HB2363 HD1 HSCR513-04

 

STAND. COM. REP. NO. 513-04

Honolulu, Hawaii

, 2004

RE: H.B. No. 2363

H.D. 1

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Sir:

Your Committees on Consumer Protection and Commerce and Judiciary, to which was referred H.B. No. 2363 entitled:

"A BILL FOR AN ACT RELATING TO PUBLIC BENEFIT CORPORATIONS,"

beg leave to report as follows:

The purpose of this bill is to adopt certain provisions of the Revised Model Nonprofit Corporation Act that relate to public benefit corporations, and that were not included in Act 105, Session Laws of Hawaii 2001.

Your Committees heard testimony in support of this bill from the Attorney General (AG).

Your Committees find that the provisions in this bill will give the AG clear authority to oversee and supervise approximately 3,500 public benefit corporations in Hawaii.

Your Committees have amended this bill as requested by the AG to provide that the AG may approve a transaction, before or after the fact, in which a director has a conflict of interest.

As affirmed by the records of votes of the members of your Committees on Consumer Protection and Commerce and Judiciary that are attached to this report, your Committees are in accord with the intent and purpose of H.B. No. 2363, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2363, H.D. 1, and be placed on the calendar for Third Reading.

Respectfully submitted on behalf of the members of the Committees on Consumer Protection and Commerce and Judiciary,

 

____________________________ ERIC G. HAMAKAWA, Chair		____________________________ KENNETH T. HIRAKI, Chair