Terms Used In Hawaii Revised Statutes > Chapter 431 > Article 30 - Interstate Insurance Product Regulation Compact

• Advertisement: means any material designed to create public interest in a product, or induce the public to purchase, increase, modify, reinstate, borrow on, surrender, replace, or retain a policy, as more specifically defined in the rules and operating procedures of the commission. See Hawaii Revised Statutes 431:30-102
• Allegation: something that someone says happened.
• 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.
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• 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.
• Bylaws: means those bylaws established by the commission for its governance, or for directing or controlling the commission's actions or conduct. See Hawaii Revised Statutes 431:30-102
• Commission: means the interstate insurance product regulation commission established by this compact. See Hawaii Revised Statutes 431:30-102
• Commissioner: means the chief insurance regulatory official of a state. See Hawaii Revised Statutes 431:30-102
• Compacting state: means any state that has enacted this compact legislation and that has not withdrawn pursuant to § 431:30-119, or been terminated pursuant to § 431:30-120. See Hawaii Revised Statutes 431:30-102
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• 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}
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• 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.
• Insurer: means any entity licensed by a state to issue contracts of insurance for those lines of insurance covered by this article. See Hawaii Revised Statutes 431:30-102
• 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}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Member: means the commissioner of a compacting state, as its representative to the commission, or the commissioner's designee. See Hawaii Revised Statutes 431:30-102
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Operating procedures: means procedures adopted by the commission implementing a rule, uniform standard, or a provision of this compact. See Hawaii Revised Statutes 431:30-102
• Product: means the form of a policy or contract, including any application, endorsement, or related form that is attached to and made a part of the policy or contract, and any evidence of coverage or certificate, for an individual or group annuity, life insurance, disability income, or long-term care insurance product that an insurer is authorized to issue. See Hawaii Revised Statutes 431:30-102
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Rule: means a statement of general or particular applicability and future effect adopted by the commission, including a uniform standard developed pursuant to section 431:30-112 of this compact, designed to implement, interpret, or prescribe law or policy or describing the organization, procedure, or practice requirements of the commission, which shall have the force and effect of law in the compacting states. See Hawaii Revised Statutes 431:30-102
• 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.
• State: means any state, district, or territory of the United States of America. See Hawaii Revised Statutes 431:30-102
• Statute: A law passed by a legislature.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Uniform standard: means a standard adopted by the commission for a product line, pursuant to section 431:30-112 of this compact, and shall include all of the product requirements in aggregate; provided that each uniform standard shall be construed, whether express or implied, to prohibit the use of any inconsistent, misleading, or ambiguous provisions in a product and the form of the product made available to the public shall not be unfair, inequitable, or against public policy as determined by the commission. See Hawaii Revised Statutes 431:30-102
• Venue: The geographical location in which a case is tried.