STAND. COM. REP. NO.739
Honolulu, Hawaii
, 2001
RE: H.B. No. 532
H.D. 2
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-First State Legislature
Regular Session of 2001
State of Hawaii
Sir:
Your Committee on Finance, to which was referred H.B. No. 532, H.D. 1, entitled:
"A BILL FOR AN ACT A BILL FOR AN ACT RELATING TO THE PREVENTION OF THE FILING OF FRIVOLOUS FINANCING STATEMENTS,"
begs leave to report as follows:
The purpose of this bill is to enable the Bureau of Conveyances (Bureau) to prevent the filing of frivolous financing statements by:
(1) Allowing the Bureau to reject documents that are not authorized by the debtors; and
(2) Requiring that initial financing statements must be authenticated by the debtor.
The Attorney General and the Department of Land and Natural Resources submitted testimony in support of this bill. The Hawaii Commission on Uniform State Laws submitted testimony in opposition to this bill.
Your Committee has amended this bill by making technical, nonsubstantive changes for purposes of style and clarity.
As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 532, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 532, H.D. 2.
Respectfully submitted on behalf of the members of the Committee on Finance,
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____________________________ DWIGHT Y. TAKAMINE, Chair |
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