Terms Used In Hawaii Revised Statutes > Chapter 517E - Uniform Prudent Management of Institutional Funds Act

• 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.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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}
• Charitable purpose: means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose, or any other purpose the achievement of which is beneficial to the community. See Hawaii Revised Statutes 517E-2
• Community foundation: means a community foundation or community trust recognized as exempt from federal income tax and referred to in section 170(c) of the Internal Revenue Code of 1986, as amended, and which meets the single entity requirements of United States Treasury Regulations sections 1. See Hawaii Revised Statutes 517E-2
• 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
• Department: means the department of health. See Hawaii Revised Statutes 342L-1
• Director: means the director of health. See Hawaii Revised Statutes 342L-1
• Donor: The person who makes a gift.
• Endowment fund: means an institutional fund or part thereof that, under the terms of a gift instrument, is not wholly expendable by the institution on a current basis. See Hawaii Revised Statutes 517E-2
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Gift instrument: means a record or records, including an institutional solicitation, under which property is granted to, transferred to, or held by an institution as an institutional fund. See Hawaii Revised Statutes 517E-2
• Institution: means :

  (1) A person, other than an individual, organized and operated exclusively for charitable purposes;

  (2) A government or governmental subdivision, agency, or instrumentality, to the extent that it holds funds exclusively for a charitable purpose; or

  (3) A trust that had both charitable and noncharitable interests, after all noncharitable interests have terminated. See Hawaii Revised Statutes 517E-2

• Institutional fund: means a fund held by an institution exclusively for charitable purposes. See Hawaii Revised Statutes 517E-2
• 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.
• 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.
• Party: means each person or agency named as a party or properly entitled to be a party in any court or agency proceeding. See Hawaii Revised Statutes 342L-1
• Permit: means written authorization from the director to install or operate an underground storage tank or tank system. See Hawaii Revised Statutes 342L-1
• Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Hawaii Revised Statutes 517E-2
• Person: means an individual, trust, estate, firm, joint stock company, corporation (including a government corporation), partnership, association, commission, consortium, joint venture, commercial entity, the State or a county, the United States government, federal agency, interstate body, or any other legal entity. See Hawaii Revised Statutes 342L-1
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Hawaii Revised Statutes 517E-2
• Release: includes , but is not limited to, any spilling, leaking, emitting, discharging, escaping, leaching, or disposing from an underground storage tank or tank system. See Hawaii Revised Statutes 342L-1
• Statute: A law passed by a legislature.
• tank: means any one or combination of tanks (including pipes connected thereto) used to contain an accumulation of regulated substances, and the volume of which (including the volume of the underground pipes connected thereto) is ten per cent or more beneath the surface of the ground. See Hawaii Revised Statutes 342L-1
• tank system: means an underground storage tank, connected underground piping, underground ancillary equipment, and containment system, if any. See Hawaii Revised Statutes 342L-1
• Trustee: A person or institution holding and administering property in trust.
• Variance: means special written authorization from the director to own, install, or operate an underground storage tank or tank system in a manner deviating, or to do an act that deviates, from the requirements of rules adopted under this chapter. See Hawaii Revised Statutes 342L-1