CONFERENCE COMMITTEE REP. NO.29
Honolulu, Hawaii
, 2001
RE: S.B. No. 1079
S.D. 1
H.D. 1
C.D. 1
Honorable Robert Bunda
President of the Senate
Twenty-First State Legislature
Regular Session of 2001
State of Hawaii
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-First State Legislature
Regular Session of 2001
State of Hawaii
Sir:
Your Committee on Conference on the disagreeing vote of the Senate to the amendments proposed by the House of Representatives in S.B. No. 1079, S.D. 1, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO LIMITED LIABILITY PARTNERSHIPS,"
having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.
The purpose of this measure is to correct errors and clarify ambiguities in the limited liability partnership (LLP) law.
This measure corrects or clarifies language in provisions of the LLP law relating to partnership name, statement of qualification, cancellation of LLP status, and foreign LLPs. These amendments will provide clearer guidelines for LLPs and make Hawaii's law more consistent with uniform business laws.
Your Committee has amended this measure by:
(1) Retaining language in section 425-156, Hawaii Revised Statutes (HRS), that provides for continuation of a partnership's LLP status until canceled pursuant to section 425-14, HRS; and
(2) Correcting a spelling error.
As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of S.B. No. 1079, S.D. 1, H.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as S.B. No. 1079, S.D. 1, H.D. 1, C.D. 1.
Respectfully submitted on behalf of the managers:
|
ON THE PART OF THE HOUSE |
ON THE PART OF THE SENATE |
|
____________________________ KENNETH T. HIRAKI, Chair |
____________________________ RON MENOR, Chair |
|