Hawaii Revised Statutes 48-1 – Definitions
Terms Used In Hawaii Revised Statutes 48-1
- 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.
- county: includes the city and county of Honolulu. See Hawaii Revised Statutes 1-22
- Department: means the department of business, economic development, and tourism. See Hawaii Revised Statutes 48-1
- 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
- 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.
- Political subdivision: means a county or other political subdivision created by the legislature pursuant to article VIII, section 1, of the constitution of the State. See Hawaii Revised Statutes 48-1
As used in this chapter:
“Department” means the department of business, economic development, and tourism.
“Economic development bond” means any general or revenue bond issued by any political subdivision of the State for the purpose of financing the purchase or lease of land; the purchase or construction, including reconstruction, improvement, expansion, extension, and enlargement, of buildings and appurtenances; and the purchase and installation of machinery, equipment, or fixtures, when the purchases or leases are made primarily for sale or continuing lease to a private individual, partnership, or corporation for use in connection with the development of an agricultural, industrial, commercial, or hotel enterprise.
“Governing body” means the body, council, or board charged with exercising the legislative authority of a political subdivision of the State.
“Political subdivision” means a county or other political subdivision created by the legislature pursuant to article VIII, section 1, of the constitution of the State.