtor, other than a person who holds the securities:

  (A) As a fiduciary or agent without sole discretionary power to vote the securities; or

  (B) Solely to secure a debt, if the person has not in fact exercised the power to vote;

  (3) A person whose business is operated by the debtor under a lease or other agreement, or a person substantially all of whose assets are controlled by the debtor; or

  (4) A person who operates the debtor's business under a lease or other agreement or controls substantially all of the debtor's assets. See Hawaii Revised Statutes 651C-1

• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Asset: means property of a debtor but does not include:

  (1) Property to the extent that it is encumbered by a valid lien;

  (2) Property to the extent that it is generally exempt under nonbankruptcy law; or

  (3) An interest in property held in tenancy by the entireties to the extent that it is not subject to process by a creditor holding a claim against only one tenant. See Hawaii Revised Statutes 651C-1

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Claim: means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured. See Hawaii Revised Statutes 651C-1
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• 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.
• 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.
• Creditor: means a person who has a claim against a debtor. See Hawaii Revised Statutes 651C-1
• Debt: means liability on a claim. See Hawaii Revised Statutes 651C-1
• Debtor: means a person against whom a creditor has a claim. See Hawaii Revised Statutes 651C-1
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Director: means the director of labor and industrial relations. See Hawaii Revised Statutes 388-1
• Electronic transfer: includes but is not limited to point-of-sale transfers, automated teller machine transactions, direct deposits or withdrawals of funds, and transfers initiated by a telephone conversation. See Hawaii Revised Statutes 388-1
• Employee: includes any person suffered or permitted to work. See Hawaii Revised Statutes 388-1
• Employer: includes any individual; partnership; association; joint-stock company; trust; corporation; the personal representative of the estate of a deceased individual or the receiver, trustee, or successor of any of the same; general contractor, for purposes of wages owed to the employees of a subcontractor, as those terms are defined in section 388-11. See Hawaii Revised Statutes 388-1
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Fiduciary: A trustee, executor, or administrator.
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Insider: includes :

  (1) If the debtor is an individual:

  (A) A relative of the debtor or of a general partner of the debtor;

  (B) A partnership in which the debtor is a general partner;

  (C) A general partner in a partnership described in subparagraph (B); or

  (D) A corporation of which the debtor is a director, officer, or person in control;

  (2) If the debtor is a corporation:

  (A) A director of the debtor;

  (B) An officer of the debtor;

  (C) A person in control of the debtor;

  (D) A partnership in which the debtor is a general partner;

  (E) A general partner in a partnership described in subparagraph (D); or

  (F) A relative of a general partner, director, officer, or person in control of the debtor;

  (3) If the debtor is a partnership:

  (A) A general partner of the debtor;

  (B) A relative of a general partner in, of a general partner of, or of a person in control of the debtor;

  (C) Another partnership in which the debtor is a general partner;

  (D) A general partner in a partnership described in subparagraph (C); or

  (E) A person in control of the debtor;

  (4) An affiliate, or an insider of an affiliate as if the affiliate were the debtor; and

  (5) A managing agent of the debtor. See Hawaii Revised Statutes 651C-1

• Issuer: means the pay card issuer authorized to accept deposits and whose deposits are federally insured, and includes a person acting as a direct or indirect agent or administrator of an issuer. See Hawaii Revised Statutes 388-1
• 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.
• 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}
• Lien: A claim against real or personal property in satisfaction of a debt.
• Lien: means a charge against or an interest in property to secure payment of a debt or performance of an obligation, including a security interest created by agreement, a judicial lien obtained by legal or equitable process or proceedings, a common-law lien, or a statutory lien. See Hawaii Revised Statutes 651C-1
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• 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.
• Pay card: means a prepaid debit card distributed to an employee by an employer, or by another entity by arrangement with the employer, through which the employer provides the employee access to the employee's wages and is:
  (1) Issued by a federally insured depository institution authorized to accept deposits; and
  (2) Used by an employee to access wages from a pay card account and is redeemable at multiple unaffiliated merchants or service providers or automated teller machines. See Hawaii Revised Statutes 388-1
• Pay card account: means an account that is directly or indirectly established by an employer and to which transfers of the employee's wages are made. See Hawaii Revised Statutes 388-1
• Pay card fee schedule: means a written list of fees that may be charged to an employee by an issuer in connection with a pay card account or an explanation of how the fees will be determined. See Hawaii Revised Statutes 388-1
• Person: means an individual, partnership, corporation, association, organization, government or governmental subdivision or agency, business trust, estate, trust, or any other legal or commercial entity. See Hawaii Revised Statutes 651C-1
• Property: means anything that may be the subject of ownership. See Hawaii Revised Statutes 651C-1
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Relative: means an individual related within the third degree as determined by the common law, a spouse, or an individual related to a spouse within the third degree as so determined, and includes an individual in an adoptive relationship within the third degree. See Hawaii Revised Statutes 651C-1
• Statute: A law passed by a legislature.
• Testify: Answer questions in court.
• Transfer: means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset, and includes a payment of money, a release, a lease, and the creation of a lien or encumbrance. See Hawaii Revised Statutes 651C-1
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Wages: means compensation for labor or services rendered by an employee, whether the amount is determined on a time, task, piece, commission, or other basis of calculation. See Hawaii Revised Statutes 388-1