484-1 Definitions
484-2 Administration
484-3 Exemptions
484-4 Prohibitions on dispositions of interests in subdivisions
484-5 Application for registration
484-6 Public offering statement
484-7 Notice of filing; inquiry and examination
484-8 Orders of registration and rejection; general provisions
484-8.5 Preliminary order of registration
484-8.6 Final order of registration
484-8.7 Copy of amended public offering statements to be given to prospective purchasers
484-8.8 Receipt for amended public offering statement
484-9 Annual report
484-10 General powers and duties
484-11 Investigations and proceedings
484-12 Cease and desist orders
484-13 Revocation
484-14 Judicial review
484-15 Penalties
484-16 Civil remedy
484-17 Jurisdiction
484-18 Interstate rendition
484-19 Service of process
484-20 Fees and inspection expenses
484-21 Uniformity of interpretation
484-22 Short title

Terms Used In Hawaii Revised Statutes > Chapter 484

  • Adherent yolk: means an egg in which the yolk has settled to one side and become fastened to the shell. See Hawaii Revised Statutes 147-71
  • Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
  • Adjournment sine die: The end of a legislative session "without day." These adjournments are used to indicate the final adjournment of an annual or the two-year session of legislature.
  • Adjusted gross estate: The gross estate, less funeral expenses, expenses of estate administration during probate, debts of the estate, and casualty losses suffered during estate administration.
  • Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
  • 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.
  • Agricultural commodity: means fresh fruits and fresh vegetables of every kind and character, whether or not frozen or packed in ice, whether produced in the State or imported, nuts, and coffee, whether cherry or parchment, or green beans, which have been produced in the State, and raw unprocessed honey, whether produced in the State or imported. See Hawaii Revised Statutes 147-1
  • Allegation: something that someone says happened.
  • 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.
  • Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. Source: FDIC
  • 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.
  • Antique pistol or revolver: means any pistol or revolver manufactured before 1899 and any replica thereof if it either is not designed or redesigned for using rimfire or conventional centerfire fixed ammunition or is designed or redesigned to use rimfire or conventional centerfire fixed ammunition that is no longer manufactured in the United States and is not readily available in the ordinary channels of commercial trade. See Hawaii Revised Statutes 134-1
  • 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.
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • Applicable generation-skipping transfer tax rate: means 2. See Hawaii Revised Statutes 236E-2
  • Appraisal: A determination of property value.
  • Appropriate federal regulatory agency: means , with respect to a financial institution or financial institution holding company, any one or more regulatory agencies of the federal government referred to in the following sentence which either (1) insures the deposits of the financial institution or financial institution holding company, or (2) has the power and duty to conduct periodic general examinations of the affairs of the financial institution or financial institution holding company by virtue of the legal characterization of the financial institution or financial institution holding company under federal law, and not by virtue of the fact of affiliation of the financial institution or financial institution holding company with any other person or an alleged violation of a specific law. See Hawaii Revised Statutes 412:1-109
  • 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.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
  • 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
  • Bequest: Property gifted by will.
  • Black rot: means an egg which has deteriorated to such an extent that the whole interior presents a blackened appearance before the candle. See Hawaii Revised Statutes 147-71
  • Blood ring: means an egg which contains blood. See Hawaii Revised Statutes 147-71
  • Business: includes all activities (personal, professional, or corporate) engaged in or caused to be engaged in with the object of gain or economic benefit either direct or indirect, but does not include casual sales. See Hawaii Revised Statutes 237-2
  • Capital: means :

         (1)  The aggregate par value or other amount received and allocated to the issued and outstanding capital stock of a financial institution; or

         (2)  The total amount of a credit union's outstanding and unimpaired membership shares or share accounts. See Hawaii Revised Statutes 412:1-109

  • Capital stock: means the units of interest, whether or not having a par value, common or preferred, legally issued by a financial institution or other corporation, which represents a fractional ownership interest in the institution or corporation. See Hawaii Revised Statutes 412:1-109
  • Chambers: A judge's office.
  • Chief of police: means the chief of police of the counties of Hawaii, Maui, Kauai, or the city and county of Honolulu. See Hawaii Revised Statutes 134-1
  • Circuit court: means the court established in each of the judicial circuits of this State pursuant to chapter 603 and which has jurisdiction under section 412:1-108 over a matter. See Hawaii Revised Statutes 412:1-109
  • Commissioner: means the commissioner of financial institutions of this State. See Hawaii Revised Statutes 412:1-109
  • Commissioner of securities: means the commissioner of securities as defined in section 485A-102. See Hawaii Revised Statutes 484-1
  • 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.
  • Common promotional plan: means a plan, undertaken by a single developer or group of developers acting in concert, to offer subdivided land for sale or lease; provided that where such land is offered for sale by the developer or group of developers acting in concert, and the land is contiguous or is known, designated, or advertised as a common unit or by a common name, the land shall be presumed, without regard to the number of lots covered by each individual offering, as being offered for sale or lease as part of a common promotional plan. See Hawaii Revised Statutes 484-1
  • Company: means any corporation, partnership, trust (business or otherwise), association, joint venture, pool syndicate, unincorporated organization, or any form of business entity not specifically listed herein and, unless specifically excluded, a financial institution; provided that "company" does not mean any trust existing on July 1, 1993, which under its terms must terminate within twenty-five years, or not later than twenty-one years and ten months after the death of individuals living on the effective date of the trust. See Hawaii Revised Statutes 412:1-109
  • company: includes every individual, partnership, society, unincorporated association, joint adventure, group, hui, joint stock company, corporation, trustee, personal representative, trust estate, decedent's estate, trust, trustee in bankruptcy, or other entity, whether such persons are doing business for themselves or in a fiduciary capacity, and whether the individuals are residents or nonresidents of the State, and whether the corporation or other association is created or organized under the laws of the State or of another jurisdiction. See Hawaii Revised Statutes 237-1
  • Compensation: means all benefits accorded by this chapter to an employee or the employee's dependents on account of a work injury as defined in this section; it includes medical and rehabilitation benefits, income and indemnity benefits in cases of disability or death, and the allowance for funeral and burial expenses. See Hawaii Revised Statutes 386-1
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Conservator: means a person appointed by the commissioner to take possession and control of a Hawaii financial institution for a temporary period in order to preserve and protect the assets of the institution for the benefit of its depositors, beneficiaries, creditors, and shareholders or members. See Hawaii Revised Statutes 412:1-109
  • Consumer: means any person purchasing eggs for the person's own family use or consumption, or a restaurant, hotel, boarding house, bakery, or other institution purchasing eggs for serving to guests or patrons, or for its or their use in cooking or baking. See Hawaii Revised Statutes 147-71
  • Contract: A legal written agreement that becomes binding when signed.
  • Contributions: means the amounts of money authorized by this chapter to be withheld from employees' wages for the payment of temporary disability benefits. See Hawaii Revised Statutes 392-3
  • Control: means , unless the context clearly requires otherwise, directly or indirectly, solely or through another person or transaction, or in concert with another:

         (1)  Owning or having the power to vote twenty-five per cent or more of any class of voting securities;

         (2)  Owning or having the power to exercise twenty-five per cent or more of the votes of a mutual association, credit union, or other entity whose voting rights are not determined by voting securities;

         (3)  Owning or having the power to vote ten per cent or more of any class of voting securities if:  (A) the issuer of that class of securities has issued any class of securities under section 12 of the Securities Exchange Act of 1934, as amended; or (B) immediately after the acquisition, no other person will own a greater percentage of that class of voting securities;

         (4)  Having the power to elect by any means a majority of the directors; or

         (5)  Having the power to exercise a dominant influence over management, if so determined by the commissioner after notice and a hearing. See Hawaii Revised Statutes 412:1-109

  • 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.
  • Counterclaim: A claim that a defendant makes against a plaintiff.
  • 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.
  • Decedent: A deceased person.
  • Decedent: means a deceased individual. See Hawaii Revised Statutes 236D-2
  • Decedent: means a deceased individual owning property in the State. See Hawaii Revised Statutes 236E-2
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Department: means the department of taxation. See Hawaii Revised Statutes 237D-1
  • Department: means the department of agriculture. See Hawaii Revised Statutes 142-101
  • Department: means the department of agriculture. See Hawaii Revised Statutes 142-111
  • Department: means the department of agriculture. See Hawaii Revised Statutes 147-1
  • Department: means the department of agriculture. See Hawaii Revised Statutes 147-111
  • Department: means the department of labor and industrial relations. See Hawaii Revised Statutes 386-1
  • Department: means the department of labor and industrial relations. See Hawaii Revised Statutes 392-3
  • Department: means the department of taxation. See Hawaii Revised Statutes 236D-2
  • Department: means the department of taxation. See Hawaii Revised Statutes 236E-2
  • Dependent: A person dependent for support upon another.
  • Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
  • Depository institution: means a financial institution that is authorized to accept deposits under its chartering or licensing authority and includes a bank, savings bank, savings and loan association, depository financial services loan company, credit union, or intra-Pacific bank. See Hawaii Revised Statutes 412:1-109
  • deposits: means money or its equivalent received or held by a person in the usual course of business and for which it has given or is obligated to give credit, either conditionally or unconditionally, to a demand, checking, savings, time, passbook, negotiable order of withdrawal, thrift, or share account, or which is evidenced by its passbook, certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument, or a check, draft, or share draft drawn against a deposit account and certified by a person, on which the person is primarily liable. See Hawaii Revised Statutes 412:1-109
  • Devise: To gift property by will.
  • Director: means the director of taxation. See Hawaii Revised Statutes 237D-1
  • Director: means the director of labor and industrial relations. See Hawaii Revised Statutes 386-1
  • Director: means the director of labor and industrial relations. See Hawaii Revised Statutes 392-3
  • Director: means any member of the board of directors of a financial institution, whether or not receiving compensation. See Hawaii Revised Statutes 412:1-109
  • Director: means the director of commerce and consumer affairs. See Hawaii Revised Statutes 484-1
  • Disability: means total inability of an employee to perform the duties of the employee's employment caused by sickness, pregnancy, termination of pregnancy, organ donation, or accident other than a work injury as defined in section 386‑3. See Hawaii Revised Statutes 392-3
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Disposition: includes sale, lease, assignment, award by lottery, or any other transaction concerning a subdivision, if undertaken for gain or profit. See Hawaii Revised Statutes 484-1
  • Division: means the division of financial institutions of the department of commerce and consumer affairs of this State. See Hawaii Revised Statutes 412:1-109
  • Docket: A log containing brief entries of court proceedings.
  • Donee: The recipient of a gift.
  • Eggs: means chicken eggs in the following forms:

         (1)  Uncooked in the shell; and

         (2)  Liquid, frozen, or dried whole egg meats, whites of eggs or egg yolks. See Hawaii Revised Statutes 147-71

  • Electric gun: means any portable device that is electrically operated to project a missile or electromotive force. See Hawaii Revised Statutes 134-1
  • Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
  • employed: means service, including service in interstate commerce, performed for wages under any contract of hire, written or oral, express or implied, with an employer, except as otherwise provided in sections 392-4 and 392-5. See Hawaii Revised Statutes 392-3
  • Employee: means any individual in the employment of another person. See Hawaii Revised Statutes 386-1
  • Employer: means any individual or type of organization, including the State, any of its political subdivisions, any instrumentality of the State or its political subdivisions, any partnership, association, trust, estate, joint stock company, insurance company, or corporation, whether domestic or foreign, or receiver or trustee in bankruptcy, or the legal representative of a deceased person, who has one or more individuals in employment during any day or portion of a day. See Hawaii Revised Statutes 392-3
  • Employment: means any service performed by an individual for another person under any contract of hire or apprenticeship, express or implied, oral or written, whether lawfully or unlawfully entered into. See Hawaii Revised Statutes 386-1
  • 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
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • 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.
  • Executor: A male person named in a will to carry out the decedent
  • Extradition: The formal process of delivering an accused or convicted person from authorities in one state to authorities in another state.
  • Failing financial institution: means a Hawaii financial institution or a federal financial institution whose operations are principally conducted in this State, and which:

         (1)  Is insolvent or has failed to make good an impairment of its capital and surplus as provided in section 412:2-314;

         (2)  Has incurred or is likely to incur losses that will deplete all or substantially all of its capital and surplus, and there is no reasonable prospect for such capital and surplus to be replenished without federal assistance; or

         (3)  Has violated or is violating laws, rules or regulations, or has committed or is committing an unsafe or unsound practice, and such violation or practice is likely to cause insolvency or a substantial dissipation of assets or is likely to severely weaken the institution's condition or otherwise seriously prejudice the interests of its depositors. See Hawaii Revised Statutes 412:2-500

  • Fair market rental value: means an amount equal to one-half of the gross daily maintenance fees that are paid by the owner and are attributable to the time share unit located in Hawaii. See Hawaii Revised Statutes 237D-1
  • 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.
  • Federal: means belonging to, part of, or related to the government of the United States of America. See Hawaii Revised Statutes 412:1-109
  • Federal credit: means :

         (1)  For a transfer, the maximum amount of the credit for state death taxes allowed by section 2011 of the Internal Revenue Code, as it existed on December 31, 2000, for the decedent's adjusted taxable estate;

         (2)  For a generation-skipping transfer, the maximum amount of the credit for state taxes allowed by section 2604 of the Internal Revenue Code as it existed on December 31, 2000; and

         (3)  For a noncitizen transfer, the maximum amount of the credit for state death taxes allowed by section 2102 of the Internal Revenue Code, as it existed on December 31, 2000, for the decedent's adjusted taxable estate. See Hawaii Revised Statutes 236D-2

  • Federal estate tax: means the tax due to the United States with respect to a taxable transfer under chapter 11 of the Internal Revenue Code. See Hawaii Revised Statutes 236E-2
  • Federal financial institution: means a national banking association, federal savings bank, federal savings and loan association or federal credit union. See Hawaii Revised Statutes 412:1-109
  • Federal generation-skipping transfer tax: means the tax due to the United States with respect to a taxable transfer under chapter 13 of the Internal Revenue Code. See Hawaii Revised Statutes 236E-2
  • Federal Home Loan Bank: means a federal home loan bank created and organized under the authority of the Federal Home Loan Bank Act. See Hawaii Revised Statutes 412:1-109
  • Federal Reserve Bank: means a federal reserve bank created and organized under the authority of the Federal Reserve Act. See Hawaii Revised Statutes 412:1-109
  • Federal Reserve Board: means the Board of Governors of the Federal Reserve System created and described in the Federal Reserve Act. See Hawaii Revised Statutes 412:1-109
  • 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
  • Federal return: means the federal estate tax return with respect to the federal estate tax and means the federal generation-skipping transfer tax return with respect to the federal generation-skipping transfer tax. See Hawaii Revised Statutes 236E-2
  • Federal taxable estate: means the gross estate less allowable deductions, as determined under chapter 11 of the Internal Revenue Code. See Hawaii Revised Statutes 236E-2
  • Federal transfer tax: means the federal estate tax or the federal generation-skipping transfer tax. See Hawaii Revised Statutes 236E-2
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Fiduciary: A trustee, executor, or administrator.
  • Financial institution: means a Hawaii financial institution, and unless the context indicates otherwise, a federal financial institution or foreign financial institution. See Hawaii Revised Statutes 412:1-109
  • Financial institution holding company: means a holding company which controls a Hawaii financial institution or which controls another financial institution holding company. See Hawaii Revised Statutes 412:1-109
  • Financial institution subsidiary: means :  (1) a financial institution that is controlled by a financial institution holding company, or (2) a financial institution holding company that is controlled by another holding company. See Hawaii Revised Statutes 412:1-109
  • Firearm: means any weapon, for which the operating force is an explosive, including but not limited to pistols, revolvers, rifles, shotguns, automatic firearms, noxious gas projectors, mortars, bombs, and cannon. See Hawaii Revised Statutes 134-1
  • 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.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Foreign financial institution: means a person, other than a Hawaii financial institution or a federal financial institution whose operations are principally conducted in this State, which is authorized to engage under the laws of its jurisdiction of organization, or does engage, in the business of accepting deposits or making loans or engaging in the trust business. See Hawaii Revised Statutes 412:1-109
  • Fraud: Intentional deception resulting in injury to another.
  • Generation-skipping transfer: means a generation-skipping transfer as defined and used in section 2611 of the Internal Revenue Code. See Hawaii Revised Statutes 236D-2
  • Generation-skipping transfer: means a generation-skipping transfer as defined and used in section 2611 of the Internal Revenue Code. See Hawaii Revised Statutes 236E-2
  • 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.
  • Grantor: The person who establishes a trust and places property into it.
  • Gross estate: The total fair market value of all property and property interests, real and personal, tangible and intangible, of which a decedent had beneficial ownership at the time of death before subtractions for deductions, debts, administrative expenses, and casualty losses suffered during estate administration.
  • Gross estate: means gross estate as defined and used in sections 2031 to 2046 of the Internal Revenue Code. See Hawaii Revised Statutes 236D-2
  • Gross estate: means gross estate as defined and used in sections 2031 to 2046 of the Internal Revenue Code. See Hawaii Revised Statutes 236E-2
  • gross rental proceeds: means the gross receipts, cash or accrued, of the taxpayer received as compensation for the furnishing of transient accommodations or entering into arrangements to furnish transient accommodations and the value proceeding or accruing from the furnishing of transient accommodations or entering into arrangements to furnish transient accommodations, including resort fees without any deductions on account of the cost of property or services sold, the cost of materials used, labor cost, taxes, royalties, interest, discounts, or any other expenses whatsoever. See Hawaii Revised Statutes 237D-1
  • 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.
  • Hawaii estate tax: means the tax due to the State with respect to a taxable transfer, unless the context clearly indicates otherwise. See Hawaii Revised Statutes 236E-2
  • Hawaii financial institution: means :

         (1)  A corporation or credit union that holds a charter or license under this chapter or under prior Hawaii law, authorizing it to accept deposits, to make loans in excess of the rates permitted in chapter 478, or to engage in the business of a trust company; or

         (2)  A resulting bank as defined in article 12,

    and includes a corporation or credit union existing and chartered as a Hawaii financial institution or licensed to transact business in this State on July 1, 1993. See Hawaii Revised Statutes 412:1-109

  • Hawaii generation-skipping transfer tax: means the tax due to the State with respect to a taxable transfer that gives rise to a federal generation-skipping transfer tax. See Hawaii Revised Statutes 236E-2
  • Hawaii net taxable estate: means Hawaii taxable estate less the applicable exclusion amount as set forth in section 236E‑6. See Hawaii Revised Statutes 236E-2
  • Hawaii transfer tax: means the Hawaii estate tax or the Hawaii generation-skipping transfer tax. See Hawaii Revised Statutes 236E-2
  • Holding company: means any company which controls another company. See Hawaii Revised Statutes 412:1-109
  • Identification leg band: means the band placed around the pigeon's leg identifying the owner by name or initials or containing numbers or letters or a combination thereof. See Hawaii Revised Statutes 142-101
  • In concert with another: means (1) knowing participation in a joint activity or interdependent conscious parallel action towards a common goal whether or not pursuant to an express agreement; or (2) a combination or pooling of voting or other interests in the securities of an issuer for a common purpose pursuant to any contract, understanding, relationship, agreement, or other arrangement, whether written or otherwise. See Hawaii Revised Statutes 412:1-109
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Insolvency: means , with respect to a financial institution, that the value of its assets is insufficient to pay its depositors and its creditors. See Hawaii Revised Statutes 412:1-109
  • Institution-affiliated party: means any of the following:

         (1)  Any director, officer, employee or controlling shareholder of, or agent for, or other person that controls a financial institution;

         (2)  Any person who has filed or is required to file an application to become a financial institution with the commissioner or an application to acquire control of a Hawaii financial institution or financial institution holding company with the commissioner;

         (3)  Any shareholder, consultant, joint venture partner, and any other person as determined by the commissioner (by rule or case-by-case) who participates in the conduct of the affairs of a financial institution; or

         (4)  Any independent contractor (including any attorney, appraiser, or accountant) who knowingly or recklessly participates in any of the following which caused or is likely to cause more than a minimal financial loss to, or a significant adverse effect on, the financial institution:

              (A)  Any violation of law or rule,

              (B)  Any breach of fiduciary duty, or

              (C)  Any unsafe or unsound practice. See Hawaii Revised Statutes 412:1-109

  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • 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
  • Internal Revenue Code: includes the federal tax principles of alter ego, nominee, sham transaction, substance over form, economic substance, or business purpose, as those principles are developed by statute or common law. See Hawaii Revised Statutes 236D-2
  • Internal Revenue Code: means subtitle B of the federal Internal Revenue Code of 1986, as amended as of December 31, 2019, as it applies to the determination of gross estate, adjusted gross estate, federal taxable estate, and generation-skipping transfers, except those provisions of the Internal Revenue Code and federal public laws that, pursuant to this chapter, do not apply or are otherwise limited in application. See Hawaii Revised Statutes 236E-3
  • international banking corporation: means a corporation which has authority to operate as an international banking corporation under this part and has been required to use the term "international banking corporation" or such other term approved by the commissioner and containing the word "international" "foreign" "overseas" or some similar word as part of its name. See Hawaii Revised Statutes 412:5A-200
  • 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.
  • Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
  • 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
  • Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
  • Legatee: A beneficiary of a decedent
  • 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.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • loaded firearm: means a firearm with ammunition present within the firing chamber, revolving cylinder, or within a magazine which is inserted in a firearm. See Hawaii Revised Statutes 134-1
  • Loans and extensions of credit: includes a contractual commitment to advance funds. See Hawaii Revised Statutes 412:1-109
  • Marketplace facilitator: means any person who sells or assists in the sale of tangible personal property, intangible property, or services on behalf of another seller by:

         (1)  Providing a forum, whether physical or electronic, in which sellers list or advertise tangible personal property, intangible property, or services for sale; and

         (2)  Collecting payment from the purchaser, either directly or indirectly through an agreement with a third party. See Hawaii Revised Statutes 237-1

  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • Moldy: means an egg in which mold has developed inside the shell. See Hawaii Revised Statutes 147-71
  • month: means a calendar month; and the word "year" a calendar year. See Hawaii Revised Statutes 1-20
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives 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
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • Noncitizen transfer: means a transfer within the meaning of section 2101 of the Internal Revenue Code. See Hawaii Revised Statutes 236D-2
  • Nonresident: means a decedent who was not domiciled in Hawaii at time of death. See Hawaii Revised Statutes 236D-2
  • Nonresident: means a decedent who was not domiciled in the State at time of death. See Hawaii Revised Statutes 236E-2
  • Nonresident not a citizen: means a nonresident who is not a citizen of the United States. See Hawaii Revised Statutes 236D-2
  • 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.
  • Obligation: means any bond, debt, debenture, loan, note or similar undertaking. See Hawaii Revised Statutes 412:1-109
  • Occupant: means an owner of a resort time share vacation plan or other person occupying the resort time share vacation unit. See Hawaii Revised Statutes 237D-1
  • Offer: includes every inducement, solicitation, or attempt to encourage a person to acquire an interest in land, if undertaken for gain or profit. See Hawaii Revised Statutes 484-1
  • Offgrade: is a descriptive term applicable to agricultural commodities which have a market value, and designates a quality lower than the lowest applicable in Hawaii, other states or the United States grade for each agricultural commodity. See Hawaii Revised Statutes 147-1
  • Open to the public: means accessible or available to the general public during regular business hours without special permission. See Hawaii Revised Statutes 412:1-109
  • Operator: means any person operating a transient accommodation, whether as owner or proprietor or as lessee, sublessee, mortgagee in possession, licensee, or otherwise, or engaging or continuing in any service business which involves the actual furnishing of transient accommodation. See Hawaii Revised Statutes 237D-1
  • Overhead: means continuous or general costs occurring in the normal course of a business, including but not limited to costs for labor, rent, taxes, royalties, interest, discounts paid, insurance, lighting, heating, cooling, accounting, legal fees, equipment and facilities, telephone systems, depreciation, and amortization. See Hawaii Revised Statutes 237-1
  • Owner: means any person who owns a resort time share vacation interest; provided that to the extent and for those purposes provided in an agreement of sale, the vendee under the agreement of sale shall be considered the owner of the resort time share vacation interest. See Hawaii Revised Statutes 237D-1
  • Paid-in capital: means the amount of capital actually received by the financial institution for its capital stock, membership shares or share accounts, as the case may be. See Hawaii Revised Statutes 412:1-109
  • Participating institution: means one or all of the financial institutions (or, where applicable, financial institution holding companies) participating in a merger or consolidation pursuant to this part. See Hawaii Revised Statutes 412:3-602
  • 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.
  • penalties: when used in connection with the additions to the tax imposed for delinquency in payment, includes interest as well. See Hawaii Revised Statutes 237-1
  • Person: means an individual, corporation, government, or governmental subdivision or agency, business trust, estate, trust, partnership, unincorporated association, two or more of any of the foregoing having a joint or common interest, or any other legal or commercial entity. See Hawaii Revised Statutes 484-1
  • Person: means a natural person, entity or organization, including without limitation an individual, corporation, joint venture, partnership, sole proprietorship, association, cooperative, estate, trust, or governmental unit. See Hawaii Revised Statutes 412:1-109
  • Person: means any individual, estate, trust, receiver, cooperative association, club, corporation, company, firm, partnership, joint venture, syndicate, or other entity and, to the extent permitted by law, any federal, state, or other governmental unit or subdivision or agency, department, or instrumentality thereof. See Hawaii Revised Statutes 236D-2
  • Person: means any individual, estate, trust, receiver, cooperative association, club, corporation, company, firm, partnership, joint venture, syndicate, or other entity and, to the extent permitted by law, any federal, state, or other governmental unit or subdivision or agency, department, or instrumentality thereof. See Hawaii Revised Statutes 236E-2
  • Personal injury: includes death resulting therefrom. See Hawaii Revised Statutes 386-1
  • Personal property: All property that is not real property.
  • Personal representative: means the personal representative of a decedent appointed under chapter 560, and includes an executor (as defined under section 2203 of the Internal Revenue Code), administrator, successor personal representative, special administrator, and persons who perform substantially the same function under the law governing their status. See Hawaii Revised Statutes 236D-2
  • Personal representative: means the personal representative of a decedent appointed under chapter 560, and includes an executor as defined under section 2203 of the Internal Revenue Code, administrator, successor personal representative, special administrator, and persons who perform substantially the same function under the law governing their status. See Hawaii Revised Statutes 236E-2
  • Pigeon: includes all carrier and show birds but does not pertain to birds raised for food or for similar commercial purposes. See Hawaii Revised Statutes 142-101
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • plan: means a plan in which the cost of the services are paid by a member or by some other person or organization in the member's behalf. See Hawaii Revised Statutes 237-1
  • Plan manager: means a person who undertakes the duties, responsibilities, and obligations of managing a resort time share vacation plan or is required to act for a resort time share vacation plan under this chapter. See Hawaii Revised Statutes 237D-1
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • 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.
  • Preferred stock: means capital stock in a financial institution or other corporation which entitles its holders to some preference or priority over the owners of common stock, usually with respect to dividends or asset distributions in liquidation. See Hawaii Revised Statutes 412:1-109
  • Principal shareholder: means a person other than a financial institution, that, directly or indirectly, or acting through or in concert with another, owns, controls, or has the power to vote more than ten per cent of any class of voting securities of a financial institution. See Hawaii Revised Statutes 412:1-109
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Probate: Proving a will
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Producer: means any person engaged within the State in the growing or production for market of any agricultural commodity, or any cooperative association of such persons. See Hawaii Revised Statutes 147-1
  • Property: means :

         (1)  For a transfer, property included in the gross estate; and

         (2)  For a generation-skipping transfer, all real and personal property subject to the federal generation-skipping transfer tax. See Hawaii Revised Statutes 236D-2

  • Property: means property included in the gross estate. See Hawaii Revised Statutes 236E-2
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Public offering statement: means a statement that fully and accurately discloses the physical characteristics of the subdivided lands offered and all unusual or material circumstances or features affecting the subdivided lands. See Hawaii Revised Statutes 484-1
  • Purchaser: means a person who acquires or attempts to acquire or succeeds to an interest in land. See Hawaii Revised Statutes 484-1
  • Purchasing agent: means any person who, as an agent and not a seller, for a consideration, is engaged in the State in the business of purchasing for the purchasing agent's principal or principals from an unlicensed seller or sellers property for use by such principals in the State, for example, by forwarding orders for such purchases, in behalf of such principals, it being immaterial whether the purchasing agent is compensated for the purchasing agent's services by the seller or by the purchaser; but the term "purchasing agent" does not include an employee of the purchaser. See Hawaii Revised Statutes 237-1
  • Qualified heir: means a qualified heir as defined in section 2032A(e)(1) of the Internal Revenue Code. See Hawaii Revised Statutes 236E-2
  • Quorum: The number of legislators that must be present to do business.
  • Raw unprocessed honey: means honey that has not been heated above one hundred twenty degrees Fahrenheit, or filtered through a fine screen of less than one-sixty-fourth inch mesh, or treated with diatomaceous earth, or in any other way that results in the loss of any natural constituent of honey, such as plant pollen and enzymes. See Hawaii Revised Statutes 147-1
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Receiver: means a person appointed by the commissioner to take possession and control of a Hawaii financial institution for the purpose of liquidating and winding up the affairs of the institution. See Hawaii Revised Statutes 412:1-109
  • 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
  • Related interest: means (1) a company that is controlled by a person or (2) a political or campaign committee that is controlled by a person or the funds or services of which will benefit a person. See Hawaii Revised Statutes 412:1-109
  • Release: means a document issued by the department which certifies that all taxes have either been paid or which releases the estate from all taxes due under this chapter. See Hawaii Revised Statutes 236D-2
  • Release: means a document issued by the department that certifies that all taxes have been paid or the estate is released from all taxes due under this chapter. See Hawaii Revised Statutes 236E-2
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • rental: means the leasing or renting of living quarters or sleeping or housekeeping accommodations in hotels, apartment hotels, motels, condominiums or units defined in chapter 514B, cooperative apartments, rooming houses, or other places in which lodgings are regularly furnished to transients for a consideration, without transfer of the title of such property. See Hawaii Revised Statutes 237D-1
  • Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
  • Representative: means any salesperson, commission agent, manufacturer's representative, broker or other person who is authorized or employed by a seller to assist the seller in selling property for use in the State, by procuring orders for the sales or otherwise, and who carries on those activities in the State, it being immaterial whether the activities are regular or intermittent. See Hawaii Revised Statutes 237-1
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Resident: means a decedent who was domiciled in Hawaii at time of death. See Hawaii Revised Statutes 236D-2
  • Resident: means a decedent who was domiciled in the State at the time of death. See Hawaii Revised Statutes 236E-2
  • Resident trust: means a resident trust as defined under section 235-1; or if the administration is partly carried on in the State and partly outside the State, a trust where one-half or more of the fiduciaries reside in the State. See Hawaii Revised Statutes 236E-2
  • Resort time share vacation interest: means any interest in a resort time share vacation unit or plan which entitles the owner thereof to the use, occupancy, or possession of a resort time share vacation unit on a periodically recurring basis. See Hawaii Revised Statutes 237D-1
  • Resort time share vacation plan: means any plan or program subject to chapter 514E in which the use, occupancy, or possession of one or more resort time share vacation units circulates among various persons for less than a sixty-day period in any year, for any occupant. See Hawaii Revised Statutes 237D-1
  • Resort time share vacation unit: means the actual and promised accommodations, and related facilities, which are the subject of a resort time share vacation plan. See Hawaii Revised Statutes 237D-1
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Resulting institution: means the financial institution resulting from a merger, consolidation or conversion pursuant to this part. See Hawaii Revised Statutes 412:3-602
  • Retailer: means any person, firm, corporation, or association which sells eggs to a consumer. See Hawaii Revised Statutes 147-71
  • Retained earnings: means the net income of a financial institution earned since its inception which has not been distributed to its shareholders or transferred or allocated to capital stock or surplus or, as the case may be, the accumulated deficits of the financial institution. See Hawaii Revised Statutes 412:1-109
  • Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
  • revolver: means any firearm of any shape with a barrel less than sixteen inches in length and capable of discharging loaded ammunition or any noxious gas. See Hawaii Revised Statutes 134-1
  • sales: includes the exchange of properties as well as the sale thereof for money. See Hawaii Revised Statutes 237-1
  • Service of process: The service of writs or summonses to the appropriate party.
  • 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.
  • Situs: means , with respect to a decedent not a resident or citizen of the United States, the location of the decedent's property within the meaning of section 2104 of the Internal Revenue Code, including regulations and other guidance issued thereunder, substituting "Hawaii" for "the United States". See Hawaii Revised Statutes 236E-2
  • State: means any state or territory of the United States and the District of Columbia. See Hawaii Revised Statutes 236E-2
  • Statute: A law passed by a legislature.
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • Stock financial institution: means a financial institution that issues shares of capital stock as evidence of fractional ownership in the institution. See Hawaii Revised Statutes 412:1-109
  • subdivided lands: means any land which is divided or is proposed to be divided for the purpose of disposition into two or more lots, parcels, units, or interests and also includes any land whether contiguous or not if two or more lots, parcels, units, or interests are offered as a part of a common promotional plan of advertising and sale. See Hawaii Revised Statutes 484-1
  • Subdivider: means any owner of subdivided land who offers the land for disposition or the principal agent of an owner, who has been duly authorized in a writing filed with the director. See Hawaii Revised Statutes 484-1
  • Subpoena: A command to a witness to appear and give testimony.
  • Subsidiary: means a corporation, joint venture, partnership, or other company that is controlled by another corporation. See Hawaii Revised Statutes 412:1-109
  • Summons: Another word for subpoena used by the criminal justice system.
  • Taxable estate: means taxable estate as defined in sections 2051 to 2056 of the Internal Revenue Code. See Hawaii Revised Statutes 236D-2
  • taxable transfer: means :

         (1)  A transfer as used in section 2001(a) of the Internal Revenue Code and shall include the disposition of or failure to use property for a qualified use under section 2032A(c) of the Internal Revenue Code; or

         (2)  A generation-skipping transfer as defined and used in section 2611 of the Internal Revenue Code; provided that a direct skip that is a transfer subject to the tax imposed by chapter 12 of the Internal Revenue Code shall not be treated as a taxable transfer. See Hawaii Revised Statutes 236E-2

  • taxable year: means either the calendar year or the taxpayer's fiscal year when the same constitutes the tax period instead of the calendar year pursuant to section 237-11. See Hawaii Revised Statutes 237-1
  • Taxpayer: means any person liable for any tax hereunder. See Hawaii Revised Statutes 237-1
  • Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • this State: means the State of Hawaii, its political subdivisions, agencies, and departments. See Hawaii Revised Statutes 412:1-109
  • 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.
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • Transfer: means transfer as defined and used in section 2001 of the Internal Revenue Code. See Hawaii Revised Statutes 236D-2
  • Transferee: means a transferee within the meaning of sections 2603(a)(1) and 6901(h) of the Internal Revenue Code. See Hawaii Revised Statutes 236E-2
  • Transferred property: means :

         (1)  With respect to a taxable transfer subject to the federal estate tax, the deceased individual's gross estate as defined in section 2031 of the Internal Revenue Code;

         (2)  With respect to a taxable transfer occurring as a result of a taxable termination as defined in section 2612(a) of the Internal Revenue Code, the taxable amount determined under section 2622(a) of the Internal Revenue Code;

         (3)  With respect to a taxable transfer occurring as a result of a taxable distribution as defined in section 2612(b) of the Internal Revenue Code, the taxable amount determined under section 2621(a) of the Internal Revenue Code;

         (4)  With respect to a taxable transfer occurring as a result of a direct skip, as defined in section 2612(c) of the Internal Revenue Code, the taxable amount determined under section 2623 of the Internal Revenue Code; and

         (5)  With respect to an event which causes the imposition of an additional federal estate tax under section 2032A(c) of the Internal Revenue Code, the qualified real property that was disposed of or which ceased to be used for the qualified use, within the meaning of section 2032A(c)(1) of the Internal Revenue Code. See Hawaii Revised Statutes 236E-2

  • Transient accommodations: means the furnishing of a room, apartment, suite, single family dwelling, or the like to a transient for less than one hundred eighty consecutive days for each letting in a hotel, apartment hotel, motel, condominium or unit as defined in chapter 514B, cooperative apartment, dwelling unit, or rooming house that provides living quarters, sleeping, or housekeeping accommodations, or other place in which lodgings are regularly furnished to transients. See Hawaii Revised Statutes 237D-1
  • Transient accommodations broker: means any person or entity, including but not limited to persons who operate online websites, online travel agencies, or online booking agencies, that offers, lists, advertises, or accepts reservations or collects whole or partial payment for transient accommodations or resort time share vacation interests, units, or plans. See Hawaii Revised Statutes 237D-1
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trustee: A person or institution holding and administering property in trust.
  • Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC
  • Wages: means all remuneration for services constituting employment. See Hawaii Revised Statutes 386-1
  • Wages: means all remuneration for services from whatever source, including commissions, bonuses, tips or gratuities received in the course of employment from others than the employer to the extent that they are customary and expected in that type of employment and reported to the employer for payroll tax deduction purposes, and the cash value of all remuneration in any medium other than cash. See Hawaii Revised Statutes 392-3
  • white rot: means an egg which is putrid or rotten. See Hawaii Revised Statutes 147-71
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.