(a) If, after a hearing, the court determines that one or more grounds for judicial dissolution described in § 414D-252 exist, it may enter a decree dissolving the corporation and specifying the effective date of the dissolution, and the clerk of the court shall deliver a certified copy of the decree to the department director, who shall file it.
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Terms Used In Hawaii Revised Statutes 414D-255

  • 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
  • Deliver: includes mail. See Hawaii Revised Statutes 414D-14
  • Department: means the department of commerce and consumer affairs, unless the context otherwise requires. See Hawaii Revised Statutes 414D-14
(b) After entering the decree of dissolution, the court shall direct the winding up and liquidation of the corporation‘s affairs in accordance with § 414D-245 and the notification of its claimants in accordance with §§ 414D-246 and 414D-247.

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