TITLE 23. CORPORATIONS AND
PARTNERSHIPS
Chapter
414 Hawaii Business Corporation Act
414D Hawaii Nonprofit Corporations Act
414E Control Share Acquisitions
415 Hawaii Business Corporation Act--Repealed
415A Professional Corporation Act
415B Hawaii Nonprofit Corporation Act--Repealed
416 Corporations, Generally--Repealed
417 Consolidation and Merger of Corporations--Repealed
417E Corporate Take-Overs
418 Foreign Corporations--Repealed
419 Corporations Sole for Ecclesiastical Purposes
420 Business Development Corporations--Repealed
421 Agricultural Cooperative Associations
421C Consumer Cooperative Associations
421G Limited-Equity Housing Cooperatives--Repealed
421H Limited-Equity Housing Cooperatives
421I Cooperative Housing Corporations
421J Planned Community Associations
422 Fish Marketing Associations--Repealed
423 Dental Service Corporations
424 Optometric Service Corporations
425 Partnerships
425D Uniform Limited Partnership Act--Repealed
425E Uniform Limited Partnership Act
CHAPTER 414
HAWAII BUSINESS CORPORATION ACT
Part I. General Provisions
Section
414-1 Short title
414-2 Reservation of power to amend or repeal
414-3 Definitions
414-4 Notice
414-5 Number of shareholders
414-6 Department director; powers
Part II. Filing Documents
414-11 Filing requirements
414-12 Forms
414-13 Filing, service, and copying fees
414-14 Effective time and date of document
414-15 Correcting filed document
414-16 Filing duty of department director
414-17 Appeal from department director's refusal to file
document
414-18 Evidentiary effect of copy of filed document
414-19 Certificates and certified copies to be received in
evidence
414-20 Penalty for signing false document
Part III. Incorporation
414-31 Incorporators
414-32 Articles of incorporation
414-33 Incorporation
414-34 Liability for pre-incorporation transactions
414-35 Organization of corporation
414-36 Bylaws
414-37 Emergency bylaws
Part IV. Purposes and Powers
414-41 Purposes
414-42 General powers
414-43 Emergency powers
414-44 Ultra vires
Part V. Name
414-51 Corporate name
414-52 Reserved name
414-53 Administrative order of abatement for infringement of
corporate name
Part VI. Office and Agent
414-61 Registered office and registered agent
414-62 Designation or change of registered office or
registered agent
414-63 Resignation of registered agent
414-64 Service on corporation
Part VII. Shares and Distributions
A. Shares
414-71 Authorized shares
414-72 Terms of class or series determined by board of
directors
414-73 Issued and outstanding shares
414-74 Fractional shares
B. Issuance of Shares
414-81 Subscription for shares before incorporation
414-82 Issuance of shares
414-83 Liability of shareholders
414-84 Share dividends
414-85 Share options
414-86 Form and content of certificates
414-87 Shares without certificates
414-88 Restriction on transfer of shares and other securities
414-89 Expense of issue
C. Subsequent Acquisition of Shares by Shareholders and
Corporation
414-101 Shareholders' preemptive rights
414-102 Corporation's acquisition of its own shares
D. Distributions
414-111 Distributions to shareholders
Part VIII. Shareholders
A. Meetings
414-121 Annual meeting
414-122 Special meeting
414-123 Court-ordered meeting
414-124 Action without meeting
414-125 Notice of meeting
414-126 Waiver of notice
414-127 Record date
B. Voting
414-141 Shareholders' list for meeting
414-142 Voting entitlement of shares
414-143 Proxies
414-144 Shares held by nominees
414-145 Corporation's acceptance of votes, etc.
414-146 Quorum and voting requirements for voting groups
414-147 Action by single and multiple voting groups
414-148 Greater quorum or voting requirements
414-149 Voting for directors; cumulative voting
C. Voting Trusts and Agreements
414-161 Voting trusts
414-162 Voting agreements
414-163 Shareholder agreements
D. Derivative Proceedings
414-171 Definitions
414-172 Standing
414-173 Demand
414-174 Stay of proceedings
414-175 Dismissal
414-176 Discontinuance or settlement
414-177 Payment of expenses
414-178 Applicability to foreign corporations
Part IX. Directors and Officers
A. Board of Directors
414-191 Requirement for and duties of board of directors
414-192 Qualifications of directors
414-193 Number and election of directors
414-194 Election of directors by certain classes of
shareholders
414-195 Terms of directors generally
414-196 Staggered terms for directors
414-197 Resignation of directors
414-198 Removal of directors by shareholders
414-199 Removal of directors by judicial proceeding
414-200 Vacancy on board
414-201 Compensation of directors
B. Meetings and Action of the Board
414-211 Meetings
414-212 Action without meeting
414-213 Notice of meeting
414-214 Waiver of notice of meeting
414-215 Quorum and voting
414-216 Committees
C. Standards of Conduct
414-221 General standards for directors
414-222 Limitation of liability of directors; shareholder
approval required
414-223 Liability for unlawful distributions
D. Officers
414-231 Required officers
414-232 Duties of officers
414-233 Standards of conduct for officers
414-234 Resignation and removal of officers
414-235 Contract rights of officers
E. Indemnification
414-241 Definitions
414-242 Permissible indemnification
414-243 Mandatory indemnification
414-244 Advance for expenses
414-245 Court-ordered indemnification and advance for expenses
414-246 Determination and authorization of indemnification
414-247 Officers
414-248 Insurance
414-249 Variation by corporate action; application of subpart
414-250 Nonexclusivity of subpart
F. Directors' Conflicting Interest Transactions
414-261 Definitions
414-262 Judicial action
414-263 Directors' action
414-264 Shareholders' action
Part X. Conversions
414-271 Conversion into and from corporations
414-272 Articles of conversion
414-273 Repealed
414-274 Effect of conversion
Part XI. Amendment of Articles of Incorporation
and Bylaws
A. Amendment of Articles of Incorporation
414-281 Authority to amend
414-282 Amendment by board of directors
414-283 Amendment by board of directors and shareholders
414-284 Voting on amendments by voting groups
414-285 Amendment before issuance of shares
414-286 Articles of amendment
414-287 Restated or amended and restated articles of
incorporation
414-288 Amendment pursuant to reorganization
414-289 Effect of amendment
B. Amendment of Bylaws
414-301 Amendment by board of directors or shareholders
414-302 Bylaw increasing quorum or voting requirement for
shareholders
414-303 Bylaw increasing quorum or voting requirement for
directors
Part XII. Merger and Share Exchange
414-310 Definitions
414-311 Merger
414-311.6 Foreign mergers
414-312 Share exchange
414-313 Action plan
414-314 Merger of subsidiary
414-315 Articles of merger or share exchange
414-316 Effect of merger or share exchange
414-317 Repealed
414-318 Merger of subsidiary corporations
414-319 Repealed
Part XIII. Sale of Assets
414-331 Sale of assets in regular course of business and
mortgage of assets
414-332 Sale of assets other than in regular course of business
Part XIV. Dissenters' Rights
A. Right to Dissent and Obtain Payment for Shares
414-341 Definitions
414-342 Right to dissent
414-343 Dissent by nominees and beneficial owners
B. Procedure for Exercise of Dissenters' Rights
414-351 Notice of dissenters' rights
414-352 Notice of intent to demand payment
414-353 Dissenters' notice
414-354 Duty to demand payment
414-355 Share restrictions
414-356 Payment
414-357 Failure to take action
414-358 After-acquired shares
414-359 Procedure if shareholder dissatisfied with payment or
offer
C. Judicial Appraisal of Shares
414-371 Court action
414-372 Court costs and counsel fees
Part XV. Dissolution
A. Voluntary Dissolution
414-381 Dissolution by incorporators or initial directors
414-382 Dissolution by board of directors and shareholders
414-383 Articles of dissolution
414-384 Revocation of dissolution
414-385 Effect of dissolution
414-386 Known claims against dissolved corporation
414-387 Unknown claims against dissolved corporation
B. Administrative Dissolution
414-401 Grounds for administrative dissolution
414-402 Procedure for and effect of administrative dissolution
414-403 Reinstatement following administrative dissolution
414-404 Appeal from denial of reinstatement
C. Judicial Dissolution
414-411 Grounds for judicial dissolution
414-412 Procedure for judicial dissolution
414-413 Receivership or custodianship
414-414 Decree of dissolution
414-415 Election to purchase in lieu of dissolution
D. Miscellaneous
414-421 Deposit with director of finance
414-422 Trustees or receivers for dissolved corporations;
appointment; powers; duties
Part XVI. Foreign Corporations
A. Certificate of Authority
414-431 Authority to transact business required
414-432 Consequences of transacting business without authority
414-433 Application for certificate of authority
414-434 Change of name by foreign corporation
414-435 Effect of certificate of authority
414-436 Corporate name of foreign corporation
414-437 Registered office and registered agent of foreign
corporation
414-438 Change of registered office or registered agent of
foreign corporation
414-439 Resignation of registered agent of foreign corporation
414-440 Service on foreign corporation
414-441 Application to corporations heretofore authorized to
transact business in this State
B. Withdrawal
414-451 Withdrawal of foreign corporation
C. Revocation of Certificate of Authority
414-461 Grounds for revocation
414-462 Procedure for and effect of revocation
414-463 Appeal from revocation
Part XVII. Records and Reports
A. Records
414-470 Books and records
B. Reports
414-472 Annual report
414-473 Penalties imposed upon corporations
Part XVIII. Transition Provisions
414-481 Application to existing domestic corporations
414-482 Application to qualified foreign corporations
414-483 Savings provision
414-484 Severability
Note
Chapter heading amended by L 2001, c 129, §2.
DERIVATION TABLE OF CHAPTER 414 FROM
MODEL BUSINESS CORPORATION ACT
MBCA
HRS (3rd edition)
414-1 1.01
414-2 1.02
414-3 1.40
414-4 1.41
414-5 1.42
414-6
414-11 1.20
414-12 1.21
414-13
414-14 1.23
414-15 1.24
414-16 1.25
414-17 1.26
414-18 1.27
414-19
414-20
414-31 2.01
414-32 2.02
414-33 2.03
414-34 2.04
414-35 2.05
414-36 2.06
414-37 2.07
414-41 3.01
414-42 3.02
414-43 3.03
414-44 3.04
414-51 4.01
414-52 4.02
414-53
414-61 5.01
414-62 5.02
414-63 5.03
414-64
414-71 6.01
414-72 6.02
414-73 6.03
414-74 6.04
414-81 6.20
414-82 6.21
414-83 6.22
414-84 6.23
414-85 6.24
414-86 6.25
414-87 6.26
414-88 6.27
414-89 6.28
414-101 6.30
414-102 6.31
414-111 6.40
414-121 7.01
414-122 7.02
414-123 7.03
414-124 7.04
414-125 7.05
414-126 7.06
414-127 7.07
414-141 7.20
414-142 7.21
414-143 7.22
414-144 7.23
414-145 7.24
414-146 7.25
414-147 7.26
414-148 7.27
414-149 7.28
414-161 7.30
414-162 7.31
414-163 7.32
414-171 7.40
414-172 7.41
414-173 7.42
414-174 7.43
414-175 7.44
414-176 7.45
414-177 7.46
414-178 7.47
414-191 8.01
414-192 8.02
414-193 8.03
414-194 8.04
414-195 8.05
414-196 8.06
414-197 8.07
414-198 8.08
414-199 8.09
414-200 8.10
414-201 8.11
414-211 8.20
414-212 8.21
414-213 8.22
414-214 8.23
414-215 8.24
414-216 8.25
414-221 8.30
414-222
414-223 8.33
414-231 8.40
414-232 8.41
414-233 8.42
414-234 8.43
414-235 8.44
414-241 8.50
414-242 8.51
414-243 8.52
414-244 8.53
414-245 8.54
414-246 8.55
414-247 8.56
414-248 8.57
414-249 8.58
414-250
414-261 8.60
414-262 8.61
414-263 8.62
414-264 8.63
414-271
414-272
414-273
414-274
414-281 10.01
414-282 10.02
414-283 10.03
414-284 10.04
414-285 10.05
414-286 10.06
414-287 10.07
414-288 10.08
414-289 10.09
414-301 10.20
414-302 10.21
414-303 10.22
414-311 11.01
414-312 11.02
414-313 11.03
414-314 11.04
414-315 11.05
414-316 11.06
414-317 11.07
414-318
414-319
414-331 12.01
414-332 12.02
414-341 13.01
414-342 13.02
414-343 13.03
414-351 13.20
414-352 13.21
414-353 13.22
414-354 13.23
414-355 13.24
414-356 13.25
414-357 13.26
414-358 13.27
414-359 13.28
414-371 13.30
414-372 13.31
414-381 14.01
414-382 14.02
414-383 14.03
414-384 14.04
414-385 14.05
414-386 14.06
414-387 14.07
414-401 14.20
414-402 14.21
414-403 14.22
414-404 14.23
414-411 14.30
414-412 14.31
414-413 14.32
414-414 14.33
414-415 14.34
414-421 14.40
414-431 15.01
414-432 15.02
414-433 15.03
414-434
414-435 15.05
414-436 15.06
414-437 15.07
414-438 15.08
414-439 15.09
414-440 15.10
414-441
414-451 15.20
414-461 15.30
414-462 15.31
414-463 15.32
414-470
414-472 16.22
414-473
414-481 17.01
414-482 17.02
414-483 17.03
414-484 17.04