STAND. COM. REP. NO.807
Honolulu, Hawaii
, 2001
RE: S.B. No. 1075
S.D. 1
Honorable Robert Bunda
President of the Senate
Twenty-First State Legislature
Regular Session of 2001
State of Hawaii
Sir:
Your Committees on Commerce, Consumer Protection and Housing and Judiciary, to which was referred S.B. No. 1075 entitled:
"A BILL FOR AN ACT RELATING TO NONPROFIT CORPORATIONS,"
beg leave to report as follows:
The purpose of this measure is to conform Hawaii's nonprofit corporations law to the latest version of the Model Nonprofit Corporations Act.
The Commissioner of Securities testified in support of this measure. The Aloha Society of Association Executives testified in support of the measure, generally, but expressed concerns about some of its provisions.
This measure adopts model language consistent with the most recent version of the Model Nonprofit Corporations Act. By adopting model Act provisions uniform with the laws of the majority of the states, this measure facilitates the formation and operation of nonprofit corporations in this State.
Your Committees have amended this measure:
(1) To require that a person requesting that a list of corporation members be made available at a meeting of the members, submit the request no less than five business days prior to the scheduled date of the meeting;
(2) To require that a corporation maintain a copy of all written financial statements furnished to members for the past three years, rather than a copy of all written communications to members; and
(3) By making technical, nonsubstantive amendments for purposes of clarity, consistency, and style, and to reflect preferred drafting style.
As affirmed by the records of votes of the members of your Committees on Commerce, Consumer Protection and Housing and Judiciary that are attached to this report, your Committees are in accord with the intent and purpose of S.B. No. 1075, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 1075, S.D. 1, and be placed on the calendar for Third Reading.
Respectfully submitted on behalf of the members of the Committees on Commerce, Consumer Protection and Housing and Judiciary,
|
____________________________ BRIAN KANNO, Chair |
____________________________ RON MENOR, Chair |
|