Hawaii Revised Statutes 485A-801 – Definitions
Terms Used In Hawaii Revised Statutes 485A-801
- Agent: means an individual, other than a broker-dealer, who represents a broker-dealer in effecting or attempting to effect purchases or sales of securities or represents an issuer in effecting or attempting to effect purchases or sales of the issuer's securities. See Hawaii Revised Statutes 485A-102
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Broker-dealer: means a person engaged in the business of effecting transactions in securities for the accounts of others or for the person's own account. See Hawaii Revised Statutes 485A-102
- Elder: means an individual sixty-two years of age or older. See Hawaii Revised Statutes 485A-801
- Investment adviser: means a person that, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or the advisability of investing in, purchasing, or selling securities or that, for compensation and as a part of a regular business, issues or promulgates analyses or reports concerning securities. See Hawaii Revised Statutes 485A-102
- Person: means an individual; corporation; business trust; estate; trust; partnership; limited liability company; association; joint venture; government; governmental subdivision, agency, or instrumentality; public corporation; or any other legal or commercial entity. See Hawaii Revised Statutes 485A-102
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Qualified person: means any agent, broker-dealer, investment adviser representative, investment adviser, or person who serves in a supervisory or compliance capacity for a broker-dealer or an investment adviser. See Hawaii Revised Statutes 485A-801
- Vulnerable adult: means a person eighteen years of age or older who, because of mental, developmental, or physical impairment, is unable to:
(1) Communicate or make responsible decisions to manage the person's own care or resources;
(2) Carry out or arrange for essential activities of daily living; or
(3) Protect oneself from abuse. See Hawaii Revised Statutes 485A-801
As used in this part, unless the context otherwise requires:
“Elder” means an individual sixty-two years of age or older.
“Financial exploitation” means:
(1) The wrongful or unauthorized taking, withholding, appropriation, or use of money, assets, or property of an elder or a vulnerable adult; or
(2) Any act or omission by a person, including through the use of a power of attorney, guardianship, or conservatorship of an elder or a vulnerable adult, to:
(A) Obtain control through deception, intimidation, or undue influence over the elder’s or vulnerable adult’s money, assets, or property to deprive the elder or vulnerable adult of the ownership, use, benefit, or possession of the elder’s or vulnerable adult’s money, assets, or property; or
(B) Convert money, assets, or property of the elder or vulnerable adult to deprive the elder or vulnerable adult of the ownership, use, benefit, or possession of the elder’s or vulnerable adult’s money, assets, or property.
“Qualified person” means any agent, broker-dealer, investment adviser representative, investment adviser, or person who serves in a supervisory or compliance capacity for a broker-dealer or an investment adviser.
“Reasonably associated individual” means any person known to the qualified person to be reasonably associated with the elder, vulnerable adult, or account.
“Vulnerable adult” means a person eighteen years of age or older who, because of mental, developmental, or physical impairment, is unable to:
(1) Communicate or make responsible decisions to manage the person’s own care or resources;
(2) Carry out or arrange for essential activities of daily living; or
(3) Protect oneself from abuse.