Report Title:

Relating to the Agribusiness Development Corporation.

Description:

Provides for staggered terms for the Board of Directors of the Agribusiness Development Corporation.

THE SENATE

S.B. NO.

2816

TWENTY-SECOND LEGISLATURE, 2004

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

RELATING TO THE AGRIBUSINESS DEVELOPMENT CORPORATION.

 

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

SECTION 1. Currently, the board of directors of the agribusiness development corporation does not have staggered terms. Therefore, many board members' terms expire at the same time, leaving little continuity on the board. The purpose of this Act is to provide for staggered terms for the board of directors of the agribusiness development corporation.

SECTION 2. The governor shall reduce the terms of members of the board of directors of the agribusiness development corporation for appointments made for terms commencing on July 1, 2005, so as to provide, as nearly as can be, for the expiration of an equal number of terms at intervals of one year. The terms following the reduced terms shall be four-year terms.

SECTION 3. This Act shall take effect upon its approval.

INTRODUCED BY:

_____________________________

BY REQUEST