414E-1 Definitions
414E-2 Control share acquisitions

Terms Used In Hawaii Revised Statutes > Chapter 414E - Control Share Acquisitions

  • Acquiring person: means a person who is required to deliver an information statement. See Hawaii Revised Statutes 414E-1
  • 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.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Buyer: means a person who buys or contracts to buy goods. See Hawaii Revised Statutes 490:2-103
  • Contract: A legal written agreement that becomes binding when signed.
  • Control share acquisition: means an acquisition of shares of an issuing public corporation resulting in beneficial ownership by an acquiring person of a new range of voting power specified in this chapter, but does not include an acquisition:

         (1)  Before or pursuant to an agreement entered into before July 1, 1987;

         (2)  By a donee pursuant to an inter vivos gift not made to avoid this chapter or by a distributee as defined in chapter 560;

         (3)  Pursuant to a security agreement not created to avoid this chapter;

         (4)  Pursuant to a merger or share exchange executed in accordance with applicable law, if the issuing public corporation is a party to the plan of merger or share exchange;

         (5)  From the issuing public corporation;

         (6)  That is approved by resolution of the board of directors of the issuing public corporation before the acquisition occurs; or

         (7)  That the board of directors of the issuing public corporation determines, by resolution before the acquisition occurs, is not a control share acquisition. See Hawaii Revised Statutes 414E-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
  • Donee: The recipient of a gift.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Inter vivos: Transfer of property from one living person to another living person.
  • Issuing public corporation: means a corporation incorporated in this State with at least one hundred shareholders and having its principal place of business or substantial assets located in this State. See Hawaii Revised Statutes 414E-1
  • 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.
  • Seller: means a person who sells or contracts to sell goods. See Hawaii Revised Statutes 490:2-103