STAND. COM. REP. NO.773-02

Honolulu, Hawaii

, 2002

RE: S.B. No. 2729

S.D. 2

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2002

State of Hawaii

Sir:

Your Committees on Consumer Protection and Commerce and Judiciary and Hawaiian Affairs, to which was referred S.B. No. 2729, S.D. 2, entitled:

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

beg leave to report as follows:

The purpose of this measure is to correct references to the business corporation and nonprofit corporation laws in the Hawaii Revised Statutes (HRS).

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

Your Committees find that efforts to modernize Hawaii's business registration laws have resulted in the enactment of new Business Corporation and Nonprofit Corporation Acts (chapters 414 and 414D, HRS, respectively). The former became effective on July 1, 2001, and the latter will take effect on July 1, 2002. This measure replaces references to chapters 415 and 415B, the old Business Corporation and Nonprofit Corporation Acts, with correct references to the new Acts.

Your Committees further find that this bill clarifies that business entity fees may be adjusted without rulemaking and subject to the Governor's approval.

As affirmed by the records of votes of the members of your Committees on Consumer Protection and Commerce and Judiciary and Hawaiian Affairs that are attached to this report, your Committees are in accord with the intent and purpose of S.B. No. 2729, S.D. 2, and recommend that it pass Second Reading and be referred to the Committee on Finance.

 

Respectfully submitted on behalf of the members of the Committees on Consumer Protection and Commerce and Judiciary and Hawaiian Affairs,

 

____________________________

ERIC G. HAMAKAWA, Chair

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KENNETH T. HIRAKI, Chair