Sections
Part 1 General Provisions and Definitions 490:4-101 – 490:4-111
Part 2 Collection of Items: Depositary and Collecting Banks 490:4-201 – 490:4-216
Part 3 Collection of Items; Payor Banks 490:4-301 – 490:4-303
Part 4 Relationship Between Payor Bank and its Customer 490:4-401 – 490:4-407
Part 5 Collection of Documentary Drafts 490:4-501 – 490:4-504

Terms Used In Hawaii Revised Statutes > Chapter 490 > ARTICLE 4 - BANK DEPOSITS AND COLLECTIONS

  • Account: means any deposit or credit account with a bank, including a demand, time, savings, passbook, share draft, or like account, other than an account evidenced by a certificate of deposit;

         (2)  "Afternoon" means the period of a day between noon and midnight;

         (3)  "Banking day" means the part of a day on which a bank is open to the public for carrying on substantially all of its banking functions;

         (4)  "Clearing-house" means an association of banks or other payors regularly clearing items;

         (5)  "Customer" means a person having an account with a bank or for whom a bank has agreed to collect items, including a bank that maintains an account at another bank;

         (6)  "Documentary draft" means a draft to be presented for acceptance or payment if specified documents, certificated securities (§ 490:8-102) or instructions for uncertificated securities (§ 490:8-102), or other certificates, statements, or the like are to be received by the drawee or other payor before acceptance or payment of the draft;

         (7)  "Draft" means a draft as defined in § 490:3-104 or an item, other than an instrument, that is an order;

         (8)  "Drawee" means a person ordered in a draft to make payment;

         (9)  "Item" means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Hawaii Revised Statutes 490:4-104

  • 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.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Arrest: Taking physical custody of a person by lawful authority.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Association: means a nonprofit, incorporated, or unincorporated organization:

         (1)  Upon which responsibilities are imposed and to which authority is granted in a declaration that governs a planned community;

         (2)  That is a planned community association as defined under § 607-14; or

         (3)  That is a homeowners' association, in which:

              (A)  The voting membership is made up of ten or more parcel owners or their proxies, or a combination thereof; and

              (B)  Assessments may be imposed that, if unpaid, may become a lien on the parcel. See Hawaii Revised Statutes 421J-2

  • 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.
  • 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
  • Bicycle: means :

         (1)  A vehicle propelled solely by human power upon which any person may ride, having two tandem wheels, and including any vehicle generally recognized as a bicycle though equipped with two front or two rear wheels except a toy bicycle; or

         (2)  A low-speed electric bicycle, as defined under title 15 U. See Hawaii Revised Statutes 291C-1

  • Bicycle lane: means that portion of any highway which has been set aside for the preferential or exclusive use of bicycles. See Hawaii Revised Statutes 291C-1
  • Bicycle path: means any facility set aside for the preferential or exclusive use of bicycles and physically separated from a highway. See Hawaii Revised Statutes 291C-1
  • Bikeway: means a bicycle lane, bicycle path, or bicycle route, or any traffic control device, shelter, parking facility, or other support facility to serve bicycles and persons using bicycles. See Hawaii Revised Statutes 291C-1
  • board: means the governing body of the risk retention group elected by the shareholders or members to establish policy, elect or appoint officers and committees, and make other governing decisions. See Hawaii Revised Statutes 431K-1
  • Bodily injury: means physical pain, illness, or any impairment of physical condition. See Hawaii Revised Statutes 291C-1
  • Commissioner: means the insurance commissioner of this State. See Hawaii Revised Statutes 431K-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.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Completed operations liability: means liability arising out of the installation, maintenance, or repair of any product at a site which is not owned or controlled by any person who:

         (1)  Performs that work; or

         (2)  Hires an independent contractor to perform that work; but shall include liability for activities which are completed or abandoned before the date of the occurrence giving rise to the liability. See Hawaii Revised Statutes 431K-1

  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • Controlled-access highway: means every highway, street, or roadway in respect to which owners or occupants of abutting lands and other persons have no legal right of access to or from the same except at such points only and in such manner as may be determined by the public authority having jurisdiction over such highway, street, or roadway. See Hawaii Revised Statutes 291C-1
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • county: includes the city and county of Honolulu. See Hawaii Revised Statutes 1-22
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Dangerous wheels: means any wheel, wheel cover, hubcap, lug nut cover or cap, prong, or any ornamentation affixed to any of the aforementioned items that extends at least four inches beyond the portion of the wheel rim that extends furthest away from the vehicle and that may cause injury or property damage by minimal contact with a person or object. See Hawaii Revised Statutes 291C-1
  • Decedent: A deceased person.
  • 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.
  • Director: means a natural person designated in the articles of the risk retention group or designated, elected, or appointed by any other manner, name, or title to act as a director. See Hawaii Revised Statutes 431K-1
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Driver: means every person who drives or is in actual physical control of a vehicle. See Hawaii Revised Statutes 291C-1
  • Electric foot scooter: means a device:

         (1)  Weighing less than seventy-five pounds;

         (2)  With two or three wheels;

         (3)  With handlebars;

         (4)  With either:

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

              (B)  A seat or saddle for the use of the rider and stationary footrests;

         (5)  That is powered by an electric motor or human power; and

         (6)  Whose maximum speed, with or without human propulsion on a paved level surface, does not exceed fifteen miles per hour. See Hawaii Revised Statutes 291C-1

  • Electric personal assistive mobility device: means a self-balancing, two-wheeled, non-tandem-wheeled device, designed to transport only one person, using an electric propulsion system that limits the maximum speed of the device to twelve and a half miles per hour or less. See Hawaii Revised Statutes 291C-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.
  • feasibility study: means an analysis which presents the expected activities and results of a risk retention group including, not less than the following:

         (1)  The coverages, deductibles, coverage limits, rates, and rating classification systems for each line of insurance the group intends to offer;

         (2)  Historical and expected loss experience of the proposed members and national experience of similar exposures to the extent that this experience is reasonably available;

         (3)  Pro forma financial statements and projections;

         (4)  Appropriate opinions by a qualified, independent casualty actuary, including a determination of minimum premiums or participation levels required to commence operations and to prevent a hazardous financial condition;

         (5)  Identification of management, underwriting procedures, managerial oversight methods, investment policies;

         (6)  Identification of each state in which the risk retention group has obtained, or sought to obtain, a charter and license, and a description of its status in each state; and

         (7)  Other matters as may be prescribed by the commissioner for liability insurance companies authorized by the insurance laws of the state in which the risk retention group is chartered. See Hawaii Revised Statutes 431K-1

  • Financially impaired: means that a risk retention group:

         (1)  Has admitted assets that are less than the sum of its aggregate liabilities and the amount of surplus to policyholders required to be maintained by a risk retention group chartered in this State and authorized to do the same kind or kinds of insurance; or

         (2)  Has admitted assets that are less than the sum of its aggregate liabilities and outstanding capital stock; or

         (3)  Is insolvent. See Hawaii Revised Statutes 431K-1

  • Germane: On the subject of the pending bill or other business; a strict standard of relevance.
  • 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.
  • Hazardous financial condition: means that, based on its present or reasonably anticipated financial condition, a risk retention group, although not yet financially impaired or insolvent, is unlikely to be able to:

         (1)  Meet obligations to policyholders with respect to known claims and reasonably anticipated claims; or

         (2)  Pay other obligations in the normal course of business. See Hawaii Revised Statutes 431K-1

  • Highway: means the entire width between the boundary lines of every way publicly maintained and those private streets, as defined in § 46-16, over which the application of this chapter has been extended by ordinance, when any part thereof is open to the use of the public for purposes of vehicular travel. See Hawaii Revised Statutes 291C-1
  • House trailer: means :

         (1)  A trailer or semitrailer which is designed, constructed, and equipped as a dwelling place, living abode, or sleeping place (either permanently or temporarily) and is equipped for use as a conveyance on streets and highways; or

         (2)  A trailer or a semitrailer whose chassis and exterior shell is designed and constructed for use as a house trailer, as defined in paragraph (1), but which is used instead permanently or temporarily for the advertising, sales, display, or promotion of merchandise or services, or for any other commercial purpose except the transportation of property for hire or the transportation of property for distribution by a private carrier. See Hawaii Revised Statutes 291C-1

  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Insolvent: means that a risk retention group has admitted assets that are less than the aggregate amount of its liabilities. See Hawaii Revised Statutes 431K-1
  • Insurance: means primary insurance, excess insurance, reinsurance, surplus lines insurance, and any other arrangement for shifting and distributing risk which is determined to be insurance under the laws of this State. See Hawaii Revised Statutes 431K-1
  • Inter vivos: Transfer of property from one living person to another living person.
  • Intersection: means the area embraced within the prolongation or connection of the lateral curb lines, or, if none, then the lateral boundary lines of the roadways of two highways which join one another at, or approximately at, right angles, or the area within which vehicles traveling upon different highways joining at any other angle may come in conflict. See Hawaii Revised Statutes 291C-1
  • Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
  • 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
  • Legatee: A beneficiary of a decedent
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Liability: means legal liability for damages, including costs of defense, legal costs and fees, and other claims expenses because of injuries to other persons, damage to their property, or other damage or loss to those other persons resulting from or arising out of:

         (1)  Any business, whether for profit or nonprofit, trade, product, services, including professional services, premises, or operations; or

         (2)  Any activity of any state or county government, or any agency or political subdivision;

    but does not include personal risk liability and an employer's liability with respect to its employees other than legal liability under the Federal Employers' Liability Act, 45 U. See Hawaii Revised Statutes 431K-1

  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Member: means a person who, under the rules or practices of a nonprofit association, may participate in the selection of persons authorized to manage the affairs of the nonprofit association or in the development of policy of the nonprofit association. See Hawaii Revised Statutes 429-1
  • Moped: means a device upon which a person may ride that has:

         (1)  Two or three wheels in contact with the ground;

         (2)  A motor having a maximum power output capability measured at the motor output shaft, in accordance with SAE International standards, of two horsepower (one thousand four hundred ninety-two watts) or less and, if it is a combustion engine, a maximum piston or rotor displacement of 3. See Hawaii Revised Statutes 291C-1

  • Motor vehicle: means every vehicle which is self-propelled and every vehicle which is propelled by electric power but not operated upon rails but excludes a moped. See Hawaii Revised Statutes 291C-1
  • Neighborhood electric vehicle: means a self-propelled electrically powered motor vehicle to which all of the following apply:

         (1)  The vehicle is emission free;

         (2)  The vehicle is designed to be and is operated at speeds of twenty-five miles per hour or less;

         (3)  The vehicle has four wheels in contact with the ground;

         (4)  The vehicle has a gross vehicle weight rating of less than three thousand pounds; and

         (5)  The vehicle conforms to the minimum safety equipment requirements as adopted in the Federal Motor Vehicle Safety Standard No. See Hawaii Revised Statutes 291C-1

  • Nonprofit association: means an unincorporated organization, other than one created by a trust, consisting of two or more members joined by mutual consent for a common, nonprofit purpose. See Hawaii Revised Statutes 429-1
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Owner: means a person, other than a lien holder, having the property in or title to a vehicle. See Hawaii Revised Statutes 291C-1
  • parking: means the standing of a vehicle, whether occupied or not, otherwise than temporarily for the purpose of and while actually engaged in loading or unloading merchandise or passengers. See Hawaii Revised Statutes 291C-1
  • 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.
  • Pedestrian: means any person afoot, in an invalid chair, or in a vehicle propelled by a person afoot. See Hawaii Revised Statutes 291C-1
  • Person: means an individual, corporation, business trust, estate, trust, partnership, association, joint venture, government, governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Hawaii Revised Statutes 429-1
  • Personal property: All property that is not real property.
  • Personal risk liability: means liability for damages because of injury to any person, damage to property, or other loss or damage resulting from any personal, familial, or household responsibilities or activities, rather than from responsibilities or activities referred to in paragraphs (1) and (2) in the definition of "liability". See Hawaii Revised Statutes 431K-1
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Police officer: means every officer authorized to direct or regulate traffic or to make arrests for violations of traffic regulations. See Hawaii Revised Statutes 291C-1
  • Private road or driveway: means every way or place in private ownership and used for vehicular travel by the owner and those having express or implied permission from the owner, but not by other persons. See Hawaii Revised Statutes 291C-1
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Product liability: means liability for damages because of any personal injury, death, emotional harm, consequential economic damage, or property damage, including damages resulting from the loss of use of property, arising out of the manufacture, design, importation, distribution, packaging, labeling, lease, or sale of a product, but does not include the liability of any person for those damages if the product involved was in the possession of the person when the incident giving rise to the claim occurred. See Hawaii Revised Statutes 431K-1
  • Purchasing group: means any group which:

         (1)  Has as one of its purposes the purchase of liability insurance on a group basis;

         (2)  Purchases this insurance only for its group members and only to cover their similar or related liability exposure, as described in [paragraph (3)];

         (3)  Is composed of members whose businesses or activities are similar or related with respect to the liability to which members are exposed by virtue of any related, similar, or common business, trade, product, services, premises, or operations; and

         (4)  Is domiciled in any state. See Hawaii Revised Statutes 431K-1

  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Right-of-way: means the right of one vehicle or pedestrian to proceed in a lawful manner in preference to another vehicle or pedestrian approaching under such circumstances of direction, speed, and proximity as to give rise to danger of collision unless one grants precedence to the other. See Hawaii Revised Statutes 291C-1
  • Risk retention group: means any corporation or other limited liability association formed under the laws of any state, Bermuda, or the Cayman Islands:

         (1)  Whose primary activity consists of assuming and spreading all, or any portion, of the liability exposure of its group members;

         (2)  Which is organized for the primary purpose of conducting the activity described under paragraph (1);

         (3)  Which:

              (A)  Is chartered and licensed as a liability insurance company and authorized to engage in the business of insurance under the laws of any state; or

              (B)  Before January 1, 1985, was chartered or licensed and authorized to engage in the business of insurance under the laws of Bermuda or the Cayman Islands and, before this date, had certified to the insurance commissioner of at least one state that it satisfied the capitalization requirements of that state, except that any group shall be considered to be a risk retention group only if the group has been engaged in business continuously since this date and only for the purpose of continuing to provide insurance to cover product liability or completed operations liability, as defined in the Product Liability Risk Retention Act of 1981, 15 U. See Hawaii Revised Statutes 431K-1

  • Roadway: means that portion of a highway improved, designed, or ordinarily used for vehicular travel, exclusive of the berm or shoulder. See Hawaii Revised Statutes 291C-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.
  • Sidewalk: means that portion of a street between the curb lines, or the lateral lines of a roadway, and the adjacent property lines, intended for use of pedestrians. See Hawaii Revised Statutes 291C-1
  • standing: means the halting of a vehicle, whether occupied or not, otherwise than temporarily for the purpose of and while actually engaged in receiving or discharging passengers. See Hawaii Revised Statutes 291C-1
  • State: means any state of the United States or the District of Columbia. See Hawaii Revised Statutes 431K-1
  • Statute: A law passed by a legislature.
  • Street: means the entire width between boundary lines of every way publicly maintained when any part thereof is open to the use of the public for purposes of vehicular travel. See Hawaii Revised Statutes 291C-1
  • Summons: Another word for subpoena used by the criminal justice system.
  • 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
  • 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.
  • Traffic: means pedestrians, ridden or herded animals, vehicles, and other conveyances either singly or together while using any highway for purposes of travel. See Hawaii Revised Statutes 291C-1
  • Trustee: A person or institution holding and administering property in trust.
  • Unit: means a physical portion of the planned community designated for separate ownership or occupancy. See Hawaii Revised Statutes 421J-2
  • Vehicle: means every device in, upon, or by which any person or property is or may be transported or drawn upon a roadway or highway, including mopeds and bicycles, but excluding toy bicycles, devices other than bicycles moved by human power, and devices used exclusively upon stationary rails or tracks. See Hawaii Revised Statutes 291C-1
  • Venue: The geographical location in which a case is tried.