STAND. COM. REP. NO.  340

Honolulu, Hawaii

                , 2007

RE:   H.B. No. 1307

      H.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2007

State of Hawaii

Sir:

     Your Committee on Economic Development & Business Concerns, to which was referred H.B. No. 1307 entitled:

"A BILL FOR AN ACT RELATING TO BUSINESS REGISTRATION,"

begs leave to report as follows:

     The purpose of this bill is to streamline the business registration requirements for foreign nonprofit corporations and foreign limited liability companies.

More specifically, the bill eliminates confusion in business registration requirements for certain foreign businesses by clarifying that a business registration application requires the:

(1)  Mailing address of the corporation's principal office in Hawaii;

(2)  Street address of its registered office in Hawaii; and

(3)  Name of its registered agent at its registered office in Hawaii.

     The Department of Commerce and Consumer Affairs submitted testimony in support of this bill.

     Your Committee finds that this measure makes statutory amendments to conform with Act 235, Session Laws of Hawaii 2006, by clarifying that a foreign entity must include information on its current principal office, registered agent, and registered office in this State rather than the "initial" principal office, registered agent, and registered office on its business registration application.  This measure establishes uniform business registration requirements for all business entities, whether foreign or domestic.

     Your Committee has amended the bill by changing the effective date to July 1, 2034, to facilitate further discussion on this measure.

     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 H.B. No. 1307, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1307, H.D. 1, and be referred to the Committee on Consumer Protection & Commerce.

Respectfully submitted on behalf of the members of the Committee on Economic Development & Business Concerns,

____________________________

KYLE T. YAMASHITA, Chair