Terms Used In Hawaii Revised Statutes > Chapter 414 > Part VIII > VOTING TRUSTS AND AGREEMENTS

• Accredited: means holding an institutional accreditation by name to offer post-secondary education as a United States-based institution from a regional or national accrediting agency recognized by the United States Department of Education. See Hawaii Revised Statutes 305J-2
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Articles of incorporation: include amended and restated articles of incorporation and articles of merger. See Hawaii Revised Statutes 414-3
• Authorization: means the authorization granted to a private college or university, seminary, or religious training institution as provided in this chapter and any applicable rules and policies. See Hawaii Revised Statutes 305J-2
• Board: means the board of land and natural resources. See Hawaii Revised Statutes 173A-2
• candidate: means a degree-granting institution that has submitted an application for accreditation to a regional or national accrediting agency recognized by the United States Department of Education; provided that the application has been accepted pursuant to the accrediting agency's application requirements and is pending approval by the accrediting agency. See Hawaii Revised Statutes 305J-2
• 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
• Degree: means a statement, diploma, certificate, or other writing in any language that indicates or represents, or is intended to indicate or represent, that the person named thereon is learned in or has satisfactorily completed a prescribed course of study in a particular field of endeavor or that the person named thereon has demonstrated proficiency in a field of endeavor as a result of formal preparation or training. See Hawaii Revised Statutes 305J-2
• Deliver: includes mail. See Hawaii Revised Statutes 414-3
• Department: means the department of commerce and consumer affairs. See Hawaii Revised Statutes 305J-2
• Director: means the director of commerce and consumer affairs. See Hawaii Revised Statutes 305J-2
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Electronic transmission: means any form of communication, not directly involving the physical transmission of paper, that creates a record that may be retained, retrieved, and reviewed by a recipient thereof, and that may be directly reproduced in paper form by such a recipient through an automated process. See Hawaii Revised Statutes 414-3
• Employee: includes an officer but not a director. See Hawaii Revised Statutes 414-3
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Land: means the earth, water, and air, above, below, or on the surface, and includes easements and rights in land, and any improvement on land. See Hawaii Revised Statutes 173A-2
• 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.
• Out-of-state public institution: means an institution of higher education that is established by a government entity in a state other than Hawaii. See Hawaii Revised Statutes 305J-2
• 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: includes individual and entity. See Hawaii Revised Statutes 414-3
• Physical presence: means :

  (1) Having a physical location in the State, where students receive synchronous or asynchronous instruction; or

  (2) Establishing an administrative office in the State in order to:

  (A) Provide information to prospective students, enrolling students, or the general public about the institution;

  (B) Provide services to enrolled students;

  (C) Provide office space for instructional or non-instructional staff; and

  (D) Maintain an institutional mailing address, street address, or telephone number in the State. See Hawaii Revised Statutes 305J-2

• Principal office: means the office (in or out of this State) so designated in the annual report where the principal executive offices of a domestic or foreign corporation are located. See Hawaii Revised Statutes 414-3
• Private college or university: means a nonpublic post-secondary education institution having a physical presence in the State that offers associate, baccalaureate, post-baccalaureate, master's, or doctoral degrees or diplomas. See Hawaii Revised Statutes 305J-2
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Provisional authorization: means authorization of a candidate for accreditation for no more than a five-year period, unless an extension is granted by the director for good cause, while the candidate for accreditation seeks to satisfy the requirement for institutional accreditation; provided that no provisional authorization shall be given for more than a ten-year period. See Hawaii Revised Statutes 305J-2
• religious training institution: means a bona fide religious post-secondary educational institution that has a physical presence in the State, that is exempt from property taxation under the laws of the State, and that offers associate, baccalaureate, post-baccalaureate, master's, or doctoral degrees or diplomas. See Hawaii Revised Statutes 305J-2
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Right of rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, who receives a full refund of all fees paid. The right of rescission is guaranteed by the Truth in Lending Act (TILA). ^{Source: OCC}
• Shareholder: means the person in whose name shares are registered in the records of a corporation or the beneficial owner of shares to the extent of the rights granted by a nominee certificate on file with a corporation. See Hawaii Revised Statutes 414-3
• Shares: means the units into which the proprietary interests in a corporation are divided. See Hawaii Revised Statutes 414-3
• Trustee: A person or institution holding and administering property in trust.
• University of Hawaii system: means the post-secondary educational institution, including all campuses and community colleges, established and existing pursuant to article X, section 5, of the Hawaii State Constitution and chapter 304A. See Hawaii Revised Statutes 305J-2