Terms Used In Hawaii Revised Statutes > Chapter 414D > Part XII - Distributions

• Affiliate: means an entity that directly or indirectly controls, is controlled by, or is under common control with the public benefit corporation. See Hawaii Revised Statutes 414D-14
• articles: includes amended and restated articles of incorporation, and articles of merger. See Hawaii Revised Statutes 414D-14
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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.
• Corporation: means a nonprofit corporation unless otherwise specified. See Hawaii Revised Statutes 414D-14
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Deliver: includes mail. See Hawaii Revised Statutes 414D-14
• Department: means the department of commerce and consumer affairs, unless the context otherwise requires. See Hawaii Revised Statutes 414D-14
• Distribution: means the payment of a dividend or any part of the income or profit of a corporation to its members, directors, or officers. See Hawaii Revised Statutes 414D-14
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Member: means (without regard to what a person is called in the articles or bylaws) any person or persons having the rights and obligations of membership pursuant to a corporation's articles of incorporation or bylaws. See Hawaii Revised Statutes 414D-14
• Person: includes any individual or entity. See Hawaii Revised Statutes 414D-14
• Public benefit corporation: means any corporation designated by statute as a public benefit corporation, or any corporation that is recognized as exempt under section 501(c)(3) of the Internal Revenue Code of 1986, as amended, or that is organized for public or charitable purposes and upon dissolution must distribute its assets to a public benefit corporation, the United States, a state, or a person recognized as exempt under section 501(c)(3) of the Internal Revenue Code of 1986, as amended. See Hawaii Revised Statutes 414D-14