Hawaii Revised Statutes 431:11-104.1 – Definitions
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Terms Used In Hawaii Revised Statutes 431:11-104.1
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Person: means an individual, a corporation, a limited liability company, a partnership, an association, a joint stock company, a trust, an unincorporated organization, and any similar entity or any combination of the foregoing acting in concert, but shall not include any joint venture partnership exclusively engaged in owning, managing, leasing, or developing real or tangible personal property, or a securities broker performing only the usual and customary broker's function. See Hawaii Revised Statutes 431:11-102
The following definitions shall apply for the purposes of sections 431:11-104.2 through 431:11-104.6 only:
“Acquisition” means any agreement, arrangement, or activity the consummation of which results in a person acquiring directly or indirectly the control of another person, and includes, but is not limited to, the acquisition of voting securities, the acquisition of assets, bulk reinsurance, and mergers.
“Involved insurer” means an insurer which either acquires or is acquired, is affiliated with an acquirer or person acquired, or is the result of a merger.