Part 1 Multiple-Party Accounts 560:6-101 – 560:6-113

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Terms Used In Hawaii Revised Statutes > Chapter 560 > Article VI - Nonprobate Transfers

  • Account: means a contract of deposit of funds between a depositor and a financial institution, and includes a checking account, savings account, certificate of deposit, share account and other like arrangement;

    "Beneficiary" means a person named in a trust account as one for whom a party to the account is named as trustee;

    "Financial institution" means any organization authorized to do business under state or federal laws relating to financial institutions, including, without limitation, banks, savings banks, savings and loan companies or associations, financial services loan companies, and credit unions;

    "Joint account" means an account payable on request presently or in the future to one or more of two or more parties whether or not mention is made of any right of survivorship;

    A "multiple-party account" is any of the following types of account:

    (1) a joint account,

    (2) a payable-on-death account, or

    (3) a trust account. See Hawaii Revised Statutes 560:6-101

  • Administrator: means the individual responsible for planning, organizing, directing, and controlling of the operation of a nursing home. See Hawaii Revised Statutes 457B-2
  • 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.
  • Allegation: something that someone says happened.
  • 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
  • Certified nurse aide: means a nurse aide who has met the requirements for certification under § 457A-7 or 457A-8. See Hawaii Revised Statutes 457A-1.5
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • 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 457B-2
  • Dependent: A person dependent for support upon another.
  • Director: means the director of commerce and consumer affairs. See Hawaii Revised Statutes 457A-1.5
  • Director: means the director of commerce and consumer affairs. See Hawaii Revised Statutes 457B-2
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Ex officio: Literally, by virtue of one's office.
  • Fiduciary: A trustee, executor, or administrator.
  • 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.
  • 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.
  • Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Medicare or medicaid certified nursing facility: means any intermediate care facility or skilled nursing facility licensed pursuant to section 321-11(10) and certified by the department of health in accordance with 42 United States Code §§ 1395i-3 and 1396r. See Hawaii Revised Statutes 457A-1.5
  • Medicare or medicaid nurse aide: means a certified nurse aide who works in a medicare or medicaid certified nursing facility. See Hawaii Revised Statutes 457A-1.5
  • multiple-party account: is a ny of the following types of account:

    (1) a joint account,

    (2) a payable-on-death account, or

    (3) a trust account. See Hawaii Revised Statutes 560:6-101

  • Nurse aide: means a person who performs a variety of duties relating to patients and patient care while working under the supervision of a nurse, including assisting patients in all activities of daily living such as serving and collecting food trays, and helping patients get out of bed, bathe, and dress. See Hawaii Revised Statutes 457A-1.5
  • Nursing home: means any nursing facility licensed by the department of health. See Hawaii Revised Statutes 457B-2
  • 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 a person who, by the terms of the account, has a present right, subject to request, to payment from a multiple-party account. See Hawaii Revised Statutes 560:6-101
  • Personal property: All property that is not real property.
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Proof of death: includes a death certificate or record or report which is prima facie proof of death under § 560:1-107;

    "Request" means a proper request for withdrawal, or a check or order for payment, which complies with all conditions of the account, including special requirements concerning necessary signatures and regulations of the financial institution; but if the financial institution conditions withdrawal or payment on advance notice, for purposes of this part the request for withdrawal or payment is treated as immediately effective and a notice of intent to withdraw is treated as a request for withdrawal;

    "Sums on deposit" means the balance payable on a multiple-party account including interest, dividends, and in addition any deposit life insurance proceeds added to the account by reason of the death of a party;

    "Trust account" means an account in the name of one or more parties as trustee for one or more beneficiaries where the relationship is established by the form of the account and the deposit agreement with the financial institution and there is no subject of the trust other than the sums on deposit in the account; it is not essential that payment to the beneficiary be mentioned in the deposit agreement. See Hawaii Revised Statutes 560:6-101

  • Request: means a proper request for withdrawal, or a check or order for payment, which complies with all conditions of the account, including special requirements concerning necessary signatures and regulations of the financial institution; but if the financial institution conditions withdrawal or payment on advance notice, for purposes of this part the request for withdrawal or payment is treated as immediately effective and a notice of intent to withdraw is treated as a request for withdrawal;

    "Sums on deposit" means the balance payable on a multiple-party account including interest, dividends, and in addition any deposit life insurance proceeds added to the account by reason of the death of a party;

    "Trust account" means an account in the name of one or more parties as trustee for one or more beneficiaries where the relationship is established by the form of the account and the deposit agreement with the financial institution and there is no subject of the trust other than the sums on deposit in the account; it is not essential that payment to the beneficiary be mentioned in the deposit agreement. See Hawaii Revised Statutes 560:6-101

  • Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
  • State-licensed or state-certified health care settings: means health care settings, other than medicare or medicaid certified nursing facilities, which are regulated by the department of health. See Hawaii Revised Statutes 457A-1.5
  • Statute: A law passed by a legislature.
  • Telehealth: means the use of telecommunications as that term is defined in § 269-1, to encompass four modalities: store and forward technologies, remote monitoring, live consultation, and mobile health; and which shall include but not be limited to real-time video conferencing-based communication, secure interactive and non-interactive web-based communication, and secure asynchronous information exchange, to transmit patient medical information, including diagnostic-quality digital images and laboratory results for medical interpretation and diagnosis, to support long-distance clinical health care while a patient is at an originating site and the nurse is at a distant site, patient and professional health-related education, public health and health administration, to the extent that it relates to nursing. See Hawaii Revised Statutes 457-2
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Trustee: A person or institution holding and administering property in trust.
  • Withdrawal: includes payment to a third person pursuant to check or other directive of a party. See Hawaii Revised Statutes 560:6-101