Terms Used In Hawaii Revised Statutes > Chapter 431 > Article 8 > Part III - Surplus Lines Insurance

• Acceptance: means a formal determination that the document required to be filed pursuant to § 343-5 fulfills the definition of an environmental impact statement, adequately describes identifiable environmental impacts, and satisfactorily responds to comments received during the review of the statement. See Hawaii Revised Statutes 343-2
• Action: means any program or project to be initiated by any agency or applicant. See Hawaii Revised Statutes 343-2
• Agency: means any department, office, board, or commission of the state or county government which is a part of the executive branch of that government. See Hawaii Revised Statutes 343-2
• 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.
• Applicant: means any person who, pursuant to statute, ordinance, or rule, officially requests approval for a proposed action. See Hawaii Revised Statutes 343-2
• 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
• Approval: means a discretionary consent required from an agency prior to actual implementation of an action. See Hawaii Revised Statutes 343-2
• Approved continuing education course: means a course approved by the commissioner following receipt of recommendations from insurance professionals. See Hawaii Revised Statutes 431:8-102
• Approved course provider: means an individual or entity that is approved to offer continuing education courses pursuant to article 9A. See Hawaii Revised Statutes 431:8-102
• Authority: means the Hawaii community development authority. See Hawaii Revised Statutes 206E-101
• Authority: means the Hawaii community development authority established by section 206E-3. See Hawaii Revised Statutes 206E-2
• Business entity: means an association, corporation, limited liability company, limited liability partnership, partnership, or other legal entity. See Hawaii Revised Statutes 431:8-102
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Council: means the environmental advisory council. See Hawaii Revised Statutes 343-2
• county: includes the city and county of Honolulu. See Hawaii Revised Statutes 1-22
• County: means any county of the State. See Hawaii Revised Statutes 206E-2
• Director: means the director of the office of planning and sustainable development. See Hawaii Revised Statutes 343-2
• Discretionary consent: means a consent, sanction, or recommendation from an agency for which judgment and free will may be exercised by the issuing agency, as distinguished from a ministerial consent. See Hawaii Revised Statutes 343-2
• Eligible borrower: means any person or family, irrespective of race, creed, national origin, or sex, who:

  (1) Has never before obtained a loan under this part; and

  (2) Meets other qualifications as established by rules adopted by the authority. See Hawaii Revised Statutes 206E-101

• Eligible loan: means a loan to an eligible borrower for the purchase of a reserved housing unit; provided that the property financed is located in the community development district, is and will be occupied as the principal place of residence by the eligible borrower, and meets other requirements as established by rules adopted by the authority. See Hawaii Revised Statutes 206E-101
• Environmental assessment: means a written evaluation to determine whether an action may have a significant effect. See Hawaii Revised Statutes 343-2
• 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.
• Exempt commercial purchaser: means any person purchasing commercial insurance which, at the time of placement, employs or retains a qualified risk manager to negotiate insurance coverage; and has paid aggregate nationwide commercial property and casualty insurance premiums in excess of $100,000 in the immediately preceding twelve months. See Hawaii Revised Statutes 431:8-102
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Fiduciary: A trustee, executor, or administrator.
• Fraud: Intentional deception resulting in injury to another.
• Home state: means , with respect to an insured, the state in which an insured maintains the insured's principal place of business or, in the case of an individual, the state in which the individual maintains the individual's principal residence; provided that if one hundred per cent of the insured risk is located out of the state where the insured maintains the insured's principal place of business or the state where the individual maintains the principal residence, the home state shall be the state where the greatest percentage of the insured's taxable premium for that insurance contract is allocated. See Hawaii Revised Statutes 431:8-102
• Inactive: means that the authority of a license issued by the commissioner is not in effect. See Hawaii Revised Statutes 431:8-102
• Individual: means a natural person. See Hawaii Revised Statutes 431:8-102
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
• 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.
• 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}
• License: means a document issued by the commissioner authorizing a person to act as a surplus lines broker as specified in the document. See Hawaii Revised Statutes 431:8-102
• Licensee: means a surplus lines broker licensed under this article. See Hawaii Revised Statutes 431:8-102
• Lien: A claim against real or personal property in satisfaction of a debt.
• Local governing body: means the county council. See Hawaii Revised Statutes 206E-2
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• 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.
• Office: means the office of planning and sustainable development. See Hawaii Revised Statutes 343-2
• Oversight: Committee review of the activities of a Federal agency or program.
• 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: includes any individual, partnership, firm, association, trust, estate, private corporation, or other legal entity other than an agency. See Hawaii Revised Statutes 343-2
• Personal property: All property that is not real property.
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Project: means a specific work or improvement, including real and personal properties, or any interest therein, acquired, owned, constructed, reconstructed, rehabilitated, or improved by the authority, including a commercial project, a redevelopment project, or a residential project, all as defined as follows, or any combination thereof, which combination shall hereinafter be called and known as a "multipurpose project". See Hawaii Revised Statutes 206E-2
• Public facilities: includes streets, utility and service corridors, and utility lines where applicable, sufficient to adequately service developable improvements in the district, sites for schools, parks, parking garage, sidewalks, pedestrian ways, and other community facilities. See Hawaii Revised Statutes 206E-2
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Real property: means lands, structures, and interests in land, including lands under water and riparian rights, space rights, and air rights and any and all other things and rights usually included within the term. See Hawaii Revised Statutes 206E-2
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Reserved housing: means housing designated for residents in the low- or moderate-income ranges who meet such eligibility requirements as the authority may adopt by rule. See Hawaii Revised Statutes 206E-101
• Reserved housing: means housing designated for residents in the low-income or moderate-income ranges who meet such eligibility requirements as the authority may adopt by rule. See Hawaii Revised Statutes 206E-2
• Reserved housing loan programs: includes all or any part of the loan to lenders program, the purchase of existing loans program, the advance commitments program, and the eligible loan and eligible project loan funding program authorized under this part. See Hawaii Revised Statutes 206E-101
• Residential project: means a project or that portion of a multipurpose project, including residential dwelling units, designed and intended for the purpose of providing housing and any facilities as may be incidental or appurtenant thereto. See Hawaii Revised Statutes 206E-2
• Revenue bonds: means bonds, notes, or other evidence of indebtedness of the authority issued to finance any of the reserved housing loan programs under this part. See Hawaii Revised Statutes 206E-101
• Service of process: The service of writs or summonses to the appropriate party.
• Significant effect: means the sum of effects on the quality of the environment, including actions that irrevocably commit a natural resource, curtail the range of beneficial uses of the environment, are contrary to the State's environmental policies or long-term environmental goals as established by law, or adversely affect the economic welfare, social welfare, or cultural practices of the community and State. See Hawaii Revised Statutes 343-2
• statement: means an informational document prepared in compliance with the rules adopted under § 343-6 and which discloses the environmental effects of a proposed action, effects of a proposed action on the economic welfare, social welfare, and cultural practices of the community and State, effects of the economic activities arising out of the proposed action, measures proposed to minimize adverse effects, and alternatives to the action and their environmental effects. See Hawaii Revised Statutes 343-2
• Statute: A law passed by a legislature.
• Surplus lines broker: means any person licensed under section 431:8-310 to place insurance on risks resident, located, or to be performed in this State with unauthorized insurers. See Hawaii Revised Statutes 431:8-102
• Surplus lines insurance: means any property and casualty insurance on risks procured from or placed with an unauthorized insurer under the laws of the insured's home state. See Hawaii Revised Statutes 431:8-102
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Trust indenture: means an agreement by and between the authority and the trustee, which sets forth the duties of the trustee with respect to the revenue bonds, the security therefor, and other provisions as deemed necessary or convenient by the authority to secure the revenue bonds. See Hawaii Revised Statutes 206E-101
• Trustee: A person or institution holding and administering property in trust.
• Trustee: means a national or state bank or trust company within or without the State which enters into a trust indenture. See Hawaii Revised Statutes 206E-101
• Unauthorized insurer: means an insurer not holding a valid certificate of authority to transact an insurance business in the state in which the subject resident is located or in which the insurance contract will be performed. See Hawaii Revised Statutes 431:8-102