|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