Hawaii Revised Statutes 431:4F-101 – Definitions
Terms Used In Hawaii Revised Statutes 431:4F-101
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
- Trustee: A person or institution holding and administering property in trust.
As used in this article, unless the context requires otherwise:
“Alien insurer” has the same meaning as set forth in § 431:3-101.
“Trusteed assets” mean the assets in a trust account required by § 431:4F-104.
“Trusteed surplus” means the aggregate value of the insurer’s general state deposits and trusteed assets deposited with a trustee in compliance with § 431:4F-105, plus accrued investment income thereon where such interest is collected by the states for trustees, less the aggregate net amount of all of the insurer’s reserves and other liabilities in the United States as determined in accordance with § 431:4F-106.
“United States branch” means the business unit through which business is transacted within the United States by an alien insurer and the assets and liabilities of the insurer within the United States pertaining to such business.