STAND. COM. REP. NO. 1068

                                 Honolulu, Hawaii
                                                   , 1999

                                 RE: H.B. No. 1078
                                     H.D. 2




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Finance, to which was referred H.B. No.
1078, H.D. 1, entitled: 

     "A BILL FOR AN ACT RELATING TO BUSINESS REGISTRATION,"

begs leave to report as follows:

     The purpose of this bill is to simplify the business
registration process in the State by:

     (1)  Clarifying and updating the statutes governing business
          registration under the Hawaii Business Corporation and
          the Hawaii Nonprofit Corporation Acts;

     (2)  Requiring each corporation to have a registered office
          and registered agent in the State; and

     (3)  Allowing domestic corporations to amend and restate
          their articles of incorporation at any time by
          complying with procedures and requirements under
          sections 415B-37 and 415B-40, Hawaii Revised Statutes.

     The Business Registration Division of the Department of
Commerce and Consumer Affairs testified in support of this
measure.

     Your Committee has amended this bill by:

     (1)  Eliminating certain signature requirements related to
          mergers; and

 
 
                                 STAND. COM. REP. NO. 1068
                                 Page 2

 

     (2)  Making technical, nonsubstantive amendments for style
          and clarity.

     As affirmed by the record of votes of the members of your
Committee on Finance that is attached to this report, your
Committee is in accord with the intent and purpose of H.B. No.
1078, H.D. 1, as amended herein, and recommends that it pass
Third Reading in the form attached hereto as H.B. No. 1078, H.D.
2.

                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Finance,



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair