Hawaii Revised Statutes 412:3-401 – Applicability of Hawaii Business Corporation Act
Terms Used In Hawaii Revised Statutes 412:3-401
- Commissioner: means the commissioner of financial institutions of this State. See Hawaii Revised Statutes 412:1-109
- Control: means , unless the context clearly requires otherwise, directly or indirectly, solely or through another person or transaction, or in concert with another:
(1) Owning or having the power to vote twenty-five per cent or more of any class of voting securities;
(2) Owning or having the power to exercise twenty-five per cent or more of the votes of a mutual association, credit union, or other entity whose voting rights are not determined by voting securities;
(3) Owning or having the power to vote ten per cent or more of any class of voting securities if:
(A) the issuer of that class of securities has issued any class of securities under section 12 of the Securities Exchange Act of 1934, as amended; or
(B) immediately after the acquisition, no other person will own a greater percentage of that class of voting securities;
(4) Having the power to elect by any means a majority of the directors; or
(5) Having the power to exercise a dominant influence over management, if so determined by the commissioner after notice and a hearing. See Hawaii Revised Statutes 412:1-109
- 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.
- Director: means any member of the board of directors of a financial institution, whether or not receiving compensation. See Hawaii Revised Statutes 412:1-109
- Financial institution: means a Hawaii financial institution, and unless the context indicates otherwise, a federal financial institution or foreign financial institution. See Hawaii Revised Statutes 412:1-109