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.
  • 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.
  • 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.
  • Goods: means all things that are movable at the time of identification to the lease contract, or are fixtures (section 490:2A-309), but the term does not include money, documents, instruments, accounts, chattel paper, general intangibles, or minerals or the like, including oil and gas, before extraction. See Hawaii Revised Statutes 490:2A-103
  • Hazardous material: means a substance or material which has been determined by the United States Secretary of Transportation to be capable of posing an unreasonable risk to health, safety, and property when transported in commerce, and which has been so designated. See Hawaii Revised Statutes 286-221
  • Hazardous materials incident: means an occurrence or likely occurrence or potential of a spill, release, leakage, dumping, or loss of control of a hazardous material during the course of transportation in commerce including loading, unloading, or temporary storage. See Hawaii Revised Statutes 286-221
  • 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
  • Lease: means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. See Hawaii Revised Statutes 490:2A-103
  • 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
  • Lease contract: means the total legal obligation that results from the lease agreement as affected by this article and any other applicable rules of law. See Hawaii Revised Statutes 490:2A-103
  • Lessor: means a person who transfers the right to possession and use of goods under a lease. See Hawaii Revised Statutes 490:2A-103
  • 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.