STAND. COM. REP. NO. 1717

                                 Honolulu, Hawaii
                                                   , 1999

                                 RE: S.B. No. 1140
                                     S.D. 2
                                     H.D. 2




Honorable Calvin K.Y. Say
Speaker, House of Representatives
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Finance, to which was referred S.B. No.
1140, S.D. 2, H.D. 1, entitled: 

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

begs leave to report as follows:

     The purpose of this bill is to simplify the business
registration process in the State by:

     (1)  Clarifying and updating the statutes governing business
          registration under the Hawaii Business Corporation and
          the Hawaii Nonprofit Corporation Acts;

     (2)  Requiring each corporation to have a registered office
          and registered agent in the State; and

     (3)  Allowing domestic nonprofit corporation to amend and
          restate its articles of incorporation at any time by
          complying with procedures and requirements under
          section 415B-37 and 415B-40, Hawaii Revised Statutes.

     The Department of Commerce and Consumer Affairs testified in
support of this measure.

     Your Committee has amended this measure by making technical,
nonsubstantive amendments for clarity and style.


 
 
 
                                 STAND. COM. REP. NO. 1717
                                 Page 2

 
     As affirmed by the record of votes of the members of your
Committee on Finance that is attached to this report, your
Committee is in accord with the intent and purpose of S.B. No.
1140, S.D. 2, H.D. 1, as amended herein, and recommends that it
pass Third Reading in the form attached hereto as S.B. No. 1140,
S.D. 2, H.D. 2.

                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Finance,



                                   ______________________________
                                   DWIGHT Y. TAKAMINE, Chair