Terms Used In Hawaii Revised Statutes > Chapter 352
- Account: means any of the three accounts created under section 431:16-206(a). See Hawaii Revised Statutes 431:16-205
- Administrator: means the captive insurance administrator established in section 431:19-101. See Hawaii Revised Statutes 431:19-101
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- 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.
- Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
- 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.
- Association: means two or more members who are engaged in business or activities similar or related to the liability to which these members are exposed by virtue of any related, similar, or common business trade, product, services, premises, or operations; provided that the members of the association shall be individuals, corporations, limited liability companies, partnerships, associations, or other entities, except labor organizations, the member organizations of which or which does itself, whether or not in conjunction with some or all of the member organizations:
(1) Own, control, or hold with power to vote all of the outstanding voting securities of an association captive insurance company incorporated as a stock insurer;
(2) Have complete voting control over an association captive insurance company incorporated as a mutual insurer;
(3) Constitute all of the subscribers of an association captive insurance company formed as a reciprocal insurer; or
(4) Have complete voting control over an association captive insurance company formed as a limited liability company. See Hawaii Revised Statutes 431:19-101
- Association: means the Hawaii life and disability insurance guaranty association created under section 431:16-206. See Hawaii Revised Statutes 431:16-205
- Association captive insurance company: means a captive insurance company that insures risks of the member organizations of the association, and that may insure the risks of affiliated entities of the member organizations and the risks of the association itself. See Hawaii Revised Statutes 431:19-101
- Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
- authorized: when used in the context of assessments means a resolution by the board of directors that has been passed whereby an assessment will be called immediately or in the future from member insurers for a specified amount. See Hawaii Revised Statutes 431:16-205
- 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
- Branch captive insurance company: means an outside captive insurance company licensed under this article by the commissioner to transact the business of insurance in this State through a business unit that has its principal place of business in this State. See Hawaii Revised Statutes 431:19-101
- called: when used in the context of assessments means a notice that has been issued by the association to member insurers requiring that an authorized assessment be paid within the time frame set forth within the notice. See Hawaii Revised Statutes 431:16-205
- captive insurer: means a class 1 company, class 2 company, class 3 company, class 4 company, or class 5 company formed or authorized under this article. See Hawaii Revised Statutes 431:19-101
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Continuance: Putting off of a hearing ot trial until a later time.
- Contract: A legal written agreement that becomes binding when signed.
- contract owner: means the person who is identified as the legal owner under the terms of the policy or contract or who is otherwise vested with legal title to the policy or contract through a valid assignment completed in accordance with the terms of the policy or contract and properly recorded as the owner on the books of the insurer. See Hawaii Revised Statutes 431:16-205
- Controlled unaffiliated business: means , in the case of a pure captive insurance company, any person:
(1) That is not in the corporate system of a parent and its affiliated entities;
(2) That has an existing contractual relationship with a parent or one of its affiliated entities; and
(3) Whose risks are managed by the pure captive insurance company. See Hawaii Revised Statutes 431:19-101
- 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
- Covered policy: means any policy or contract or portion of a policy or contract for which coverage is provided under section 431:16-203. See Hawaii Revised Statutes 431:16-205
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Docket: A log containing brief entries of court proceedings.
- Enforcement officer: means any person employed and authorized by the commission to investigate any matter on behalf of the commission. See Hawaii Revised Statutes 269-1
- Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- 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.
- Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
- Felony: A crime carrying a penalty of more than a year in prison.
- 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.
- Germane: On the subject of the pending bill or other business; a strict standard of relevance.
- Governing body: means the board of directors, subscriber's advisory committee, membership, or other entity responsible for the governance of a captive insurance company. See Hawaii Revised Statutes 431:19-101
- 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.
- Impaired insurer: means a member insurer that after July 1, 1988, is not an insolvent insurer, and is placed under an order of rehabilitation or conservation by a court of competent jurisdiction. See Hawaii Revised Statutes 431:16-205
- Insolvent insurer: means a member insurer that after July 1, 1988, is placed under an order of liquidation by a court of competent jurisdiction with a finding of insolvency. See Hawaii Revised Statutes 431:16-205
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Member insurer: means any insurer licensed or who holds a certificate of authority to transact in this State any kind of insurance for which coverage is provided under section 431:16‑203, and includes any insurer whose license or certificate of authority in this State may have been suspended, revoked, not renewed, or voluntarily withdrawn, but does not include:
(1) A nonprofit hospital or medical service organization;
(2) A health maintenance organization;
(3) A fraternal benefit society;
(4) A mandatory state pooling plan;
(5) A mutual assessment company or any entity that operates on an assessment basis;
(6) An insurance exchange;
(7) An organization that has a certificate or license limited to the issuance of charitable gift annuities; or
(8) Any entity similar to any of the above. See Hawaii Revised Statutes 431:16-205
- Member organization: means any individual, corporation, limited liability company, partnership, association, or other entity that belongs to an association. See Hawaii Revised Statutes 431:19-101
- Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
- month: means a calendar month; and the word "year" a calendar year. See Hawaii Revised Statutes 1-20
- oath: includes a solemn affirmation. See Hawaii Revised Statutes 1-21
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Organizational document: means a captive insurance company's articles of association, articles of incorporation, articles of organization, subscribers' agreement, bylaws, operating agreement, or any other document that establishes the captive insurance company as a legal entity or prescribes its existence. See Hawaii Revised Statutes 431:19-101
- Outside captive insurance company: means an insurance company licensed under the laws of a jurisdiction other than this State and not otherwise admitted to do business as an insurance company in this State, that insures the risks of its parent or any affiliated entities. See Hawaii Revised Statutes 431:19-101
- Parent: means a corporation, limited liability company, partnership, other entity, or individual, that directly or indirectly owns, controls, or holds with power to vote more than fifty per cent of the outstanding voting interests of a pure captive insurance company organized as a stock corporation, nonprofit corporation, or limited liability company. See Hawaii Revised Statutes 431:19-101
- Participant: means an entity that meets the requirements of section 431:19-305, and any affiliated entities thereof that are insured by a sponsored captive insurance company where the losses of the participant may be limited through a participant contract to the participant's pro rata share of the assets of one or more protected cells identified in the participant contract. See Hawaii Revised Statutes 431:19-101
- Participant contract: means a contract by which a sponsored captive insurance company insures the risks of a participant and may also limit the losses of each participant to its pro rata share of the assets of one or more protected cells identified in such participant contract. See Hawaii Revised Statutes 431:19-101
- 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 any individual, corporation, limited liability company, partnership, association, governmental body or entity, or voluntary organization. See Hawaii Revised Statutes 431:16-205
- Personal property: All property that is not real property.
- Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
- Premiums: means amounts and considerations received on covered policies or contracts less premiums, considerations and deposits returned thereon, and less dividends and experience credits thereon. See Hawaii Revised Statutes 431:16-205
- Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
- Protected cell: means a separate account established by a sponsored captive insurance company formed or licensed under this article in which assets are maintained for one or more participants in accordance with the terms of one or more participant contracts to fund the liability of the sponsored captive insurance company assumed on behalf of the participants as set forth in the participant contracts. See Hawaii Revised Statutes 431:19-101
- Pure captive insurance company: means a captive insurance company that only insures or reinsures risks of its parent and affiliated entities or of a controlled unaffiliated business. See Hawaii Revised Statutes 431:19-101
- Quorum: The number of legislators that must be present to do business.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Receivership court: means the court in the insolvent or impaired insurer's state having jurisdiction over the conservation, rehabilitation, or liquidation of the insurer. See Hawaii Revised Statutes 431:16-205
- Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
- Risk retention captive insurance company: means a captive insurance company that is formed as a "risk retention group" as defined in chapter 431K. See Hawaii Revised Statutes 431:19-101
- Service of process: The service of writs or summonses to the appropriate party.
- Sponsored captive insurance company: means a captive insurance company:
(1) In which the minimum required capital and surplus is provided by one or more sponsors;
(2) That is formed or licensed under this article;
(3) That insures the risks only of its participants through separate participant contracts; and
(4) That may fund its liability to each participant through one or more protected cells. See Hawaii Revised Statutes 431:19-101
- State: means a state, the District of Columbia, Puerto Rico, or a United States possession, territory, or protectorate. See Hawaii Revised Statutes 431:16-205
- Subpoena: A command to a witness to appear and give testimony.
- telecommunications: means the offering of transmission between or among points specified by a user, of information of the user's choosing, including voice, data, image, graphics, and video without change in the form or content of the information, as sent and received, by means of electromagnetic transmission, or other similarly capable means of transmission, with or without benefit of any closed transmission medium, and does not include cable service as defined in section 440G-3. See Hawaii Revised Statutes 269-1
- Testify: Answer questions in court.
- Testimony: Evidence presented orally by witnesses during trials or before grand juries.
- Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
- Venue: The geographical location in which a case is tried.
- Verdict: The decision of a petit jury or a judge.