STAND. COM. REP. NO. 727
Honolulu, Hawaii
S.D. 2
President of the Senate
Twenty-Third State Legislature
State of Hawaii
Sir:
Your Committee on Judiciary and Hawaiian Affairs, to which was referred S.B. No. 744, S.D. 1, entitled:
begs leave to report as follows:
The purpose of this measure is to clarify ambiguities and correct errors in the State's business registration laws.
Specifically, this measure:
(1) Enacts a provision establishing personal liability and penalty provisions for general partners by making them liable for all debts and liabilities of the limited partnership;
(2) Clarifies that service of process may be effectuated by certified or registered mail if a named agent for service of process is not found within the State; and
(3) Conforms requirements relating to administrative cancellation and reinstatement.
Testimony in support of the measure was submitted by the Commissioner of Securities and one individual.
This is a housekeeping measure that clarifies ambiguities and corrects errors in the State's business registration laws. Your Committee finds that this measure will facilitate the operations of businesses located in the State.
Your Committee has amended this measure by modifying the personal liability provisions relating to general partners by making a general partner severally liable in the amount of $25 per month for failing to comply with the provisions of Hawaii's business registration laws.
As affirmed by the record of votes of the members of your Committee on Judiciary and Hawaiian Affairs that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 744, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 744, S.D. 2.
Respectfully submitted on behalf of the members of the Committee on Judiciary and Hawaiian Affairs,
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COLLEEN HANABUSA, Chair |
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