Hawaii Revised Statutes 421C-37 – Existing cooperatives
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Terms Used In Hawaii Revised Statutes 421C-37
- Articles: means the articles of incorporation. See Hawaii Revised Statutes 421C-1
- 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.
Any domestic corporation or group operating on a cooperative basis as defined in § 421C-1 may elect by a vote of two-thirds of the members present and voting to secure the benefits of and be bound by this chapter, and shall thereupon file such papers or amend such of its articles and bylaws as are not in conformity with these provisions. A certified copy of any amended articles shall be filed with the director of commerce and consumer affairs and a fee of $25 shall be paid.