§186-1 Definitions. When used herein: "Board" means the board of land and natural resources. "Department" means the department of land and natural resources. "Owner" shall include any person leasing the real property of another under a lease having a stated term of not less than thirty years. "Stumpage value" means the value that a willing buyer will pay to a willing seller per thousand board feet for trees standing and uncut. This value shall not include logging costs. [L 1963, c 141, §2; Supp, §87D-2; HRS §186-1]
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