Terms Used In Hawaii Revised Statutes > Chapter 431 > Article 16 > Part II - Life and Disability Insurance Guaranty Association

• Account: means any of the three accounts created under section 431:16-206(a). See Hawaii Revised Statutes 431:16-205
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• 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.
• Appeals board: means the labor and industrial relations appeals board established by § 371-4. See Hawaii Revised Statutes 397-3
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Association: means the Hawaii life and disability insurance guaranty association created under § 431:16-206. See Hawaii Revised Statutes 431:16-205
• Attorney general: means the state attorney general or deputy attorneys general. See Hawaii Revised Statutes 245-1
• authorized: when used in the context of assessments means a resolution by the board of directors that has been passed whereby an assessment will be called immediately or in the future from member insurers for a specified amount. See Hawaii Revised Statutes 431:16-205
• 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}
• Boiler: means a closed vessel in which water or other liquid is heated, steam or vapor is generated, steam or vapor is superheated, or any combination thereof under pressure for use external to itself, by the direct application of energy from the combustion of fuels, or from electricity or solar energy. See Hawaii Revised Statutes 397-3
• called: when used in the context of assessments means a notice that has been issued by the association to member insurers requiring that an authorized assessment be paid within the time frame set forth within the notice. See Hawaii Revised Statutes 431:16-205
• causes to be shipped: means to send by any means of transportation, including by vessel, vehicle, or aircraft. See Hawaii Revised Statutes 245-1
• Cigarette: means any roll for smoking made wholly or in part of tobacco, irrespective of size and shape and whether or not the tobacco is flavored, adulterated, or mixed with any other ingredient, the wrapper or cover of which is made of paper or any other substance or material except tobacco. See Hawaii Revised Statutes 245-1
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• contract owner: means the person who is identified as the legal owner under the terms of the policy or contract or who is otherwise vested with legal title to the policy or contract through a valid assignment completed in accordance with the terms of the policy or contract and properly recorded as the owner on the books of the insurer. See Hawaii Revised Statutes 431:16-205
• Contractual obligation: means any obligation under a policy or contract or certificate under a group policy or contract, or portion thereof for which coverage is provided under § 431:16-203. See Hawaii Revised Statutes 431:16-205
• 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.
• Covered policy: means any policy or contract or portion of a policy or contract for which coverage is provided under § 431:16-203. See Hawaii Revised Statutes 431:16-205
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Dealer: means any person coming into the possession of cigarettes or tobacco products which have not been acquired from an authorized permit holder or licensee under this chapter, or any person rendering a distribution service who buys and maintains, at the person's place of business, a stock of cigarettes or tobacco products that have not been acquired from a licensee and who distributes or uses such cigarettes or tobacco products. See Hawaii Revised Statutes 245-1
• Department: means the department of taxation. See Hawaii Revised Statutes 245-1
• Department: means the department of labor and industrial relations. See Hawaii Revised Statutes 397-3
• Director: means the director of labor and industrial relations. See Hawaii Revised Statutes 397-3
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• distribution: means to sell, ship, transfer, give, or deliver to another, or to leave, barter, or exchange with another, or to offer or agree to do the same. See Hawaii Revised Statutes 245-1
• Donor: The person who makes a gift.
• Elevator: means a hoisting and lowering mechanism permanently installed in a structure, designed to carry passengers or authorized personnel, equipped with a car or platform which moves in fixed guides and serves two or more fixed landings. See Hawaii Revised Statutes 397-3
• Employee: means a person who may be permitted, required, or directed by an employer for wages or pay to engage in any employment and who has been employed by that employer for at least one year immediately preceding the commencement of leave provided under this chapter. See Hawaii Revised Statutes 398A-1
• Employee benefits: means all benefits, other than salary and wages, provided or made available to an employee by an employer and includes group life insurance, health insurance, disability insurance, and pensions, regardless of whether benefits are provided by a policy or practice of an employer. See Hawaii Revised Statutes 398A-1
• Employer: means any private:

  (1) Person;

  (2) Partnership;

  (3) Corporation;

  (4) Association; or

  (5) Other business entity,

  that employs fifty or more employees. See Hawaii Revised Statutes 398A-1

• Entity: means one or more individuals, a company, corporation, a partnership, an association, or any other type of legal entity. See Hawaii Revised Statutes 245-1
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• 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.
• Extra-contractual claims: shall include , but not be limited to, claims relating to bad faith in the payment of claims, punitive or exemplary damages, or attorneys' fees and costs. See Hawaii Revised Statutes 431:16-205
• 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.
• 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.
• Germane: On the subject of the pending bill or other business; a strict standard of relevance.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Impaired insurer: means a member insurer that after July 1, 1988, is not an insolvent insurer, and is placed under an order of rehabilitation or conservation by a court of competent jurisdiction. See Hawaii Revised Statutes 431:16-205
• Insolvent insurer: means a member insurer that after July 1, 1988, is placed under an order of liquidation by a court of competent jurisdiction with a finding of insolvency. See Hawaii Revised Statutes 431:16-205
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• 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.
• Licensee: means the holder of a license as a wholesaler or dealer granted under this chapter. See Hawaii Revised Statutes 245-1
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Member insurer: means any insurer licensed or who holds a certificate of authority to transact in this State any kind of insurance for which coverage is provided under § 431:16-203, and includes any insurer whose license or certificate of authority in this State may have been suspended, revoked, not renewed, or voluntarily withdrawn, but does not include:

  (1) A nonprofit hospital or medical service organization;

  (2) A health maintenance organization;

  (3) A fraternal benefit society;

  (4) A mandatory state pooling plan;

  (5) A mutual assessment company or any entity that operates on an assessment basis;

  (6) An insurance exchange;

  (7) An organization that has a certificate or license limited to the issuance of charitable gift annuities; or

  (8) Any entity similar to any of the above. See Hawaii Revised Statutes 431:16-205

• month: means a calendar month; and the word "year" a calendar year. See Hawaii Revised Statutes 1-20
• oath: includes a solemn affirmation. See Hawaii Revised Statutes 1-21
• Oath: A promise to tell the truth.
• 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.
• 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.
• Person: means any individual, corporation, limited liability company, partnership, association, governmental body or entity, or voluntary organization. See Hawaii Revised Statutes 431:16-205
• Personal property: All property that is not real property.
• Persons: means one or more people, a company, corporation, a partnership, or an association. See Hawaii Revised Statutes 245-1
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Possession: means knowingly having direct physical control at a given time or knowingly having the power and the intention, at a given time, to exercise dominion or control, either directly or through another entity. See Hawaii Revised Statutes 245-1
• 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.
• Premiums: means amounts and considerations received on covered policies or contracts less premiums, considerations and deposits returned thereon, and less dividends and experience credits thereon. See Hawaii Revised Statutes 431:16-205
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Receivership court: means the court in the insolvent or impaired insurer's state having jurisdiction over the conservation, rehabilitation, or liquidation of the insurer. See Hawaii Revised Statutes 431:16-205
• Resident: means a person to whom a contractual obligation is owed and who resides in this State on the date of entry of a court order that determines a member insurer to be an impaired insurer or an insolvent insurer. See Hawaii Revised Statutes 431:16-205
• Sale: includes every act of selling and includes any sale or act of selling that originates from any order that is placed or submitted by means of a telephonic or other method of voice transmission, the mail, or any other delivery service, or the Internet or other online service. See Hawaii Revised Statutes 245-1
• Sell: means to:

  (1) Solicit and receive an order for;

  (2) Have, keep, offer, or expose for sale;

  (3) Deliver for value or deliver in any other way than purely gratuitously;

  (4) Peddle;

  (5) Keep with intent to sell; and

  (6) Traffic in. See Hawaii Revised Statutes 245-1

• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• sold: includes any delivery of cigarettes or tobacco products, whether cash is actually paid therefor or not. See Hawaii Revised Statutes 245-1
• Stamp: means a stamp printed, manufactured, or made by authority of the department, as provided in this chapter, that is issued, sold, or circulated by the department, and by the use of which the tax levied under this chapter is paid. See Hawaii Revised Statutes 245-1
• State: means a state, the District of Columbia, Puerto Rico, or a United States possession, territory, or protectorate. See Hawaii Revised Statutes 431:16-205
• Structured settlement annuity: means an annuity purchased to fund periodic payments for a plaintiff or other claimant in payment for or with respect to personal injury suffered by the plaintiff or other claimant. See Hawaii Revised Statutes 431:16-205
• Subpoena: A command to a witness to appear and give testimony.
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Tobacco products: means :
  (1) Tobacco in any form, other than cigarettes or little cigars, that is prepared or intended for consumption or for personal use by humans, including large cigars and any substitutes thereof other than cigarettes that bear the semblance thereof, snuff, chewing or smokeless tobacco, and smoking or pipe tobacco; or
  (2) Electronic smoking devices; or
  (3) E-liquid. See Hawaii Revised Statutes 245-1
• Trustee: A person or institution holding and administering property in trust.
• Unallocated annuity contract: means any annuity contract or group annuity certificate that is not issued to and owned by an individual, except to the extent of any annuity benefits guaranteed to an individual by an insurer under such contract or certificate. See Hawaii Revised Statutes 431:16-205
• Use: means the exercise of any right or power incident to ownership or possession, other than the sale, or the keeping or retention for the purpose of sale. See Hawaii Revised Statutes 245-1
• Venue: The geographical location in which a case is tried.
• Verdict: The decision of a petit jury or a judge.
• Wholesaler: means a person rendering a distribution service who buys and maintains, at the person's place of business, a stock of cigarettes or tobacco products that the person uses, possesses, or distributes only to retailers, or other wholesalers, or both. See Hawaii Revised Statutes 245-1