Definitions
HRS §412:8-101
in effect412:8-101. Definitions
In this article:
"Client" means a customer of a trust
company, including without limitation a settlor or beneficiary with a vested
interest, the grantor of a power, or the principal in an agency relationship.
When context permits, both the settlor and the beneficiary may be clients at
the same time.
"Nondepository trust company" means a
type of trust company that is not authorized to accept deposits.
"Trust company" means a Hawaii
financial institution which has been permitted to use the term "trust
company" as part of its name, or a subsidiary, trust division or
department of a bank that is a Hawaii financial institution, which engages
primarily in the business of acting as a trustee, personal representative,
guardian, agent, and other fiduciary, either by court appointment or by
agreement.
"Trust holding company" means a
financial institution holding company, other than a bank or a bank holding
company which controls a trust company or another trust holding company. A
bank which is authorized to engage in the business of a trust company through a
subsidiary, division or department of the bank is not a trust holding company
if its trust business is solely through such subsidiary, division or
department.
[L 1993, c 350, pt of §1; am L 2021, c 105, §4]
Source: Hawaii State Legislature (capitol.hawaii.gov), via Internet Archive capturesURL: https://www.capitol.hawaii.gov/hrscurrent/Vol08_Ch0401-0429/HRS0412/HRS_0412-0008-0101.htmFetched: 11/10/2026