Haw. Code R. § 11-280.1-200 - Definitions
(a) UST technical standards, as used in this
subchapter, refers to the UST preventative and operating requirements under
subchapters 2, 3, 4, 7, and 10 and section
11-280.1-50.
(b) Petroleum production, refining, and
marketing.
(1) "Petroleum production" means
the production of crude oil or other forms of petroleum (as defined in section
11-280.1-12) as well as the
production of petroleum products from purchased materials.
(2) "Petroleum refining" means the cracking,
distillation, separation, conversion, upgrading, and finishing of refined
petroleum or petroleum products.
(3) "Petroleum marketing" means the
distribution, transfer, or sale of petroleum or petroleum products for
wholesale or retail purposes.
(c) "Indicia of ownership" means evidence of
a secured interest, evidence of an interest in a security interest, or evidence
of an interest in real or personal property securing a loan or other
obligation, including any legal or equitable title or deed to real or personal
property acquired through or incident to foreclosure. Evidence of such
interests include, but are not limited to, mortgages, deeds of trust, liens,
surety bonds and guarantees of obligations, title held pursuant to a lease
financing transaction in which the lessor does not select initially the leased
property (hereinafter "lease financing transaction"), and legal or equitable
title obtained pursuant to foreclosure. Evidence of such interests also
includes assignments, pledges, or other rights to or other forms of encumbrance
against property that are held primarily to protect a security interest. A
person is not required to hold title or a security interest in order to
maintain indicia of ownership.
(d)
A "holder" is a person who, upon the effective date of this regulation or in
the future, maintains indicia of ownership (as defined in subsection (c))
primarily to protect a security interest (as defined in subsection (f)(1)) in a
petroleum UST or UST system or facility or property on which a petroleum UST or
UST system is located. A holder includes the initial holder (such as a loan
originator); any subsequent holder (such as a successor-in-interest or
subsequent purchaser of the security interest on the secondary market); a
guarantor of an obligation, surety, or any other person who holds ownership
indicia primarily to protect a security interest; or a receiver or other person
who acts on behalf or for the benefit of a holder.
(e) A "borrower, debtor, or obliger" is a
person whose UST or UST system or facility or property on which the UST or UST
system is located is encumbered by a security interest. These terms may be used
interchangeably.
(f) "Primarily to
protect a security interest" means that the holder's indicia of ownership are
held primarily for the purpose of securing payment or performance of an
obligation.
(1) "Security interest" means an
interest in a petroleum UST or UST system or in the facility or property on
which a petroleum UST or UST system is located, created or established for the
purpose of securing a loan or other obligation. Security interests include but
are not limited to mortgages, deeds of trusts, liens, and title pursuant to
lease financing transactions. Security interests may also arise from
transactions such as sale and leasebacks, conditional sales, installment sales,
trust receipt transactions, certain assignments, factoring agreements, accounts
receivable financing arrangements, and consignments, if the transaction creates
or establishes an interest in an UST or UST system or in the facility or
property on which the UST or UST system is located, for the purpose of securing
a loan or other obligation.
(2)
"Primarily to protect a security interest", as used in this subchapter, does
not include indicia of ownership held primarily for investment purposes, nor
ownership indicia held primarily for purposes other than as protection for a
security interest. A holder may have other, secondary reasons for maintaining
indicia of ownership, but the primary reason why any ownership indicia are held
must be as protection for a security interest.
(g) "Operation" means, for purposes of this
subchapter, the use, storage, filling, or dispensing of petroleum contained in
an UST or UST system.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
(a) UST technical standards, as used in this subchapter, refers to the UST preventative and operating requirements under subchapters 2, 3, 4, 7, and 10 and section 11-280.1-50.
(b) Petroleum production , refining, and marketing.
(1) "Petroleum production " means the production of crude oil or other forms of petroleum (as defined in section 11-280.1-12) as well as the production of petroleum products from purchased materials.
(2) "Petroleum refining" means the cracking, distillation, separation, conversion, upgrading, and finishing of refined petroleum or petroleum products.
(3) "Petroleum marketing" means the distribution, transfer, or sale of petroleum or petroleum products for wholesale or retail purposes.
(c) "Indicia of ownership" means evidence of a secured interest, evidence of an interest in a security interest, or evidence of an interest in real or personal property securing a loan or other obligation, including any legal or equitable title or deed to real or personal property acquired through or incident to foreclosure. Evidence of such interests include, but are not limited to, mortgages, deeds of trust, liens, surety bonds and guarantees of obligations, title held pursuant to a lease financing transaction in which the lessor does not select initially the leased property (hereinafter "lease financing transaction"), and legal or equitable title obtained pursuant to foreclosure. Evidence of such interests also includes assignments, pledges, or other rights to or other forms of encumbrance against property that are held primarily to protect a security interest. A person is not required to hold title or a security interest in order to maintain indicia of ownership.
(d) A "holder " is a person who, upon the effective date of this regulation or in the future, maintains indicia of ownership (as defined in subsection (c)) primarily to protect a security interest (as defined in subsection (f)(1)) in a petroleum UST or UST system or facility or property on which a petroleum UST or UST system is located. A holder includes the initial holder (such as a loan originator); any subsequent holder (such as a successor-in-interest or subsequent purchaser of the security interest on the secondary market); a guarantor of an obligation, surety, or any other person who holds ownership indicia primarily to protect a security interest; or a receiver or other person who acts on behalf or for the benefit of a holder .
(e) A "borrower, debtor, or obligor" is a person whose UST or UST system or facility or property on which the UST or UST system is located is encumbered by a security interest. These terms may be used interchangeably.
(f) "Primarily to protect a security interest" means that the holder 's indicia of ownership are held primarily for the purpose of securing payment or performance of an obligation.
(1) "Security interest" means an interest in a petroleum UST or UST system or in the facility or property on which a petroleum UST or UST system is located, created or established for the purpose of securing a loan or other obligation. Security interests include but are not limited to mortgages, deeds of trusts, liens, and title pursuant to lease financing transactions. Security interests may also arise from transactions such as sale and leasebacks, conditional sales, installment sales, trust receipt transactions, certain assignments, factoring agreements, accounts receivable financing arrangements, and consignments, if the transaction creates or establishes an interest in an UST or UST system or in the facility or property on which the UST or UST system is located, for the purpose of securing a loan or other obligation.
(2) "Primarily to protect a security interest", as used in this subchapter, does not include indicia of ownership held primarily for investment purposes, nor ownership indicia held primarily for purposes other than as protection for a security interest. A holder may have other, secondary reasons for maintaining indicia of ownership, but the primary reason why any ownership indicia are held must be as protection for a security interest.
(g) "Operation" means, for purposes of this subchapter, the use, storage , filling, or dispensing of petroleum contained in an UST or UST system .