Honorable Robert Bunda

President of the Senate

Twenty-Second State Legislature

Regular Session of 2003

State of Hawaii

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2003

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. 1319, S.D. 1, H.D. 3, entitled:

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 update the laws governing limited partnerships in Hawaii.

This measure repeals the Uniform Limited Partnership Act, codified in chapter 425D, Hawaii Revised Statutes, and replaces it with a modified version of the 2001 Revised Uniform Limited Partnership Act. Your Committee on Conference finds that this measure will help to improve Hawaii's business climate by modernizing the limited partnership laws and making them more consistent with the laws of the other states.

Your Committee on Conference has amended this measure by inserting an effective date of July 1, 2004, and by making technical amendments to reflect preferred drafting style.

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. 1319, S.D. 1, H.D. 3, as amended herein, and recommends that it pass Final Reading in the form attached hereto as S.B. No. 1319, S.D. 1, H.D. 3, C.D. 1.