STAND. COM. REP. NO. 1127_______

                                 Honolulu, Hawaii
                                                   , 1999

                                 RE: S.B. No. 1140
                                     S.D. 2
                                     H.D. 1




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Economic Development and Business
Concerns, to which was referred S.B. No. 1140, S.D. 2, entitled: 

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

begs leave to report as follows:

     The purpose of this bill is to simplify the business
registration process in the State by:

     (1)  Clarifying and updating the statutes governing business
          registration under the Hawaii Business Corporation and
          the Hawaii Nonprofit Corporation Acts;

     (2)  Requiring each corporation to have a registered office
          and registered agent in the State; and

     (3)  Allowing domestic corporations to amend and restate
          their articles of incorporation at any time by
          complying with procedures and requirements under
          sections 415B-37 and 415B-40, Hawaii Revised Statutes.

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

     This bill is similar to H.B. No. 1078, H.D. 2, which passed
out of the House of Representatives earlier this session after

 
 
 
                                 STAND. COM. REP. NO. 1127_______
                                 Page 2

 
public hearings before this Committee, the Committee on Consumer
Protection and Commerce, and the Committee on Finance.

     Upon further consideration, your Committee has amended this
bill by deleting its substance, and inserting therefor, the
substance of H.B. No. 1078, H.D. 2.  Your Committee has further
amended this bill by making technical, nonsubstantive amendments
for clarity and style.

     As affirmed by the record of votes of the members of your
Committee on Economic Development and Business Concerns that is
attached to this report, your Committee is in accord with the
intent and purpose of S.B. No. 1140, S.D. 2, as amended herein,
and recommends that it pass Second Reading in the form attached
hereto as S.B. No. 1140, S.D. 2, H.D. 1, and be referred to the
Committee on Consumer Protection and Commerce.

                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Economic
                                   Development and Business
                                   Concerns,



                                   ______________________________
                                   ROBERT N. HERKES, Chair