Sections
Part I General Provisions 412:8-100 – 412:8-103
Part II Powers of Trust Companies 412:8-200 – 412:8-204
Part III Investment of Trust Company Assets 412:8-300 – 412:8-302
Part IV Investment of Fiduciary Assets 412:8-400 – 412:8-403
Part V Nondepository Trust Companies 412:8-500

Terms Used In Hawaii Revised Statutes > Chapter 412 > ARTICLE 8 - TRUST COMPANIES

  • Act: means the "Hawaii Meat Inspection Act". See Hawaii Revised Statutes 159-3
  • 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.
  • Alcohol: means ethyl alcohol, hydrated oxide of ethyl, or spirits of wine, from whatever source or by whatever process produced. See Hawaii Revised Statutes 244D-1
  • 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.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Beer: means any alcoholic beverage obtained by the fermentation or any infusion or decoction of barley, malt, hops, or any other similar product, or any combination thereof in water, and includes ale, porter, brown, stout, lager beer, small beer, and strong beer but does not include sake, known as Japanese rice wine, or cooler beverage. See Hawaii Revised Statutes 244D-1
  • 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
  • Board: means the board of agriculture of the State. See Hawaii Revised Statutes 159-3
  • 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

  • Capital stock: means the units of interest, whether or not having a par value, common or preferred, legally issued by a financial institution or other corporation, which represents a fractional ownership interest in the institution or corporation. See Hawaii Revised Statutes 412:1-109
  • Case law: The law as laid down in cases that have been decided in the decisions of the courts.
  • Certification: means the act of applying the official certificate or official mark by persons performing official functions under this chapter. See Hawaii Revised Statutes 159-3
  • Commercial carrier: means any person owning, controlling, operating, or managing any vehicle, directly or indirectly, for public use in the transportation of goods or passengers for compensation over land or water, or by air. See Hawaii Revised Statutes 159-3
  • commission: means the liquor commission of each county. See Hawaii Revised Statutes 244D-1
  • 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
  • Contract: A legal written agreement that becomes binding when signed.
  • 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 § 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

  • Cooler beverage: means either a:

         (1)  Wine cooler containing wine and more than fifteen per cent added natural or artificial blending material, such as fruit juices, flavors, flavorings, or adjuncts, water (plain, carbonated, or sparkling), colorings, or preservatives, and that contains less than seven per cent of alcohol by volume; or

         (2)  Malt beverage cooler containing beer and added natural or artificial blending material, such as fruit juices, flavors, flavorings, colorings, or preservatives, and that contains less than seven per cent of alcohol by volume. See Hawaii Revised Statutes 244D-1

  • 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
  • Dealer: means the holder of a manufacturer's license, wholesaler's license, brewpub's license, winery's license, or small craft producer's license under the liquor law. See Hawaii Revised Statutes 244D-1
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Department: means the department of agriculture of the State. See Hawaii Revised Statutes 159-3
  • 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
  • Director: means the director of commerce and consumer affairs. See Hawaii Revised Statutes 484-1
  • Distilled spirits: means an alcoholic beverage obtained by the distillation of fermented agricultural products, and includes alcohol for beverage use, spirits of wine, whiskey, rum, brandy, and gin, including all dilutions and mixtures thereof, but does not include beer, draft beer, cooler beverage, or wine. See Hawaii Revised Statutes 244D-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
  • Draft beer: means beer in an individual container of seven gallons or more. See Hawaii Revised Statutes 244D-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.
  • Exotic animal: means any cloven-hoofed ruminant animal considered feral in nature, other than domestic cattle, sheep, goats, or equines. See Hawaii Revised Statutes 159-3
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • 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.
  • 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
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • fuel: means all liquids ordinarily, practically, and commercially usable in internal combustion engines for the generation of power and includes liquefied petroleum gases, all distillates of and condensates from petroleum, natural gas, coal, coal tar, and vegetable ferments, such distillates and condensates being ordinarily designated as a gasoline, naphtha, benzol, benzine, and alcohols so usable but not restricted to such designation. See Hawaii Revised Statutes 243-1
  • Gasoline: means a volatile mixture of liquid hydrocarbons, generally containing small amounts of additives, suitable for use as a fuel in spark-ignition internal combustion engines. See Hawaii Revised Statutes 486B-1
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • 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
  • Inspector: means any meat inspector of the State. See Hawaii Revised Statutes 159-3
  • Intrastate commerce: means commerce within the State. See Hawaii Revised Statutes 159-3
  • 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.
  • Label: means a display of written, printed, or graphic matter upon the immediate container (not including package liners) of any meat or meat products, or other products. See Hawaii Revised Statutes 159-3
  • Labeling: means all labels and other written, printed, or graphic matter upon any meat or meat products or any of its containers or wrappers, or accompanying the meat or meat products. See Hawaii Revised Statutes 159-3
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Liquor law: means chapter 281. See Hawaii Revised Statutes 244D-1
  • Meat broker: means any person who sells or offers to sell, or buys or offers to buy, carcasses, parts of carcasses, meat or meat products of cattle, sheep, swine, goats, horses, mules, other equines, or exotic animals on commission or who otherwise negotiates the purchase, sale, or exchange of the meat or meat products other than for the person's own account or as an employee of another person. See Hawaii Revised Statutes 159-3
  • Meat or meat products: means any product capable of use as human food which is made wholly or in part from any meat or other portions of the carcass of any cattle, sheep, swine, or goats, excepting products which contain meat or other portions of the carcasses only in a relatively small proportion or historically have not been considered by consumers as products of the meat food industry, and which are exempted from the definition as meat products by the board under the conditions as it may prescribe to assure that the meat or other portions of the carcasses contained in the products are not adulterated and that the products are not represented as meat products. See Hawaii Revised Statutes 159-3
  • month: means a calendar month; and the word "year" a calendar year. See Hawaii Revised Statutes 1-20
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Official certificate: means any certificate prescribed by the board for issuance by veterinarians, inspectors, or other persons performing official functions under this chapter. See Hawaii Revised Statutes 159-3
  • Official device: means any device described or authorized by the board for use in applying any official mark. See Hawaii Revised Statutes 159-3
  • Official inspection legend: means any symbol prescribed by the board showing that meat or meat products were inspected and passed in accordance with this chapter. See Hawaii Revised Statutes 159-3
  • Official mark: means the official inspection legend or any other symbol prescribed by the board to identify the status of any meat or meat products or animal under this chapter. See Hawaii Revised Statutes 159-3
  • 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.
  • Permittee: means the holder of a permit provided for in § 244D-2. See Hawaii Revised Statutes 244D-1
  • Person: means an individual, partnership, society, unincorporated association, joint adventure, group, hui, joint stock company, corporation, trustee, or other fiduciary, or other entity. See Hawaii Revised Statutes 244D-1
  • 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 an individual, corporation, government, or governmental subdivision or agency, business trust, estate, trust, partnership, unincorporated association, two or more of any of the foregoing having a joint or common interest, or any other legal or commercial entity. See Hawaii Revised Statutes 484-1
  • Person: means any individual, firm, corporation, association, or partnership, or any organized group of persons whether incorporated or not. See Hawaii Revised Statutes 159-3
  • Personal property: All property that is not real property.
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Probate: Proving a will
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • 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
  • Renderer: means any person engaged in the business of rendering carcasses, or parts or products of the carcasses, of cattle, sheep, swine, goats, horses, mules, other equines, or exotic animals, except rendering conducted under inspection under part IV. See Hawaii Revised Statutes 159-3
  • Sale: means any transfer of title or possession, or both, exchange or barter, in any manner or by any means whatsoever, for a consideration. See Hawaii Revised Statutes 244D-1
  • Secretary of Agriculture: means the Secretary of Agriculture of the United States. See Hawaii Revised Statutes 159-3
  • Service of process: The service of writs or summonses to the appropriate party.
  • Sparkling wine: means champagne and any other effervescent wine charged with more than 0. See Hawaii Revised Statutes 244D-1
  • State: means the State of Hawaii. See Hawaii Revised Statutes 159-3
  • Still wine: means any nonsparkling wine and shall include those wines containing not more than 0. See Hawaii Revised Statutes 244D-1
  • Subpoena: A command to a witness to appear and give testimony.
  • 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
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • this State: means the State of Hawaii, its political subdivisions, agencies, and departments. See Hawaii Revised Statutes 412:1-109
  • Trustee: A person or institution holding and administering property in trust.
  • Use: means any use, whether such use is of such nature as to cause the property to be appreciably consumed or not, or the keeping of such property for such use or for sale, and shall include the exercise of any right or power over tangible personal property incident to the ownership of that property. See Hawaii Revised Statutes 244D-1
  • Wholesaler: means any person who buys or sells carcasses, parts of carcasses, meat or meat products of cattle, sheep, swine, goats, horses, mules, other equines, or exotic animals in trade channels other than retail. See Hawaii Revised Statutes 159-3
  • Wine: means the product obtained from normal alcoholic fermentation of the juice of sound ripe grapes or other agricultural products containing natural or added sugar or any such alcoholic beverage to which is added grape brandy, fruit brandy, or spirits of wine, which is distilled from the particular agricultural product or products of which the wine is made and other rectified wine products and by whatever name and which contains not more than twenty-four per cent of alcohol by volume, and includes vermouth and sake, known as Japanese rice wine, but does not include cooler beverage. See Hawaii Revised Statutes 244D-1
  • wine gallon: means that liquid measure containing one hundred twenty-eight fluid ounces (3. See Hawaii Revised Statutes 244D-1