Hawaii Revised Statutes 412:8-100 – Applicability of article
Terms Used In Hawaii Revised Statutes 412:8-100
- Case law: The law as laid down in cases that have been decided in the decisions of the courts.
- 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
- this State: means the State of Hawaii, its political subdivisions, agencies, and departments. See Hawaii Revised Statutes 412:1-109
This article shall apply to all financial institutions chartered under this article as trust companies or otherwise authorized to engage in the trust business under this chapter, whether the business of such institution is carried on in this State or elsewhere. The powers and duties of trustees imposed by case law shall not be affected by this chapter unless a provision hereof conflicts with such case law, in which event this chapter shall control.
