Hawaii Revised Statutes 415A-5 – General powers
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Terms Used In Hawaii Revised Statutes 415A-5
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Professional corporation: means a domestic professional corporation for profit subject to this chapter. See Hawaii Revised Statutes 415A-2
A professional corporation shall have the powers enumerated in chapter 414, except that a professional corporation may be a promoter, general partner, member, associate, or manager only of a partnership, joint venture, trust, or other enterprise engaged only in rendering professional services or carrying on business permitted by the corporation’s articles of incorporation.