Terms Used In Hawaii Revised Statutes > Chapter 420D - Sustainable Business Corporations

• 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.
• 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.
• 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.
• 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}
• Benefit director: means the director designated as the benefit director of a sustainable business corporation under § 420D-7. See Hawaii Revised Statutes 420D-2
• Benefit officer: means the individual designated as the benefit officer of a sustainable business corporation under § 420D-9. See Hawaii Revised Statutes 420D-2
• Bicycle: means :
  (1) A device propelled solely by human power upon which any person may ride, having two tandem wheels sixteen inches in diameter or greater, and including any device generally recognized as a bicycle though equipped with two front or two rear wheels; or
  (2) A low-speed electric bicycle, as defined under title 15 United States Code § 2085. See Hawaii Revised Statutes 249-1
• Contract: A legal written agreement that becomes binding when signed.
• 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
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Dependent: A person dependent for support upon another.
• Director: means the state director of finance unless otherwise stated or indicated in context. See Hawaii Revised Statutes 248-1
• Director of finance: means the director of finance of each county or of the county concerned, and includes the director's duly authorized deputies and subordinates. See Hawaii Revised Statutes 249-1
• Electric foot scooter: means a device:
  (1) Weighing less than seventy-five pounds;
  (2) With two or three wheels;
  (3) With handlebars;
  (4) With either:

  (A) A floorboard that can be stood upon while riding; or

  (B) A seat or saddle for the use of the rider and stationary footrests;
  (5) That is powered by an electric motor or human power; and
  (6) Whose maximum speed, with or without human propulsion on a paved level surface, does not exceed fifteen miles per hour. See Hawaii Revised Statutes 249-1
• 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.
• 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.
• General public benefit: means a material positive impact on society and the environment, taken as a whole and as measured by a third-party standard under section 420D-12, from the business and operations of a sustainable business corporation. See Hawaii Revised Statutes 420D-2
• 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.
• Independent: means having no material relationship with a sustainable business corporation or any of its subsidiaries. See Hawaii Revised Statutes 420D-2
• 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.
• Material relationship: means a relationship between a person and a sustainable business corporation where:

  (1) The person is, or has been within the last three years, an employee other than a benefit officer of the sustainable business corporation or any of its subsidiaries;

  (2) The person is related by blood, marriage, or adoption to; is a party to a civil union with; is a reciprocal beneficiary or household member of; or resides with an officer other than a benefit officer or director of the sustainable business corporation or any of its subsidiaries; or

  (3) The person or an association of which the person is a director, officer, or manager or in which the person owns beneficially or of record five per cent or more of the outstanding equity interests or the outstanding shares of the sustainable business corporation; provided that percentage ownership in an association shall be calculated as if all outstanding rights to acquire equity interests in the association had been exercised. See Hawaii Revised Statutes 420D-2

• Member: means an individual who is covered by a mutual benefit society. See Hawaii Revised Statutes 432:1-406
• Minimum status vote: means that in addition to any other approval or vote required by this chapter or the bylaws adopted by the shareholders:

  (1) The holders of shares of every class or series shall be entitled to vote on the corporate action regardless of any limitation stated in the articles of incorporation or bylaws on the voting rights of any class or series; and

  (2) The corporate action shall be approved by vote of the shareholders of each class or series entitled to cast at least two-thirds of the votes that all shareholders of the class or series are entitled to cast thereon. See Hawaii Revised Statutes 420D-2

• month: means a calendar month; and the word "year" a calendar year. See Hawaii Revised Statutes 1-20
• Moped: means a device upon which a person may ride that has :
  (1) Two or three wheels in contact with the ground;
  (2) A motor having a maximum power output capability measured at the motor output shaft, in accordance with SAE International standards, of two horsepower (one thousand four hundred ninety-two watts) or less and, if it is a combustion engine, a maximum piston or rotor displacement of 3. See Hawaii Revised Statutes 249-1
• Motor vehicle: means every vehicle which is self-propelled and every vehicle which is propelled by electric power but which is not operated upon rails, but excludes mopeds. See Hawaii Revised Statutes 249-1
• net weight: means the actual weight of such vehicle, as determined on a standard scale, including all equipment and accessories ordinarily attached to and used on the vehicle and, in the case of a motor vehicle, the maximum fuel, oil, and water possible of being carried for its operation. See Hawaii Revised Statutes 249-1
• 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.
• Oversight: Committee review of the activities of a Federal agency or program.
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• 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.
• Society: means mutual benefit society. See Hawaii Revised Statutes 432:1-406
• Sustainable business corporation: means a domestic corporation, incorporated under chapter 414, that has elected to also become subject to this chapter and whose status as a sustainable business corporation has not been terminated as provided in this chapter. See Hawaii Revised Statutes 420D-2
• Third-party standard: means a standard for defining, reporting, and assessing overall corporate social and environmental performance that conforms to the requirements of this chapter. See Hawaii Revised Statutes 420D-2
• Truck: means any motor vehicle designed or used primarily for the carriage of property other than effects of the driver or passengers, and includes a motor vehicle to which has been added a box, platform, or other equipment for such carriage. See Hawaii Revised Statutes 249-1
• Vehicle: means every device in, upon, or by which any person or property is or may be transported or drawn upon a highway, but excludes devices moved by human power or devices used exclusively upon stationary rails or tracks and mopeds. See Hawaii Revised Statutes 249-1