Texas Lawyer Blog

Hawaii business law states that a partnership business, limited liability partnerships, corporations, limited partnerships and corporations and other Hawaiian business entities need to register and submit their reports to the DCCA or the Department of Commerce and Consumer Affairs. The registration forms are available on the website of the DCCA.

The Hawaii Business Corporation Act also oversees the operation, formation and the dissolution of the corporations in Hawaii. The Act is in compliance with the Model Business Corporation Act that is stated in Chapter 414 of the Hawaii Revised Statutes.

The organizational documents should be maintained in accordance with the Articles of Incorporation. Documents should contain details such as the name of the corporate business, the complete address of the corporation, the number of shares issued by the corporation, and the incorporator’s name and address

The board of directors is empowered to issue shares of stock for consideration that comprise of intangible and tangible property meant for the benefit of the corporation and these include promissory notes, cash, service contracts, and additional securities of the corporation.

The bylaws in the category of Hawaii business law includes the provisions for governance of the corporation and is not confined to the meetings of the directors and shareholders and the election and the power of the officers.

The Act also includes provisions for the meeting of the shareholders. They may also act after obtaining a written consent following a meeting.

Hawaii corporations are supposed to file a corporate report with the Department of Commerce and Consumer Affairs every year. These may be filed online. In case, a corporate report is not filed, it would result in the dissolution of the company. There are several trade regulations that also form a part of the business laws.

You may check a legal directory for acquiring information on terms pertaining to business law.