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415 Hawaii Business Corporation Act--Repealed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415B Hawaii Nonprofit Corporation Act--Repealed
416 Corporations, Generally--Repealed
417 Consolidation and Merger of Corporations--Repealed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418 Foreign Corporations--Repealed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420 Business Development Corporations--Repealed
420D Sustainable Business Corporations
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421G Limited-Equity Housing Cooperatives--Repealed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422 Fish Marketing Associations--Repealed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425D Uniform Limited Partnership Act--Repealed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
425R Registered Agents 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 agent
414-62 Designation or change of 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
and effect of expiration
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 agent of foreign corporation
414-438 Change of 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.
Cross References
Sustainable business corporations, see chapter 420D.
Law Journals and Reviews
The "Aloha Corporation:" Infusing the Culture of Hawai‘i to Broaden the Perspective of Business and Return to Community. 34 UH L. Rev. 221 (2012).
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