STAND. COM. REP. NO. 1499

Honolulu, Hawaii

, 2001

RE: H.B. No. 603

H.D. 2

S.D. 1

 

 

Honorable Robert Bunda

President of the Senate

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Commerce, Consumer Protection and Housing, to which was referred H.B. No. 603, H.D. 2, entitled:

"A BILL FOR AN ACT RELATING TO LIMITED LIABILITY PARTNERSHIPS,"

begs leave to report as follows:

The purpose of this measure is to make housekeeping and other amendments to limited liability partnership statutory provisions to provide clarification and consistency and to streamline regulation.

Testimony in support of this measure was received from the Commissioner of Securities.

Your Committee finds that this measure will clarify and correct ambiguities in Hawaii's limited liability partnership law, in order to conform as closely as possible to uniform laws.

Your Committee has amended this measure by replacing its contents with those of S.B. No. 1079, S.D. 1. The differences are of a technical, nonsubstantive nature, including formatting and style.

As affirmed by the record of votes of the members of your Committee on Commerce, Consumer Protection and Housing that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 603, H.D. 2, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 603, H.D. 2, S.D. 1, and be placed on the calendar for Third Reading.

Respectfully submitted on behalf of the members of the Committee on Commerce, Consumer Protection and Housing,

____________________________

RON MENOR, Chair