Terms Used In Hawaii Revised Statutes > Chapter 431 > Article 3 > Part IV - Risk-Based Capital for Insurers

• Adjusted risk-based capital report: means a risk-based capital report that has been adjusted by the commissioner in accordance with section 431:3-402(f). See Hawaii Revised Statutes 431:3-401
• Applicant: means the person applying for a permit to operate as a hemp processor under this chapter. See Hawaii Revised Statutes 328G-1
• Artificially derived cannabinoid: means a chemical substance that is created by a chemical reaction that changes the molecular structure of any chemical substance derived from the plant genus cannabis. See Hawaii Revised Statutes 328G-1
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Authorized control level risk-based capital: means , with respect to any insurer, the number determined under the risk-based capital formula in accordance with the risk-based capital instructions; and

  (4) "Mandatory control level risk-based capital" means, with respect to any insurer, the product of 0. See Hawaii Revised Statutes 431:3-401

• Bar: means an establishment that is devoted to the serving of alcoholic beverages for consumption by guests on the premises regardless of whether food is served, including but not limited to taverns, cocktail lounges, and cabarets, including outdoor areas of bars. See Hawaii Revised Statutes 328J-1
• Benefit society: means a mutual benefit society registered under section 432:1-301 or a fraternal benefit society organized under § 432:2-301. See Hawaii Revised Statutes 431:3-401
• Building: means any area enclosed or partially enclosed by a roof and at least three walls. See Hawaii Revised Statutes 328J-1
• Business: means a sole proprietorship, partnership, joint venture, corporation, or other business entity, either for-profit or not-for-profit, including retail establishments where goods or services are sold, professional corporations, and other entities where legal, medical, dental, engineering, architectural, or other professional services are delivered. See Hawaii Revised Statutes 328J-1
• Buyer: means a person that buys or contracts to buy a vessel. See Hawaii Revised Statutes 200A-2
• Cannabinoids: means any of the various naturally occurring, biologically active, chemical constituents of cannabis that bind to or interact with receptors of the endogenous cannabinoid system. See Hawaii Revised Statutes 328G-1
• Cannabis: means the genus of the flowering plant in the family Cannabaceae. See Hawaii Revised Statutes 328G-1
• Certificate of origin: includes a manufacturer's certificate or statement of origin and an importer's certificate or statement of origin. See Hawaii Revised Statutes 200A-2
• Certificate of title: means a record, created by the department under this chapter or by a governmental agency of another jurisdiction under the law of that jurisdiction, that is designated as a certificate of title by the department or agency and is evidence of ownership of a vessel. See Hawaii Revised Statutes 200A-2
• Conviction: A judgement of guilt against a criminal defendant.
• 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.
• Corrective order: means an order issued by the commissioner specifying corrective actions which the commissioner has determined are required. See Hawaii Revised Statutes 431:3-401
• Council: means the Kaneohe Bay regional council. See Hawaii Revised Statutes 200D-1
• county: includes the city and county of Honolulu. See Hawaii Revised Statutes 1-22
• Decarboxylated: means the completion of the chemical reaction that converts naturally occurring cannabinoid acid into a cannabinoid, including delta-9 tetrahydrocannabinol's acids (THCA) into delta-9-tetrahydrocannabinol. See Hawaii Revised Statutes 328G-1
• Department: means the department of business, economic development, and tourism. See Hawaii Revised Statutes 201-1
• Department: means the department of health. See Hawaii Revised Statutes 328G-1
• Department: means the department of land and natural resources. See Hawaii Revised Statutes 200A-2
• Department: means the department of health. See Hawaii Revised Statutes 328J-1
• Director: means the director of health. See Hawaii Revised Statutes 328G-1
• Director: means the director of health. See Hawaii Revised Statutes 328J-1
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Domestic insurer: includes an insurer, a benefit society or a health maintenance organization. See Hawaii Revised Statutes 431:3-401
• Dry weight basis: refers to a method of determining the percentage of a chemical in a substance after removing the moisture from the substance. See Hawaii Revised Statutes 328G-1
• Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See Hawaii Revised Statutes 200A-2
• Electronic smoking device: means any electronic product that can be used to aerosolize and deliver nicotine or other substances to the person inhaling from the device, including but not limited to an electronic cigarette, electronic cigar, electronic cigarillo, electronic pipe, hookah pipe, or hookah pen, and any cartridge or other component of the device or related product, whether or not sold separately. See Hawaii Revised Statutes 328J-1
• Employee: means a person who is employed by an employer in consideration for direct or indirect monetary wages or profit, and a person who volunteers the person's services for a nonprofit entity. See Hawaii Revised Statutes 328J-1
• Employer: means a person, business, partnership, association, corporation, including the State or any of its political subdivisions, a trust, or nonprofit entity that employs the services of one or more individual persons, but shall not include the United States. See Hawaii Revised Statutes 328J-1
• Enclosed indoor facility: means a permanent, stationary structure with a solid floor, rigid exterior walls that encircle the entire structure on all sides, and a roof that protects the entire interior area from the elements of weather. See Hawaii Revised Statutes 328G-1
• Enclosed or partially enclosed: means closed in by a roof or overhang and at least two walls. See Hawaii Revised Statutes 328J-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.
• Ex officio: Literally, by virtue of one's office.
• FDA: means the United States Food and Drug Administration. See Hawaii Revised Statutes 328G-1
• Good faith: means honesty in fact and the observance of reasonable commercial standards of fair dealing. See Hawaii Revised Statutes 200A-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.
• Health care facility: means an office or institution, including all waiting rooms, hallways, private rooms, semiprivate rooms, and wards, which provides care or treatment of diseases, whether physical, mental, or emotional, or other medical, physiological, or psychological conditions, including but not limited to hospitals, rehabilitation hospitals or other clinics, including weight control clinics, nursing homes, homes for the aging or chronically ill, laboratories, and offices of surgeons, chiropractors, physical therapists, physicians, dentists, and all specialists within these professions. See Hawaii Revised Statutes 328J-1
• Health maintenance organization: means a health maintenance organization authorized under § 432D-2. See Hawaii Revised Statutes 431:3-401
• Hemp: means Cannabis sativa L. See Hawaii Revised Statutes 328G-1
• Hemp biomass: means the leaf and floral parts of hemp plant material. See Hawaii Revised Statutes 328G-1
• Hemp processor: means a person who processes hemp biomass or prepares a manufactured hemp product. See Hawaii Revised Statutes 328G-1
• Hull identification number: means the alphanumeric designation assigned to a vessel pursuant to title Title 33 of the Code of Federal Regulations, Part 181, as amended. See Hawaii Revised Statutes 200A-2
• 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.
• Knowledge: means actual knowledge. See Hawaii Revised Statutes 200A-2
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Life or accident and health or sickness insurer: means any insurer that is within the definition of § 431:1-204 or 431:1-205 and is licensed under article 3, or a licensed property and casualty insurer writing only accident and health or sickness insurance. See Hawaii Revised Statutes 431:3-401
• Manufactured hemp product: means a product created by processing, as defined in this chapter, that:
  (1) Is either:

  (A) Intended to be consumed orally to supplement the human or animal diet in tablet, capsule, powder, softgel, gelcap, or liquid form (e. See Hawaii Revised Statutes 328G-1
• Master plan: means the Kaneohe Bay master plan developed pursuant to Act 208, Session Laws of Hawaii 1990, and amended by section 200D-3. See Hawaii Revised Statutes 200D-1
• Members: means the members of the Kaneohe Bay regional council. See Hawaii Revised Statutes 200D-1
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Negative trend: means , with respect to a life or accident and health or sickness insurer, a negative trend over a period of time, as determined in accordance with the "trend test calculation" included in the risk-based capital instructions. See Hawaii Revised Statutes 431:3-401
• Owner: means a person that has legal title to a vessel. See Hawaii Revised Statutes 200A-2
• 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.
• Permit: means the certificate issued by the department attesting that the applicant is permitted to operate as a hemp processor. See Hawaii Revised Statutes 328G-1
• Person: means an individual, firm, corporation, partnership, association, or any form of business or legal entity. See Hawaii Revised Statutes 328G-1
• Person: means an individual; corporation; business trust; estate; trust; statutory trust; partnership; limited liability company; association; joint venture; public corporation; government or governmental subdivision, agency, or instrumentality; or any other legal or commercial entity. See Hawaii Revised Statutes 200A-2
• Processing: means :
  (1) Making a transformative change to hemp biomass following harvest by converting it into a crude extract or manufactured hemp product; or
  (2) Compounding, blending, extracting, infusing, or otherwise producing a manufactured hemp product by:

  (A) Completing the manufacturing process of transforming crude extract into a manufactured hemp product; or

  (B) Using a manufactured hemp product as an ingredient in the production of another manufactured hemp product. See Hawaii Revised Statutes 328G-1
• Property and casualty insurer: means any insurer that is within the definition of § 431:1-206, 431:1-207, 431:1-208, 431:1-209, 431:1-210, or 431:1-211 and is licensed under article 3, but shall not include monoline mortgage guaranty insurers, financial guaranty insurers, and title insurers. See Hawaii Revised Statutes 431:3-401
• Purchaser: means a person that takes by purchase. See Hawaii Revised Statutes 200A-2
• Quorum: The number of legislators that must be present to do business.
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Hawaii Revised Statutes 200A-2
• Regulatory action level risk-based capital: means , with respect to any insurer, the product of 1. See Hawaii Revised Statutes 431:3-401
• restaurant: includes a bar area within the restaurant and outdoor areas of restaurants. See Hawaii Revised Statutes 328J-1
• Risk-based capital instructions: means the risk-based capital report including risk-based capital instructions adopted by the National Association of Insurance Commissioners, as such risk-based capital instructions may be amended by the National Association of Insurance Commissioners from time to time in accordance with the procedures adopted by the National Association of Insurance Commissioners. See Hawaii Revised Statutes 431:3-401
• Security interest: includes any interest of a consignor in a vessel in a transaction that is subject to article 9 of chapter 490. See Hawaii Revised Statutes 200A-2
• Smoking: includes the use of an electronic smoking device. See Hawaii Revised Statutes 328J-1
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• Synthetic cannabinoid: means a cannabinoid that is:
  (1) Produced artificially, whether from chemicals or from recombinant biological agents including but not limited to yeast and algae; and
  (2) Not derived from the genus cannabis, including biosynthetic cannabinoids. See Hawaii Revised Statutes 328G-1
• Testify: Answer questions in court.
• Tetrahydrocannabinol: means the cannabinoids that functions as the primary psychoactive component of cannabis. See Hawaii Revised Statutes 328G-1
• Title brand: means a designation of previous damage, use, or condition that shall be indicated on a certificate of title. See Hawaii Revised Statutes 200A-2
• Tobacco product: means any product made or derived from tobacco, that contains nicotine or other substances, and is intended for human consumption or is likely to be consumed, whether smoked, heated, chewed, absorbed, dissolved, inhaled, or ingested by any other means, including, but not limited to, a cigarette, cigar, pipe tobacco, chewing tobacco, snuff, snus, or an electronic smoking device. See Hawaii Revised Statutes 328J-1
• trend test calculation: include d in the risk-based capital instructions. See Hawaii Revised Statutes 431:3-401
• Vessel: means any watercraft used or capable of being used as a means of transportation on water, except:
  (1) An amphibious vehicle for which a certificate of title is issued pursuant to part III of chapter 286 or a similar statute of another state;
  (2) A watercraft less than eight feet in length and propelled solely by sail, paddle, oar, or an engine of less than ten horsepower;
  (3) A watercraft that operates only on a permanently fixed, manufactured course and the movement of which is restricted to or guided by means of a mechanical device to which the watercraft is attached or by which the watercraft is controlled;
  (4) A stationary floating structure that:

  (A) Does not have and is not designed to have a mode of propulsion of its own;

  (B) Is dependent for utilities upon a continuous utility hookup to a source originating on shore; and

  (C) Has a permanent, continuous hookup to a shoreside sewage system;
  (5) A watercraft owned by the United States; a state; a foreign government; or a political subdivision of the United States, a state, or a foreign government; and
  (6) A watercraft used solely as a lifeboat on another watercraft. See Hawaii Revised Statutes 200A-2
• Vessel number: means the alphanumeric designation for a vessel issued pursuant to title 46 United States Code § 12301, as amended. See Hawaii Revised Statutes 200A-2