§420-1 Definitions. As used in this chapter, the following words and phrases, unless differently defined or described, shall have the meanings and references as follows:

"Board of directors": The board of directors of the corporation created under this chapter.

"Corporation": A business development corporation created under this chapter.

"Financial institution": Any banking corporation or trust company, building and loan association, insurance company, or related corporation, partnership, foundation, or other institution engaged primarily in lending or investing funds.

"Loan limit": For any member, the maximum amount permitted to be outstanding at one time on loans made by the members to the corporation, as determined under this chapter.

"Member": Any person, corporation, company, association, partnership, foundation, or other institution, including any financial institution, which or who undertakes to lend money to a corporation created under this chapter, upon its call, and in accordance with this chapter, but not including the Small Business Administration and any other federal agency.

"Pacific Islands": The State of Hawaii, American Samoa, Guam, the Cook Islands, Easter Island, the Federated States of Micronesia, Fiji, Kiribati, the Marshall Islands, Nauru, New Caledonia, Niue, the Northern Mariana Islands, Belau (Palau), Papua New Guinea, Pitcairn Island, the Solomon Islands, Tokelau, Tonga, Tuvalu, Vanuatu, Wallis and Futuna, French Polynesia, and Western Samoa. [L 1957, c 288, §1; am L 1959, c 124, §1; am L 1964, c 41, §3; Supp, §176A-1; HRS §420-1; am L 1974, c 130, §1; am L 1995, c 15, §1]