Hawaii Revised Statutes 412:10-119 – Conflicts of interest
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Terms Used In Hawaii Revised Statutes 412:10-119
- 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
- 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: means a natural person, entity or organization, including without limitation an individual, corporation, joint venture, partnership, sole proprietorship, association, cooperative, estate, trust, or governmental unit. See Hawaii Revised Statutes 412:1-109
No director, committee member, officer, agent or employee of the credit union shall in any manner, directly or indirectly, participate in the deliberation upon or the determination of any question affecting that person‘s pecuniary interest or the pecuniary interest of any corporation, partnership, or association (other than the credit union) in which that person is directly or indirectly interested.