Terms Used In Hawaii Revised Statutes > Chapter 557A > Article 4 > Part II - Receipts Not Normally Apportioned

• Accounting period: means a calendar year unless another twelve-month period is selected by a fiduciary. See Hawaii Revised Statutes 557A-102
• Amortization: Paying off a loan by regular installments.
• 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}
• Beneficiary: includes , in the case of a decedent's estate, an heir and devisee and, in the case of a trust, an income beneficiary and a remainder beneficiary. See Hawaii Revised Statutes 557A-102
• Contract: A legal written agreement that becomes binding when signed.
• county: includes the city and county of Honolulu. See Hawaii Revised Statutes 1-22
• Decedent: A deceased person.
• Department: means the department of commerce and consumer affairs. See Hawaii Revised Statutes 444-1
• Driver: means every person who drives or is in actual physical control of a vehicle. See Hawaii Revised Statutes 291C-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
• Income: means money or property a fiduciary receives as the current return from a principal asset. See Hawaii Revised Statutes 557A-102
• Income interest: means an income beneficiary's right to receive all or part of the net income, whether the terms of the trust require it to be distributed or authorize it to be distributed in the trustee's discretion. See Hawaii Revised Statutes 557A-102
• 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
• Laned roadway: means roadway which is divided into two or more clearly marked lanes for vehicular traffic. See Hawaii Revised Statutes 291C-1
• 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}
• Mandatory income interest: means an income beneficiary's right to receive net income that the terms of the trust require the fiduciary to distribute. See Hawaii Revised Statutes 557A-102
• 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
• Net income: means the total receipts allocated to income during an accounting period minus the disbursements made from income during the period. See Hawaii Revised Statutes 557A-102
• 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.
• Personal property: All property that is not real property.
• Principal: means property held in trust for distribution to a remainder beneficiary when the trust terminates. See Hawaii Revised Statutes 557A-102
• Residence district: means the territory contiguous to and including a highway not comprising a business district when the property on the highway for a distance of three hundred feet or more is in the main improved with residences or residences and buildings in use for business. See Hawaii Revised Statutes 291C-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
• 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.
• Trustee: includes an original, additional, or successor trustee, whether or not appointed or confirmed by a court. See Hawaii Revised Statutes 557A-102
• 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