Hawaii Revised Statutes 414D-85 – Member’s liability to third parties
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Terms Used In Hawaii Revised Statutes 414D-85
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means a nonprofit corporation unless otherwise specified. See Hawaii Revised Statutes 414D-14
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Member: means (without regard to what a person is called in the articles or bylaws) any person or persons having the rights and obligations of membership pursuant to a corporation's articles of incorporation or bylaws. See Hawaii Revised Statutes 414D-14
A member of a corporation is not, as such, personally liable for the acts, debts, liabilities, or obligations of the corporation.