Terms Used In Hawaii Revised Statutes 486N-8.5

  • Contract: A legal written agreement that becomes binding when signed.
  • Contract price: means the price for the purchase of a membership in a health club or for services offered by a health club or for use of the facilities of a health club. See Hawaii Revised Statutes 486N-1
  • Health club: means any person operating a business organized for profit, offering facilities or services for the maintenance or development of physical fitness or well-being through physical exercise. See Hawaii Revised Statutes 486N-1

Every health club contract in excess of one year in duration shall provide that the contract price be paid by an installment plan, whereby no more than twenty per cent of the contract price can be paid as the initial payment, and the balance of the contract price shall be paid in equal monthly amounts over the remaining term of the contract. The health club shall be entitled to charge interest on the overdue unpaid balance of any monthly installment subsequent to the initial payment. The interest charged on the contract shall comply with chapter 478.