Terms Used In Hawaii Revised Statutes > Chapter 155 - Agricultural and Water Infrastructure Loans

• Administrator: means the chief of police of each county or the director of finance of each county and their authorized subordinates charged with the responsibility of administering this chapter;

  "Driver" means every person who is in actual physical control of a motor vehicle;

  "Judgment" means any judgment, order, or decree which has become final by expiration without appeal of the time within which an appeal might have been perfected, or by final affirmation on appeal, rendered by a court of competent jurisdiction of the United States or any territory or state thereof upon a cause of action arising out of the ownership, maintenance, or use of any motor vehicle for damages, including damages for care and loss of services, because of bodily injury to or death of any person, or for damages because of injury to or destruction of property, including the loss of use thereof, or upon a cause of action on an agreement of settlement for such damages;

  "Legal owner" has the same meaning prescribed by § 286-2;

  "License" means any license or permit issued or recognized under chapter 286 to operate motor vehicles;

  "Motor vehicle" has the meaning prescribed by § 286-2 and includes trailers and semitrailers designed for use by such vehicles, but does not include road rollers, farm tractors, tractor cranes, power shovels, and well drillers;

  "Nonresident" means every person who is not a resident of the State;

  "Nonresident's operating privilege" means the privilege conferred upon a nonresident by laws of the State pertaining to the operation by the nonresident of a motor vehicle, or the use of a motor vehicle owned by the nonresident in this State;

  "Owner" or "registered owner" has the meaning prescribed by § 286-2 to the term "owner";

  "Proof of financial responsibility" means proof of ability to respond in damages for liability, on account of accidents occurring subsequent to the effective date of such proof, arising out of the ownership, maintenance, or use of a motor vehicle, in the amounts prescribed by section 294-10(a);

  "Registration" means the certificate of registration issued pursuant to chapter 286;

  "State" except in reference to the State of Hawaii means any state, territory, or possession of the United States, the District of Columbia, or any province of the Dominion of Canada. See Hawaii Revised Statutes 287-1

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appraisal: A determination of property value.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Biosecurity: means a system that serves to protect the health of livestock, poultry, and humans from diseases, pests, and pathogens and measures that prevent disease causing agents from entering, spreading, or leaving the farm premises. See Hawaii Revised Statutes 155-1
• Board: means the board of directors of the development corporation established in section 206M-2, and any successor thereto. See Hawaii Revised Statutes 206M-1
• Capital: means :

  (1) The aggregate par value or other amount received and allocated to the issued and outstanding capital stock of a financial institution; or

  (2) The total amount of a credit union's outstanding and unimpaired membership shares or share accounts. See Hawaii Revised Statutes 412:1-109

• Commissioner: means the commissioner of financial institutions of this State. See Hawaii Revised Statutes 412:1-109
• Company: means any corporation, partnership, trust (business or otherwise), association, joint venture, pool syndicate, unincorporated organization, or any form of business entity not specifically listed herein and, unless specifically excluded, a financial institution; provided that "company" does not mean any trust existing on July 1, 1993, which under its terms must terminate within twenty-five years, or not later than twenty-one years and ten months after the death of individuals living on the effective date of the trust. See Hawaii Revised Statutes 412:1-109
• Conservator: means a person appointed by the commissioner to take possession and control of a Hawaii financial institution for a temporary period in order to preserve and protect the assets of the institution for the benefit of its depositors, beneficiaries, creditors, and shareholders or members. See Hawaii Revised Statutes 412:1-109
• Control: means , unless the context clearly requires otherwise, directly or indirectly, solely or through another person or transaction, or in concert with another:

  (1) Owning or having the power to vote twenty-five per cent or more of any class of voting securities;

  (2) Owning or having the power to exercise twenty-five per cent or more of the votes of a mutual association, credit union, or other entity whose voting rights are not determined by voting securities;

  (3) Owning or having the power to vote ten per cent or more of any class of voting securities if:

  (A) the issuer of that class of securities has issued any class of securities under section 12 of the Securities Exchange Act of 1934, as amended; or

  (B) immediately after the acquisition, no other person will own a greater percentage of that class of voting securities;

  (4) Having the power to elect by any means a majority of the directors; or

  (5) Having the power to exercise a dominant influence over management, if so determined by the commissioner after notice and a hearing. See Hawaii Revised Statutes 412:1-109

• Conviction: A judgement of guilt against a criminal defendant.
• Cooperative: means a nonprofit association of farmers organized under chapter 421. See Hawaii Revised Statutes 155-1
• Department: means the department of agriculture. See Hawaii Revised Statutes 155-31
• Depository institution: means a financial institution that is authorized to accept deposits under its chartering or licensing authority and includes a bank, savings bank, savings and loan association, depository financial services loan company, credit union, or intra-Pacific bank. See Hawaii Revised Statutes 412:1-109
• deposits: means money or its equivalent received or held by a person in the usual course of business and for which it has given or is obligated to give credit, either conditionally or unconditionally, to a demand, checking, savings, time, passbook, negotiable order of withdrawal, thrift, or share account, or which is evidenced by its passbook, certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument, or a check, draft, or share draft drawn against a deposit account and certified by a person, on which the person is primarily liable. See Hawaii Revised Statutes 412:1-109
• Development corporation: means the Hawaii technology development corporation established by section 206M-2. See Hawaii Revised Statutes 206M-1
• Division: means the division of financial institutions of the department of commerce and consumer affairs of this State. See Hawaii Revised Statutes 412:1-109
• Enterprise: means a person with a place of business in Hawaii which is, or proposes to be, engaged in business in Hawaii; provided that the endeavor shall not be devoted to the sale of goods at retail, construction of housing, or tourism- related services. See Hawaii Revised Statutes 206M-1
• Farm land: means land used for agricultural purposes, including general farming, cane growing, fruit growing, flower growing, grazing, dairying, the production of any form of livestock or poultry, and any other form of agricultural activity. See Hawaii Revised Statutes 155-1
• Federal: means belonging to, part of, or related to the government of the United States of America. See Hawaii Revised Statutes 412:1-109
• Fiduciary: A trustee, executor, or administrator.
• Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. ^{Source: OCC}
• Financial institution: means a Hawaii financial institution, and unless the context indicates otherwise, a federal financial institution or foreign financial institution. See Hawaii Revised Statutes 412:1-109
• Financial institution holding company: means a holding company which controls a Hawaii financial institution or which controls another financial institution holding company. See Hawaii Revised Statutes 412:1-109
• Food manufacturers: means entities that process Hawaii-grown agricultural products or that utilize Hawaii-grown agricultural products as an ingredient in the manufacturing process. See Hawaii Revised Statutes 155-1
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Grantor: The person who establishes a trust and places property into it.
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Hawaii financial institution: means :

  (1) A corporation or credit union that holds a charter or license under this chapter or under prior Hawaii law, authorizing it to accept deposits, to make loans in excess of the rates permitted in chapter 478, or to engage in the business of a trust company; or

  (2) A resulting bank as defined in article 12,

  and includes a corporation or credit union existing and chartered as a Hawaii financial institution or licensed to transact business in this State on July 1, 1993. See Hawaii Revised Statutes 412:1-109

• Holding company: means any company which controls another company. See Hawaii Revised Statutes 412:1-109
• loan program: means the program established by this part and loans made to finance the purchase or installation of water infrastructure equipment for dams, reservoirs, hydroelectric pumping, storm water reclamation, ditch maintenance, spillways, wells, water ducts, water distribution systems, and water tanks. See Hawaii Revised Statutes 155-31
• Loans and extensions of credit: includes a contractual commitment to advance funds. See Hawaii Revised Statutes 412:1-109
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage: includes classes of liens on farm land and other authorized security as are approved by the department of agriculture and the credit instruments secured thereby. See Hawaii Revised Statutes 155-1
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Motor vehicle: has the meaning prescribed by § 286-2 and includes trailers and semitrailers designed for use by such vehicles, but does not include road rollers, farm tractors, tractor cranes, power shovels, and well drillers;

  "Nonresident" means every person who is not a resident of the State;

  "Nonresident's operating privilege" means the privilege conferred upon a nonresident by laws of the State pertaining to the operation by the nonresident of a motor vehicle, or the use of a motor vehicle owned by the nonresident in this State;

  "Owner" or "registered owner" has the meaning prescribed by § 286-2 to the term "owner";

  "Proof of financial responsibility" means proof of ability to respond in damages for liability, on account of accidents occurring subsequent to the effective date of such proof, arising out of the ownership, maintenance, or use of a motor vehicle, in the amounts prescribed by section 294-10(a);

  "Registration" means the certificate of registration issued pursuant to chapter 286;

  "State" except in reference to the State of Hawaii means any state, territory, or possession of the United States, the District of Columbia, or any province of the Dominion of Canada. See Hawaii Revised Statutes 287-1

• motor vehicle liability policy: as used in this chapter means an owner's or a driver's policy of liability insurance, certified as provided in § 287-22 or § 287-23 as proof of financial responsibility, and issued, except as otherwise provided in § 287-23, by an insurance carrier duly authorized to transact business in the State, to or for the benefit of the person named therein as insured. See Hawaii Revised Statutes 287-24
• New farmer: means a new farm enterprise or a person, who by reason of ability, experience, and training, is likely to successfully operate a farm and who otherwise meets the eligibility requirements of § 155-10 and includes any of the following:

  (1) Persons displaced from employment in an agricultural production enterprise;

  (2) College graduates in agriculture;

  (3) Community college graduates in agriculture;

  (4) Members of the Hawaii Young Farmer Association and National FFA Organization graduates with farming projects;

  (5) Persons who have not less than two years' experience as part-time farmers;

  (6) Graduates from farm trainee programs designed to provide interns with the necessary hands-on skills and management training to successfully operate their own farm;

  (7) Persons who have been farm tenants or farm laborers; or

  (8) Other individuals who have for the two years last preceding their application obtained the major portion of their income from farming operations. See Hawaii Revised Statutes 155-1

• Part-time farmer: means a person of proven farming ability who:

  (1) Has been operating the person's farm for at least two years on land owned by the person in fee or on land rented or leased from others;

  (2) Is presently devoting a portion of the person's time to farming; and

  (3) Derives between twenty-five to fifty per cent of the person's net cash income from direct participation in farming in its broadest sense. See Hawaii Revised Statutes 155-1

• 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.
• Person: means a natural person, entity or organization, including without limitation an individual, corporation, joint venture, partnership, sole proprietorship, association, cooperative, estate, trust, or governmental unit. See Hawaii Revised Statutes 412:1-109
• Person: means a sole proprietorship, partnership, joint venture, corporation, or other association of persons organized for commercial or industrial purposes. See Hawaii Revised Statutes 206M-1
• Personal property: All property that is not real property.
• Plaintiff: The person who files the complaint in a civil lawsuit.
• police force: includes among others, jailors, turnkeys, guards, matrons, lunas, and cooks employed in any county jail. See Hawaii Revised Statutes 88-152
• Private lender: includes banks, savings and loan associations, credit unions, mortgage companies, and other qualified companies whose business includes the making of loans in the State. See Hawaii Revised Statutes 155-1
• Probate: Proving a will
• Qualified farmer: means a person of proven farming ability who operates the person's own farm on land owned by the person in fee or on land rented or leased from others and who is presently devoting, has recently devoted, or intends to devote most of the person's time or who derives a major portion of the person's net cash income from direct participation in farming in its broadest sense. See Hawaii Revised Statutes 155-1
• Receiver: means a person appointed by the commissioner to take possession and control of a Hawaii financial institution for the purpose of liquidating and winding up the affairs of the institution. See Hawaii Revised Statutes 412:1-109
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Subsidiary: means a corporation, joint venture, partnership, or other company that is controlled by another corporation. See Hawaii Revised Statutes 412:1-109
• surplus: includes retained earnings, whether or not transferred or allocated to surplus. See Hawaii Revised Statutes 412:1-109
• this State: means the State of Hawaii, its political subdivisions, agencies, and departments. See Hawaii Revised Statutes 412:1-109
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Water infrastructure equipment: means infrastructure improvements, equipment, and personal property to be installed for dams, reservoirs, hydroelectric pumping, storm water reclamation, ditch maintenance, spillways, wells, water ducts, water distribution systems, and water tanks. See Hawaii Revised Statutes 155-31