Hawaii Revised Statutes 53-28 – Consideration for issuance of stocks and bonds
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Terms Used In Hawaii Revised Statutes 53-28
- 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.
No redevelopment corporation shall issue stock, bonds, or income debenture certificates except for money or property actually received for the use and lawful purposes of the redevelopment corporation. No stock, bonds, or income debenture certificates shall be issued for property except upon a valuation approved by the redevelopment agency and the valuation shall be used in computing actual or estimated cost.