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2010 Hawaii Code
DIVISION 2. BUSINESS
TITLE 23. CORPORATIONS AND PARTNERSHIPS
414. Hawaii Business Corporation Act
§414-357 Failure to take action.


HI Rev Stat § 414-357 (2010 through Reg Sess) What's This?

[§414-357] Failure to take action. (a) If the corporation does not take the proposed action within sixty days after the date set for demanding payment and depositing share certificates, the corporation shall return the deposited certificates and release the transfer restrictions imposed on uncertificated shares.

(b) If after returning deposited certificates and releasing transfer restrictions, the corporation takes the proposed action, it must send a new dissenters' notice under section 414-353 and repeat the payment demand procedure. [L 2000, c 244, pt of §1]

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