reglab/statecodes huggingface dataset:
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 59 - PLAN PROVISIONS › Subchapter 4 - INVESTMENTS › Section 14-59-12 - Investment of deferred amounts

Current through June, 2024
(a) The board is
				  authorized to determine the type of investment product(s) for the plan.
				  However, the investment product shall guarantee a full return of principal. The
				  board may add or eliminate an investment product or company under the plan. The
				  board may also direct that additional investments shall not be made in a
				  particular investment product or company under the plan.
(b) Amounts deferred under the plan shall be
				  invested in the product(s) selected by the board. Contracts entered into
				  between the board and the company(ies) selected by the board to offer the
				  investment product(s) for the plan shall be binding upon the
				  participants.
(c) Any action taken
				  by the board regarding the investment of amounts deferred shall not be
				  considered as guaranteeing any return on investment.
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 59 - PLAN PROVISIONS › Subchapter 5 - ACCOUNTS AND REPORTS › Section 14-59-13 - Individual accounts

Current through June, 2024
To facilitate orderly administration of the plan, the
					 investment provider shall maintain a deferred compensation account for each
					 participant on behalf of the board.
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 59 - PLAN PROVISIONS › Subchapter 5 - ACCOUNTS AND REPORTS › Section 14-59-14 - Adjustments to accounts

Current through June, 2024
Each participant's account shall be credited with the
					 amount of compensation deferred and shall be further adjusted by any earnings
					 resulting from investments made and any costs for implementing and
					 administering the plan, as authorized by the board.
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 59 - PLAN PROVISIONS › Subchapter 5 - ACCOUNTS AND REPORTS › Section 14-59-15 - Reports on accounts

Current through June, 2024
The investment provider shall provide each participant with
					 written reports at least once annually on the participant's deferred
					 compensation account, and at the time a distribution is made, as authorized by
					 the board. The written reports shall include, but not be limited to: the
					 accumulated amounts of compensation which have been deferred and invested, any
					 amounts credited to the participant's account by way of interest, dividends, or
					 other proceeds flowing from the participant's accumulation, and the balance of
					 the participant's account.
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 59 - PLAN PROVISIONS › Subchapter 5 - ACCOUNTS AND REPORTS › Section 14-59-16 - Disclosure of information

Current through June, 2024
Information about a participant shall only be disclosed to
					 the participant, a person authorized in writing by the participant, or those
					 involved in the administration of the plan, unless otherwise authorized by law.
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 59 - PLAN PROVISIONS › Subchapter 6 - DISTRIBUTION OF BENEFITS FOR AMOUNTS LESS THAN OR EQUAL TO THREE THOUSAND FIVE HUNDRED DOLLARS › Section 14-59-17 - Earliest distribution

Current through June, 2024
Benefits under the plan shall be paid or made available to
					 the participant or his/her beneficiary no earlier than separation from service.
					 A separation from service shall not be deemed to have occurred in situations
					 where the employer knowingly intends to resume the employer-employee
					 relationship or the employee is aware of being rehired with the State or
					 participating county (e.g., thirty-day emergency hires).
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 59 - PLAN PROVISIONS › Subchapter 6 - DISTRIBUTION OF BENEFITS FOR AMOUNTS LESS THAN OR EQUAL TO THREE THOUSAND FIVE HUNDRED DOLLARS › Section 14-59-18 - Separation from service; distribution request form; filing requirements; form and time of distribution

Current through June, 2024
A participant shall notify the investment provider in
					 writing on a form prescribed by the board when a separation from service
					 occurs. A participant shall complete a distribution request form and any other
					 documentation required by the board and investment provider. After verification
					 of the separation from service, a lump sum distribution of amounts deferred
					 shall be paid to the participant within sixty days, unless the participant
					 elects a plan-to-plan transfer in accordance, with section
					 14-59-31.
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 59 - PLAN PROVISIONS › Subchapter 6 - DISTRIBUTION OF BENEFITS FOR AMOUNTS LESS THAN OR EQUAL TO THREE THOUSAND FIVE HUNDRED DOLLARS › Section 14-59-19 - No contributions for one year

Current through June, 2024
If no contributions on behalf of a participant are received
					 by the, investment provider for a period of one year, the investment provider
					 shall mail a written request to the last known address of the participant to
					 ascertain whether a separation from service has occurred. The written request
					 shall be mailed at least once each plan year, as determined by the board,
					 unless the participant received a similar written request in a prior plan year.
					 Upon the participant's submission of appropriate documentation and verification
					 of a separation from service, the investment provider shall process a
					 distribution within sixty days thereafter.
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 59 - PLAN PROVISIONS › Subchapter 6 - DISTRIBUTION OF BENEFITS FOR AMOUNTS LESS THAN OR EQUAL TO THREE THOUSAND FIVE HUNDRED DOLLARS › Section 14-59-20 - Distribution to beneficiary

Current through June, 2024
Upon the death of a participant, the beneficiary shall
					 notify the investment provider of the participant's death. After verification
					 of the participant's death and completion of all documentation required by the
					 board and the investment provider, a lump sum distribution of amounts deferred
					 shall be paid to the beneficiary within sixty days.
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 59 - PLAN PROVISIONS › Subchapter 6 - DISTRIBUTION OF BENEFITS FOR AMOUNTS LESS THAN OR EQUAL TO THREE THOUSAND FIVE HUNDRED DOLLARS › Section 14-59-21 - Withholding of taxes; income tax statement

Current through June, 2024
All payments under the plan shall be subject to applicable
					 tax withholding requirements. Upon distribution of amounts deferred, the
					 investment provider shall withhold applicable federal and state taxes and shall
					 provide the participant or beneficiary, as applicable, with the appropriate
					 statement for income tax purposes.
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 59 - PLAN PROVISIONS › Subchapter 6 - DISTRIBUTION OF BENEFITS FOR AMOUNTS LESS THAN OR EQUAL TO THREE THOUSAND FIVE HUNDRED DOLLARS › Section 14-59-22 - Mailing of payments

Current through June, 2024
Distributions shall be mailed to the last home address on
					 file with the investment provider, unless otherwise requested in writing by the
					 participant or beneficiary.
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 59 - PLAN PROVISIONS › Subchapter 7 - DISTRIBUTION OF BENEFITS FOR AMOUNTS GREATER THAN THREE THOUSAND FIVE HUNDRED DOLLARS › Section 14-59-23 - Earliest distribution

Current through June, 2024
Benefits under the plan shall be paid or made available to
					 the participant or his/her beneficiary no earlier than separation from service.
					 A separation from service shall not be deemed to have occurred in situations
					 where the employer knowingly intends to resume the employer-employee
					 relationship or the employee is aware of being rehired with the State or
					 participating county (e.g., thirty-day emergency hires).
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 59 - PLAN PROVISIONS › Subchapter 7 - DISTRIBUTION OF BENEFITS FOR AMOUNTS GREATER THAN THREE THOUSAND FIVE HUNDRED DOLLARS › Section 14-59-24 - Latest commencement of distribution

Current through June, 2024
The payment to a participant of amounts deferred shall
					 commence no later than the time specified in the Code and the plan
					 document.
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 59 - PLAN PROVISIONS › Subchapter 7 - DISTRIBUTION OF BENEFITS FOR AMOUNTS GREATER THAN THREE THOUSAND FIVE HUNDRED DOLLARS › Section 14-59-25 - Election of distribution

Current through June, 2024
No later than thirty days after the close of the calendar
					 year in which the participant separates from service, the participant shall
					 irrevocably elect a time of distribution which is not later than the latest
					 period listed in section
					 14-59-24
					 and a form of distribution listed in section
					 14-59-26.
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 59 - PLAN PROVISIONS › Subchapter 7 - DISTRIBUTION OF BENEFITS FOR AMOUNTS GREATER THAN THREE THOUSAND FIVE HUNDRED DOLLARS › Section 14-59-26 - Selection of payment options

Current through June, 2024
A participant may elect to receive one of the following
					 methods of distributions:
(1) Lump
				  sum; or
(2) Substantially
				  nonincreasing annual installments over a period not to exceed five
				  years.
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 59 - PLAN PROVISIONS › Subchapter 7 - DISTRIBUTION OF BENEFITS FOR AMOUNTS GREATER THAN THREE THOUSAND FIVE HUNDRED DOLLARS › Section 14-59-27 - Failure to select time or form of distribution

Current through June, 2024
Participants who fail to elect a time or form of
					 distribution within the time period noted in section
					 14-59-25,
					 shall be deemed to have elected a lump sum distribution which shall be paid
					 within sixty days after the close of the plan year in which the participant
					 separates from service.
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 59 - PLAN PROVISIONS › Subchapter 7 - DISTRIBUTION OF BENEFITS FOR AMOUNTS GREATER THAN THREE THOUSAND FIVE HUNDRED DOLLARS › Section 14-59-28 - Distribution to beneficiary

Current through June, 2024
Upon the death of a participant, the beneficiary shall
					 notify the investment provider of the participant's death. After verification
					 of the participant's death and completion of all documentation required by the
					 board and investment provider, a lump sum distribution of amounts deferred or
					 remaining amounts deferred shall be paid to the beneficiary within sixty
					 days.
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 59 - PLAN PROVISIONS › Subchapter 7 - DISTRIBUTION OF BENEFITS FOR AMOUNTS GREATER THAN THREE THOUSAND FIVE HUNDRED DOLLARS › Section 14-59-29 - Withholding of taxes; income tax statement

Current through June, 2024
All payments under the plan shall be subject to applicable
					 tax withholding requirements. Upon distribution of amounts deferred, the
					 investment provider shall withhold applicable federal and state taxes and shall
					 provide the participant or beneficiary, as applicable, with the appropriate
					 statement for income tax purposes.
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 59 - PLAN PROVISIONS › Subchapter 7 - DISTRIBUTION OF BENEFITS FOR AMOUNTS GREATER THAN THREE THOUSAND FIVE HUNDRED DOLLARS › Section 14-59-30 - Mailing of payments

Current through June, 2024
Distributions shall be mailed to the last home address on
					 file with the investment provider, unless otherwise requested in writing by the
					 participant or beneficiary.
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 59 - PLAN PROVISIONS › Subchapter 8 - PLAN-TO-PLAN TRANSFERS › Section 14-59-31 - Transfers to another eligible plan

Current through June, 2024
Pursuant to section 457(e)(10) of the Code, when a
					 participant separates from service or loses eligibility to participate in the
					 plan, the participant may elect to transfer the amounts deferred into any other
					 plan established under section 457 of the Code and which provides for
					 plan-to-plan transfers; The participant shall notify the investment provider of
					 the desire to exercise a plan-to-plan transfer after separation from service or
					 loss of eligibility to participate in the plan. The participant shall also
					 complete any documentation required by the investment provider. The transfer
					 shall be made as soon as practicable thereafter.
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 59 - PLAN PROVISIONS › Subchapter 8 - PLAN-TO-PLAN TRANSFERS › Section 14-59-32 - Transfers from another eligible plan

Current through June, 2024
This plan shall not accept the transfer of a participant's
					 previously deferred amounts under another deferred compensation
					 plan.
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 59 - PLAN PROVISIONS › Subchapter 9 - BOARD REVIEW OF INVESTMENT PROVIDER'S ACTIONS › Section 14-59-33 - Request for board review

Current through June, 2024
(a) A board review
				  may be requested by an employee regarding any action taken by the investment
				  provider, as it applies to the employee, which the employee believes is
				  inconsistent with the plan or this chapter. The employee shall make reasonable
				  efforts to resolve the disagreement with the investment provider prior to
				  requesting a board review.
(b) All
				  requests for board review shall be in writing and shall state the efforts taken
				  to resolve the disagreement with the investment provider, the specific reason
				  why the action taken by the investment provider is inconsistent with the plan
				  or this chapter, the action requested, and the reason why the requested action
				  is proper.
(c) Requests for board
				  review shall be filed within thirty days of the date of the action taken by the
				  investment provider.
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 59 - PLAN PROVISIONS › Subchapter 9 - BOARD REVIEW OF INVESTMENT PROVIDER'S ACTIONS › Section 14-59-34 - Disposition of request

Current through June, 2024
An employee's request for a board review may be disposed of
					 with or without an appearance before the board. The employee shall be promptly
					 notified by the board in writing of the results of its
					 review.
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 60 - AMENDMENT OR TERMINATION OF THE PLAN › Section 14-60-1 - Amendment or termination of the plan

Current through June, 2024
The board is authorized to amend or terminate this plan at
				  any time. In the event of termination of the plan, the participants shall be
				  considered as having withdrawn from the plan on the effective date of the
				  plan's termination. Participants shall be treated as though a separation from
				  service occurred, deferrals of compensation shall cease, and amounts deferred
				  shall be payable within a reasonable period of time thereafter.
Hawaii Administrative Rules › Title 14 - DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT › Subtitle 6 - STATE OF HAWAII PTS DEFERRED COMPENSATION RETIREMENT PLAN (FOR PART-TIME, TEMPORARY, SEASONAL/CASUAL EMPLOYEES) › Chapter 61 - APPLICABLE LAWS AND REGULATIONS › Section 14-61-1 - Applicability of laws and regulations

Current through June, 2024
(a) This plan shall
				be construed under the laws of the State of Hawaii.
(b) Notwithstanding any provisions in this
				chapter, all provisions and interpretations of this plan shall be consistent
				with sections 457 and 3121 of the Code, as amended, and any regulations
				thereunder.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Department of Business, Economic Development and Tourism › Chapter 1 - ADMINISTRATIVE RULES OF THE DEPARTMENT › Section 15-1-1 - Scope and purpose

Current through June, 2024
(a) This chapter
				shall apply to all divisions, offices, programs, and activities of the
				department but shall not apply to those agencies of the department authorized
				by statute to adopt rules.
(b) The
				purpose of this chapter is to provide rules of practice and procedure governing
				the manner in which persons may obtain information from the department;
				petition for the adoption, amendment, or repeal of rules; or petition for a
				declaratory order by the director.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Department of Business, Economic Development and Tourism › Chapter 1 - ADMINISTRATIVE RULES OF THE DEPARTMENT › Section 15-1-2 - Definitions

Current through June, 2024
As used in this chapter, unless a different meaning clearly
				  appears in the context:
"Agency" means a board or commission statutorily assigned to
				  the department for administrative purposes, but does not include a division,
				  office, program, or activity of the department;
"Department" means the department of planning and economic
				  development, and any of its divisions, offices, programs, or activities, but
				  does not include an agency;
"Director" means the director of planning and economic
				  development;
"Information office" means the information office of the
				  department;
"Office hours" means from 7:45 a.m. to 4:30 p.m., Mondays
				  through Fridays, unless otherwise provided by statute or executive
				  order;
"Person" means an individual, partnership, corporation,
				  association, or a public or private organization of any character;
"Public record" means any written, typed, or printed
				  material as defined by statute.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Department of Business, Economic Development and Tourism › Chapter 1 - ADMINISTRATIVE RULES OF THE DEPARTMENT › Section 15-1-3 - Public information and public records

Current through June, 2024
(a) Any person may
				obtain information within the jurisdiction of the department by inquiring at
				the information office in person or by telephone, during office hours, or by
				submitting a written request to the information office.
(b) Any person may inspect a copy of rules of
				the department at the information office during office hours.
(c) Any person may inspect written statements
				of policy or interpretation formulated, adopted, or used by the department in
				the discharge of its functions and all final opinions and orders of the
				director, at the office of the director, during office hours.
(d) Any person may inspect or request a copy
				of any public record by calling at the appropriate organization of the
				department which has custody of the public record, or the information office,
				during office hours.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Department of Business, Economic Development and Tourism › Chapter 1 - ADMINISTRATIVE RULES OF THE DEPARTMENT › Section 15-1-4 - Petition for adoption, amendment or repeal of rules; procedure and processing

Current through June, 2024
(a) Any person may
				petition the director for adoption, amendment, or repeal of any rule of the
				department by submitting a signed letter to the director. The letter of the
				petitioner shall contain:
(1) A statement of
				the nature of the petitioner's interest in the rule;
(2) A statement of the reason or reasons in
				support of the proposed rule, amendment, or repeal;
(3) A draft or the substance of the proposed
				rule or amendment, in the case of a petition for adoption or amendment of a
				rule;
(4) The specific section or
				sections affected by the request;
(5) A statement that the petition is being
				made pursuant to this section; and,
(6) The name, address, and telephone number
				of the petitioner.
Any petition which does not conform to the requirements of
				  this section may be rejected by the director.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Department of Business, Economic Development and Tourism › Chapter 1 - ADMINISTRATIVE RULES OF THE DEPARTMENT › Section 15-1-5 - Declaratory ruling by the director; procedure and processing

Current through June, 2024
(a) Any person may petition the director for
				a declaratory order as to the applicability of any statutory provision or of
				any rule or order of the department, by submitting a signed letter to the
				director. The letter of the petitioner shall contain:
(1) A statement of the nature of the
				petitioner's interest, including reasons for the submission of the
				petition;
(2) A designation of the
				specific statutory provision, rule, or order in question;
(3) A statement of the relevant
				facts;
(4) A statement of the
				interpretation given the statutory provision, rule, or order by the petitioner,
				including any legal authorities, in support of the interpretation of the
				petitioner;
(5) A statement that
				the petition is being made pursuant to this section; and,
(6) The name, address, and telephone number
				of the petitioner.
Any petition which does not conform to the requirements of
				  this section may be rejected by the director.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Department of Business, Economic Development and Tourism › Chapter 2 - HAWAII CAPITAL LOAN PROGRAM › Section 15-2-1 - Purpose

Current through June, 2024
The purpose of this chapter is to provide rules governing
				  implementation of the Hawaii capital loan program authorized by chapter 210,
				  Hawaii Revised Statutes.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Department of Business, Economic Development and Tourism › Chapter 2 - HAWAII CAPITAL LOAN PROGRAM › Section 15-2-2 - Definitions

Current through June, 2024
As used in this chapter, unless a different meaning clearly
				  appears in the context:
"Department" means the department of business and economic
				  development;
"Director" means the director of business and economic
				  development;
"Financial institution" includes, but is not limited to,
				  banks and other lending institutions whose regular course of business entails
				  the making of commercial and industrial loans;
"Loan" means a direct loan made by the department, a loan in
				  which the State participates with financial institutions, including the SBA, or
				  a loan made to a local development company;
"Local development company" means a corporation chartered
				  under any applicable state corporation law to operate in a specified area
				  within the State;
"SBA" means the Small Business Administration of the United
				  States Government;
"SBIA" means the Small Business Investment Act of 1958 (
				  P.L. 85-699 ), as amended;
"SBIC" means the Small Business Investment Company which
				  provides venture capital to meet the equity needs of small business
				  concerns;
"Small business concern" means any business entity,
				  including its affiliates or subsidiaries, which is non-dominant in its field
				  and organized for profit, and which conforms with the SBA definition of a small
				  business as defined by title 13, section 121.3-10 of the Code of Federal
				  Regulations;
"State" means the State of Hawaii.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Department of Business, Economic Development and Tourism › Chapter 2 - HAWAII CAPITAL LOAN PROGRAM › Section 15-2-3 - Purpose of loans

Current through June, 2024
(a) The department
				may make loans to small business concerns for the purpose of financing plant
				construction, conversion, expansion, acquisition of land for expansion,
				acquisition of equipment, machinery, supplies, or materials, or for the
				supplying of working capital.
(b)
				Loans shall not be granted in any of the following instances:
(1) Where the direct or indirect purpose or
				result of granting the loan would be to:
(A)
				Pay off a creditor or creditors of the applicant who are inadequately secured
				and are in a position to sustain a loss; or
(B) Provide funds, directly or indirectly,
				for payment, distribution, or as a loan to owners, partners, or share- holders
				of the applicant's business, except as ordinary compensation for services
				rendered; or
(C) Refund a debt owed
				to a small business investment company; or
(D) Replenish funds heretofore used for any
				of the above purposes;
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Department of Business, Economic Development and Tourism › Chapter 2 - HAWAII CAPITAL LOAN PROGRAM › Section 15-2-4 - Types of loans; policy on direct and participation loans

Current through June, 2024
(a)
				The department may make two types of loans:
(1) Direct loans; and
(2) Participation loans made in conjunction
				with loans made by other financial institutions, including the SBA.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Department of Business, Economic Development and Tourism › Chapter 2 - HAWAII CAPITAL LOAN PROGRAM › Section 15-2-5 - Eligibility requirements

Current through June, 2024
Consideration for loans under this chapter shall be extended
				  only to applicants who meet the following requirements:
(1) The applicant is a small business concern
				authorized to do business in the State;
(2) The applicant is not able to obtain the
				desired loan on reasonable terms from the financial institutions principally
				dealt with;
(3) The applicant
				furnishes information to show that the applicant has the ability to repay the
				loan out of income from the business;
(4) The applicant shall have enough equity
				invested or to invest so that if the loan is approved, it can operate on a
				sound financial basis;
(5) Adequate
				collateral is required to reasonably protect the State's interest. The amount
				of Collateral needed, considered along with other credit factors, is determined
				on a case-by-case basis; and
(6)
				The purpose of the loan is in conformity with provisions of section
				15-2-3.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Department of Business, Economic Development and Tourism › Chapter 2 - HAWAII CAPITAL LOAN PROGRAM › Section 15-2-6 - Application procedure

Current through June, 2024
(a) Before applying
				to the department, an applicant shall make every effort to obtain the loan from
				a financial institution, including the SBA. If the applicant is unable to
				obtain the loan from a financial institution or other source, the applicant
				shall ascertain whether a financial institution or other source, or both; would
				be willing to make the loan in participation with the department.
(b) All persons applying for loans shall
				utilize the department's loan application form or the appropriate SBA forms
				which may be obtained from any commercial bank or the local SBA
				office.
(c) Copies of the
				application form shall be submitted first to the applicant's financial
				institution principally dealt with. If a loan is not available, or if the
				financial institution declines to make a participation loan, the application
				shall then be submitted to at least one other financial institution before it
				is submitted to the economic development division of the department.
(d) All financial statements submitted by an
				applicant shall show the applicable date of the information given and shall be
				signed and certified by the proprietor, partner, or public accountant. The
				department may require an audited statement. The department may also require
				that financial statements accompanying applications include balance sheets and
				profit and loss statements for the past five tax years and a year-to-date
				interim financial statement dated no later than 90 days of application
				date.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Department of Business, Economic Development and Tourism › Chapter 2 - HAWAII CAPITAL LOAN PROGRAM › Section 15-2-7 - Consideration and review of applications

Current through June, 2024
(a) Applications
				for loans shall be considered only when there is evidence that the loan is not
				available on reasonable terms from other sources. The loan applied for shall be
				deemed to be otherwise available on reasonable terms, unless the applicant
				provides proof of refusal of all or a part of the required loan from the
				applicant's financial institution principally dealt with. The department shall
				require proof of refusal from more than one financial institution if the loan
				is considered likely to be available in whole or in part from other financial
				institutions. Proof of refusal shall contain the date of application, amount,
				and terms requested, and the financial institution's reasons for not granting
				the desired loan. The financial institution's refusal to advance credit shall
				not be considered the full test of unavailability of credit, and where there is
				reason to believe that credit is otherwise available on reasonable terms from
				sources other than such financial institution, the loan applied for may not be
				granted not withstanding the receipt of a written refusal from such financial
				institution.
(b) The department
				need not consider an application for a loan if the amount of loan required is
				obtainable:
(1) On reasonable terms through
				the public offering or private placing of securities of the applicant;
				or
(2) Through the disposal at fair
				price of assets not required by the applicant in the conduct of its Existing
				business or not reasonably necessary to its potential healthy growth;
				or
(3) Without undue hardship
				through utilization of the personal credit or resources of the owner, partners,
				management or principal shareholders of the applicant; or
(4) Through other appropriate government
				financing.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Department of Business, Economic Development and Tourism › Chapter 2 - HAWAII CAPITAL LOAN PROGRAM › Section 15-2-8 - Preferences and priorities in granting loans

Current through June, 2024
In granting loans, the department shall be guided by the
				  nature of the small business concern and the potential economic advantage it
				  offers the State or the increased job creation the loan will
				  provide.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Department of Business, Economic Development and Tourism › Chapter 2 - HAWAII CAPITAL LOAN PROGRAM › Section 15-2-9 - Maximum loan amount; loan terms and restrictions

Current through June, 2024
(a) No loans
				shall be granted unless financial assistance is not available to the applicant.
				The condition may be waived by the director for participation loans with a
				private financial institution.
(b)
				Direct and participating loans to any one applicant shall not exceed $1,000,000
				in state funds.
(c) The director
				shall determine the extent and kinds of security required for each loan. When
				loans are secured, such security may be subordinated to direct loans made by
				financial institutions.
(d) No loan
				shall be granted for a period exceeding twenty years. The following guidelines
				shall be used by the department is setting loan terms;
(1) Working capital loans shall in most
				instances be for a maximum of six years;
(2) Loans to purchase fixed assets, including
				land, construction, etc., may be for periods up to a maximum of twenty years,
				but normally shall be ten years.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Department of Business, Economic Development and Tourism › Chapter 2 - HAWAII CAPITAL LOAN PROGRAM › Section 15-2-10 - Inspection of premises and records

Current through June, 2024
The department shall have the right to inspect, at
				  reasonable hours, the plant, physical facilities, equipment, premises, books,
				  and records of any business concern either in connection with the processing of
				  a loan application or in the administration of a loan granted to that business
				  concern.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Department of Business, Economic Development and Tourism › Chapter 2 - HAWAII CAPITAL LOAN PROGRAM › Section 15-2-11 - Annual reports required of borrowers; interim reports

Current through June, 2024
During the life of a loan, each borrower shall submit to the
				  director, annually, financial reports consisting of a balance sheet and profit
				  and loss statement on either a fiscal year or calendar year basis, depending on
				  the tax reporting period of the borrower. These reports shall be submitted no
				  later than four months after the close of the applicable tax period. The
				  department may require the filing of interim financial statements and reports
				  and the submission of progress and final reports relating to any aspects of the
				  business.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Department of Business, Economic Development and Tourism › Chapter 2 - HAWAII CAPITAL LOAN PROGRAM › Section 15-2-12 - Default

Current through June, 2024
(a) Loans that are three installments in
				arrears shall be considered in default. The borrower shall also be considered
				to be in default for failure to comply with any term or condition of the loan
				authorization, loan agreement, or mortgage. If the borrower is in default, the
				whole of the loan, at the option of the director, shall become due and payable.
				The director may foreclose any mortgage by any method provided by law. Any
				expense incurred by the department for recovering of moneys shall be borne by
				the borrower.
(b) Loans in default
				shall be referred to the state attorney general for collection and action if
				the department is not able to obtain payment.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Department of Business, Economic Development and Tourism › Chapter 2 - HAWAII CAPITAL LOAN PROGRAM › Section 15-2-13 - Local development company loans

Current through June, 2024
(a) The department
				may make loans to local development companies approved by the SBA as qualifying
				for loans under section 502, 503 and 504 of the SBIA. In order to qualify for
				loans, the local development company shall have the sole purpose of enhancing
				the economic growth of the geographic area in which it is chartered to operate.
				The loan made by the department may represent a portion of the local
				development company's private capital which must be raised before any loan will
				be approved by the SBA.
(b) Any
				local development company which has become incorporated under the state
				corporate law and which satisfies the qualifications required by the SBA shall
				be eligible to apply to the department.
(c) The loan made to a local development
				company may be made for assistance to any identifiable small business only for
				the purpose of land acquisition, construction, machinery, and equipment.
				However, each such loan to a local development company shall be subject to the
				following restrictions:
(1) Loans for any
				single project shall be of such an amount as determined by the department to be
				necessary and proper, but in no instance shall be more than twenty per cent of
				the total cost of the project or any other maximum established by
				law;
(2) The terms of the loan may
				be for a period of twenty-five years plus construction time, which time may be
				extended, at the discretion of the director, for a period up to, but not in
				excess of, ten years; or for such a period as that in effect for local
				development company loans by the SBA at the time of the making of the
				loan;
(3) The interest shall be
				determined by the director, but shall not be less than the annual rate in
				effect by the SBA for local development company loans at the time of the making
				of the loan;
(4) The initial
				payment of principal may be made concurrent with or placed in a standby
				position to the SBA loan. Interest shall be paid concurrently with the SBA
				loan;
(5) The department shall
				ensure that all terms and conditions of any loan made to a local development
				company shall conform as closely as possible to those prescribed the SBA
				subject to the State restrictions.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Department of Business, Economic Development and Tourism › Chapter 3 - CAPITAL ACCESS PROGRAM › Section 15-3-1 - Purpose

Current through June, 2024
The purpose of this chapter is to provide rules governing
				  implementation of the Hawaii Capital Access Program (HICAP) authorized by
				  chapter 211D, Hawaii Revised Statues.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Department of Business, Economic Development and Tourism › Chapter 3 - CAPITAL ACCESS PROGRAM › Section 15-3-2 - Definitions

Current through June, 2024
As used in this chapter, unless a different meaning clearly
				  appears in the context:
"Adult residential care home" means a duly licensed facility
				  providing twenty-four hour living accommodations, for a fee, to adults
				  unrelated to the family, who require at least minimal assistance in the
				  activities of daily living, but who do not need the services of an intermediate
				  care facility.
"Capital access loan" means a loan that is entitled to be
				  secured by the fund;
"Child care facility" means a duly licensed or registered
				  child care facility maintained by any individual, organization or agency, that
				  charges a fee, for the purpose of providing care for children. It includes a
				  family child care home, group child care home, and group child care
				  center;
"Department" means the department of business, economic
				  development, and tourism;
"Fund" means the Hawaii capital loan revolving fund
				  established in section
				  210-3, HRS;
"Lender" means a financial institution including a bank,
				  trust company, banking association, savings and loan association, mortgage
				  company, investment bank, credit union, or nontraditional financial
				  institution;
"Loan" includes, but is not limited to a line of
				  credit;
"Medium-sized business" means a for profit corporation,
				  limited liability company, partnership, limited liability partnership, sole
				  proprietorship, or other legal entity that:
(1) Is domiciled and authorized to do business in Hawaii;
				  and
(2) Employs one hundred (100) or more but fewer than five
				  hundred (500) full-time employees in Hawaii;
"Nonprofit organization" means a private, nonprofit,
				  tax-exempt corporation, association, or organization qualified under section
				  501(c)(3), Internal Revenue Code of 1986, as amended, that is domiciled in
				  Hawaii;
"Program" means the Hawaii Capital Access Program;
"Reserve account" means an account established with a lender
				  with the approval of the department, in which money is deposited to serve as a
				  source of additional revenue to reimburse the lender for losses on loans
				  enrolled in the program;
"Small-sized business" means a for profit corporation,
				  limited liability company, partnership, limited liability partnership, sole
				  proprietorship, or other legal entity that:
(1) Is domiciled and authorized to do business in
				  Hawaii;
(2) Is independently owned and operated; and
(3) Employs fewer than one hundred (100) full-time employees
				  in Hawaii.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Department of Business, Economic Development and Tourism › Chapter 3 - CAPITAL ACCESS PROGRAM › Section 15-3-3 - Capital Access Program

Current through June, 2024
(a) The purpose of
				the program is to assist lenders in making loans to small and medium-sized
				businesses and nonprofit organizations that face barriers in obtaining capital.
				The loan shall be used for a project, activity or enterprise in Hawaii that
				fosters economic development in Hawaii. The department may use money from the
				fund to make a deposit in a lender's reserve account, in an amount specified in
				this chapter, to be a source of money the lender may receive as reimbursement
				for losses on loans covered by the reserve account.
(b) The department shall determine the
				eligibility of a lender to participate in the program and may set a limit on
				the number of eligible lenders that may participate in the program.
(c) To participate in the program, an
				eligible lender shall enter into a participation agreement with the department
				that sets out the terms and conditions under which the department would make
				contributions to the reserve account established by the lender and specifies
				the criteria for a loan to qualify as a capital access loan.
(d) To qualify as a capital access loan, a
				loan shall:
(1) Be made to a small or
				medium-sized business or to a nonprofit organization as defined in this
				chapter;
(2) Be used for a project,
				activity, or enterprise in Hawaii, that fosters economic development in Hawaii;
				and
(3) Meet any other criteria
				provided by this chapter or established by the department.
Hawaii Administrative Rules › Title 15 - DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM › Department of Business, Economic Development and Tourism › Chapter 3 - CAPITAL ACCESS PROGRAM › Section 15-3-4 - Provisions and restrictions relating to capital access loans

Current through June, 2024
(a)
				The lender shall be responsible for determining the recipient, the amount and
				interest rate of a capital access loan, and the fees and other related
				requirements related to the loan.
(b) When enrolling a loan in the program, a
				lender may specify an amount to be covered under the program that is less than
				the total amount of the loan.
(c)
				The maximum loan amount of one or more loans to any single borrower is
				$1,250,000.
(d) The department, in
				its discretion, may allow a capital access loan to be sold on the secondary
				market under terms and conditions established or required by the
				department.
(e) A capital access
				loan may only be used for:
(1) working
				capital, which includes the cost of exporting, accounts receivable, payroll,
				inventory, and other short-term financing needs of the borrower; or
(2) the purchase, construction, or lease of
				capital assets, including buildings and equipment used by the
				borrower.