STAND. COM. REP. NO. 683-12
Honolulu, Hawaii
, 2012
RE: H.B. No. 2658
H.D. 1
Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twenty-Sixth State Legislature
Regular Session of 2012
State of Hawaii
Sir:
Your Committee on Economic Revitalization & Business, to which was referred H.B. No. 2658 entitled:
"A BILL FOR AN ACT RELATING TO CORPORATIONS,"
begs leave to report as follows:
Your Committee has amended this measure by:
(1) Extending the lower shareholder voting requirements to approve a plan of merger or share exchange to a corporation incorporated before July 1, 1987, if:
(A) The plan is a merger plan of a publicly traded parent corporation with or into a subsidiary corporation; and
(B) All the shares of the subsidiary are owned by the parent corporation;
(2) Adding a definition for publicly traded corporation; and
(3) Making technical, nonsubstantive amendments for the purposes of clarity, consistency, and style.
As affirmed by the record of votes of the members of your Committee on Economic Revitalization & Business that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2658, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2658, H.D. 1, and be placed on the calendar for Third Reading.
Respectfully submitted on behalf of the members of the Committee on Economic Revitalization & Business,
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____________________________ ANGUS L.K. McKELVEY, Chair |
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