STAND. COM. REP. NO. 640

 

Honolulu, Hawaii

                  

 

RE:    S.B. No. 301

       S.D. 2

 

 

 

Honorable Colleen Hanabusa

President of the Senate

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

 

Madam:

 

     Your Committee on Ways and Means, to which was referred S.B. No. 301, S.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO THE HAWAII REGISTERED AGENTS ACT,"

 

begs leave to report as follows:

 

     The purpose of this measure is to standardize requirements relating to registered agents of business entities by adopting the Model Registered Agents Act.

 

     Your Committee received three written comments on this measure.  The written comments may be reviewed on the Legislature's website.

 

     Your Committee finds that every domestic or foreign entity registered to do business in the State is required to have a registered agent who is located in the State to accept service of process. In many cases, the agent is a company that acts as the registered agent for many other entities in the State.  This measure will create a registry of commercial agents, so that if there are any changes in the name, address, or other information of the commercial agent, the change need only be noted in the registration for the commercial agent and not in the registration for each of the entities whom the commercial agent represents.  Your Committee finds that eight other states have adopted this model act and believes that this measure will save both the registrants and the Business Registration Division of the Department of Commerce and Consumer Affairs significant amounts of time and cost when a business changes its commercial agents.

 

     Your Committee has amended this measure by making technical nonsubstantive amendments for the purposes of clarity and style.

 

     As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 301, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 301, S.D. 2.

 

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

 

 

 

____________________________

DONNA MERCADO KIM, Chair