REPORT TITLE:
Benefit Societies


DESCRIPTION:
Clarifies applicability of nonprofit corporations law to
formation of benefit societies.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        
HOUSE OF REPRESENTATIVES                H.B. NO.13         
TWENTIETH LEGISLATURE, 1999                                
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

RELATING TO MUTUAL BENEFIT SOCIETIES.
 


BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 1      SECTION 1.  Section 432:1-201, Hawaii Revised Statutes, is
 
 2 amended to read as follows:
 
 3      "432:1-201  Incorporation by charter.  Any mutual benefit
 
 4 society may be or become incorporated by charter as provided in
 
 5 [sections 416-19 and 416-20,] chapter 415B, notwithstanding any
 
 6 limitations under the corporation law as to the purposes for
 
 7 which charters may be granted.  Any society so chartered as a
 
 8 corporation shall be subject in all respects to this article."
 
 9      SECTION 2.  Section 432:2-102, Hawaii Revised Statutes, is
 
10 amended by amending subsection (b) to read as follows:
 
11      "(b)  Nothing in this article shall exempt fraternal benefit
 
12 societies from the provisions and requirements of [sections
 
13 416-19 and 416-20.] chapter 415B."
 
14      SECTION 3.  Statutory material to be repealed is bracketed.
 
15 New statutory material is underscored.
 
16      SECTION 4.  This Act shall take effect upon its approval.
 
17 
 
18                           INTRODUCED BY:  _______________________