STAND. COM. REP. NO. 1039
Honolulu, Hawaii
, 2005
RE: S.B. No. 744
S.D. 2
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-Third State Legislature
Regular Session of 2005
State of Hawaii
Sir:
Your Committee on Economic Development & Business Concerns, to which was referred S.B. No. 744, 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 modernize and increase the effectiveness of the State's business registration laws by clarifying certain provisions to:
(1) Establish personal liability and penalty provisions for general partners by making them liable for all debts and liabilities of the limited partnership;
(2) Specify details of a statement that must be submitted with articles of merger;
(3) Amend the definition of "individual" to limit it to a natural person;
(4) Make conforming requirements relating to administrative cancellation and reinstatement; and
(5) Make other technical amendments for clarity, conformity, and style.
The Business Registration Division of the Department of Commerce and Consumer Affairs testified in support of this bill.
As affirmed by the record of votes of the members of your Committee on Economic Development & Business Concerns that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 744, S.D. 2, and recommends that it pass Second Reading and be referred to the Committees on Consumer Protection & Commerce and Judiciary.
Respectfully submitted on behalf of the members of the Committee on Economic Development & Business Concerns,
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____________________________ ROBERT N. HERKES, Chair |
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