§446-1 - Definitions.
§446-1 Definitions. As used in this
chapter:
(1) "Person" means an individual,
partnership, corporation, firm, association, or any other legal entity;
(2) "Debt adjuster" means a person who for
a profit engages in the business of acting as an intermediary between a debtor
and the debtor's creditors for the purpose of settling, compromising, or in any
way altering the terms of payment of any debts of the debtor and who:
(A) Receives money, property, or other thing
of value from the debtor, or on behalf of the debtor, for distribution among
the creditors of the debtor, or
(B) Otherwise arranges for payment to, or
distribution among, the creditors of the debtor;
(3) "Debtor" means an individual and
includes two or more individuals who are jointly and severally or jointly or
severally indebted;
(4) "Nonprofit organization" means a
corporation or association, no part of the net earnings of which may inure to
the benefit of any private shareholder or individual. [L 1967, c 3, §2; HRS
§446-1; gen ch 1985]