Terms Used In Hawaii Revised Statutes > Chapter 346 > Part XVIII - Statewide Homelessness and Housing Solutions

• 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}
• Chief of police: means the chief of police of the counties of Hawaii, Maui, Kauai, or the city and county of Honolulu. See Hawaii Revised Statutes 134-1
• Contingent beneficiary: Receiver of property or benefits if the first named beneficiary fails to receive any or all of the property or benefits in question before his (her) death.
• 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 human services. See Hawaii Revised Statutes 346-1
• Director: means the director of finance. See Hawaii Revised Statutes 256B-1
• Director: means the director of human services. See Hawaii Revised Statutes 346-1
• Eligible educational institution: means :

  (1) An institution described in sections 481(a)(1) or 1201(a) of the Higher Education Act of 1965 (20 U. See Hawaii Revised Statutes 257-1

• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fiduciary: A trustee, executor, or administrator.
• Fiduciary organization: means an organization that serves as an intermediary between an individual account holder and the financial institution holding the individual's individual development account funds. See Hawaii Revised Statutes 257-1
• Financial institution: means an organization authorized to do business pursuant to chapter 412, or under federal laws relating to financial institutions, and includes a bank, trust company, savings bank, building and loan association, savings and loan company or association, and credit union. See Hawaii Revised Statutes 257-1
• Firearm: means any weapon, for which the operating force is an explosive, including but not limited to pistols, revolvers, rifles, shotguns, automatic firearms, noxious gas projectors, mortars, bombs, and cannon. See Hawaii Revised Statutes 134-1
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Household: means adults related by blood, marriage, or adoption, or who are unrelated but have maintained a stable family relationship together over a period of time, and individuals under eighteen years of age related to the above adults by marriage, blood, or adoption, who are living together. See Hawaii Revised Statutes 257-1
• Individual development account: means an optional, interest bearing, subsidized, tax-benefitted account used exclusively for the purpose of paying the qualified expenditure of an eligible individual as determined by the fiduciary organization. See Hawaii Revised Statutes 257-1
• month: means a calendar month; and the word "year" a calendar year. See Hawaii Revised Statutes 1-20
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Program: means the Hawaii ABLE savings program established under this chapter. See Hawaii Revised Statutes 256B-1
• Program manager: means a financial organization selected by the director of finance to act as a depository and manager of the program. See Hawaii Revised Statutes 256B-1
• Qualified acquisition costs: means the costs of acquiring, constructing, or reconstructing a residence and shall include any usual or reasonable settlement, financing, or other closing costs. See Hawaii Revised Statutes 257-1
• Qualified business: means any business that does not contravene any law or public policy. See Hawaii Revised Statutes 257-1
• Qualified expenditures: means an expense as determined by a fiduciary organization, which may include but not be limited to:

  (1) Costs associated with first homeownership;

  (2) Post-secondary education;

  (3) Vocational training; and

  (4) Small or micro-business capitalization. See Hawaii Revised Statutes 257-1

• Qualified plan: means a business plan or a plan to use a business asset purchased, that:

  (1) Is approved by a financial institution, a micro-enterprise development organization, or a nonprofit loan fund having demonstrated fiduciary integrity;

  (2) Includes a description of services or goods to be sold, a marketing plan, and projected financial statements; and

  (3) May require the eligible individual to obtain the assistance of an experienced entrepreneurial advisor. See Hawaii Revised Statutes 257-1

• Quorum: The number of legislators that must be present to do business.
• 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.
• 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.