STAND. COM. REP. NO.1136

Honolulu, Hawaii

, 2001

RE: S.B. No. 1079

S.D. 1

H.D. 1

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Consumer Protection and Commerce, to which was referred S.B. No. 1079, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO LIMITED LIABILITY PARTNERSHIPS,"

begs leave to report as follows:

The purpose of this measure is to correct errors and clarify ambiguities in the Limited Liability Partnership (LLP) law.

The Business Registration Division of the Department of Commerce and Consumer Affairs testified in support of this measure.

This measure corrects or clarifies language in provisions of the LLP law relating to partnership name, statement of qualification, cancellation of LLP status, and foreign LLPs. These amendments will provide clearer guidelines for LLPs and make Hawaii's law more consistent with other state laws modeled on the National Conference of Commissioners on Uniform State Laws Uniform Partnership Act.

Your Committee has amended this bill by making technical, nonsubstantive amendments for purposes of clarity, style, and consistency.

 

As affirmed by the record of votes of the members of your Committee on Consumer Protection and Commerce that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 1079, S.D. 1, as amended herein, and recommends that it pass Second Reading in the form attached hereto as S.B. No. 1079, S.D. 1, H.D. 1, and be placed on the calendar for Third Reading.

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

____________________________

KENNETH T. HIRAKI, Chair