Definitions
HRS §211D-1
in effect211D-1. Definitions
As used in this chapter, unless the context otherwise requires:
"Capital access loan" means a loan
that is entitled to be secured by the fund.
"Department" means the department of
business, economic development, and tourism.
"Financial institution" includes a
bank, trust company, banking association, savings and loan association,
mortgage company, investment bank, credit union, or nontraditional financial
institution.
"Fund" means the Hawaii capital loan
revolving fund established in section 210-3.
"Loan" includes a line of credit.
"Medium-sized business" means a
corporation, partnership, sole proprietorship, or other legal entity that:
(1) Is domiciled in this State;
(2) Is formed to make a profit; and
(3) Employs one hundred or more but fewer than five
hundred full-time employees.
"Nonprofit organization" means a
private, nonprofit, tax-exempt corporation, association, or organization listed
in section 501(c)(3), Internal Revenue Code of 1986, as amended, that is
domiciled in this State.
"Participating financial institution"
means a financial institution participating in the program.
"Program" means the capital access
program.
"Reserve account" means an account
established in a participating financial institution on approval of the
department in which money is deposited to serve as a source of additional
revenue to reimburse the financial institution for losses on loans enrolled in
the program.
"Small business" means a corporation,
partnership, sole proprietorship, or other legal entity that:
(1) Is domiciled in this State;
(2) Is formed to make a profit;
(3) Is independently owned and operated; and
(4) Employs fewer than one hundred full-time
employees.
[L 2000, c 290, pt of §2]
Source: Hawaii State Legislature (capitol.hawaii.gov), via Internet Archive capturesURL: http://www.capitol.hawaii.gov/hrscurrent/Vol04_Ch0201-0257/HRS0211D/HRS_0211D-0001.htmFetched: 11/10/2026