§449-1  Definitions.  As used in this
chapter:



"Acquisition of control" means
acquisition by a person or persons acting in concert of the power to vote
fifty-one per cent or more of any voting securities of a licensee.



"Commissioner" means the commissioner
of financial institutions of this State.



"Division" means the division of
financial institutions of the department of commerce and consumer affairs.



"Escrow" means any transaction
affecting the title to real property, including leaseholds, proprietary
leaseholds, and condominiums, in which a person not a party to the transaction
and neither having nor acquiring any interest in the title receives from one
party to the transaction, holds until the happening of an event or performance
of a condition and then delivers to another party to the transaction, any money
or other consideration or any instrument affecting the title to that real
property, all in accordance with the terms of the agreement between the parties
to the transaction.



"Escrow account" means any escrow
depository account with a financial institution to which cash or items are
deposited with respect to any escrow.



"Escrow depository" means the
corporation which, in an escrow, and for compensation, receives, holds, and
delivers the money, other consideration, or instrument affecting title to real
property.



"Financial institution" means any
bank, savings and loan association, financial services loan company, or credit
union doing business in the State whose accounts are insured by the Federal
Deposit Insurance Corporation, the National Credit Union Share Insurance Fund
or other similar or successor program of federal insurance.



"Item" means any check (including a
cashier's or certified check), negotiable order of withdrawal, draft,
traveler's check, or money order.



"Person" means, in addition to the
singular, persons, group of persons, cooperative association, company, firm,
partnership, corporation, or other legal entity, and includes the agents and
employees of any person. [L 1967, c 144, pt of §1; HRS §449-1; am L 1985, c
269, §49; am L 1986, c 331, §1; am L 1992, c 205, §2; am L 2001, c 184, §2]