§412:8-101 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.
"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]
Section: Previous 412-7-303 412-7-304 412-7-305 412-7-306 412-7-307 412-7-400-to-408 412-8-100 412-8-101 412-8-102 412-8-103 412-8-200 412-8-201 412-8-202 412-8-203 412-8-204 NextLast modified: October 27, 2016