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Hawaii Statutes, Title 23

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Title 23, Corporations And Partnerships

17 chapters · 767 sections in this title.

All chapters in Title 23767 Ch 414, Chapter 414196 Ch 414D, Chapter 414D174 Ch 425E, Chapter 425E110 Ch 425, Chapter 425101 Ch 415A, Chapter 415A35 Ch 421C, Chapter 421C33 Ch 421, Chapter 42126 Ch 421J, Chapter 421J24 Ch 420D, Chapter 420D13 Ch 421I, Chapter 421I13 Ch 425R, Chapter 425R13 Ch 417E, Chapter 417E11 Ch 419, Chapter 4199 Ch 421H, Chapter 421H5

13 sections·Filtered byTitle 23✕Ch 420D✕

HRS §420D-1 Purpose and findings
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[§420D-1] Purpose and findings. This chapter authorizes a designation and code of conduct for a business corporation to offer entrepreneurs and investors the option to build and invest in businesses that operate in a socially and environmentally sustainable manner. Enforcement of…
HRS §420D-10 Right of action
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[§420D-10] Right of action. The shareholders and directors of a sustainable business corporation shall have the right to bring direct or derivative claims to enforce corporate purposes and the standards for directors as set forth in section 414-221(a) and shall have the right to …
HRS §420D-11 Annual benefit report
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[§420D-11] Annual benefit report. (a) A sustainable business corporation shall deliver to each shareholder an annual benefit report including: (b) A sustainable business corporation shall post a draft of its benefit report on the public section of its website, or make it otherwis…
HRS §420D-12 Third-party standard
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[§420D-12] Third-party standard. A third-party standard for purposes of defining, reporting, and assessing overall corporate social and environmental performance of a sustainable business corporation subject to this chapter shall be:

HRS §420D-13 Ministerial role of department director

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[§420D-13] Ministerial role of department director. Section 414-16 shall apply to any filings made by a sustainable business corporation. [L 2011, c 209, pt of §1]

HRS §420D-2 Definitions

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[§420D-2] Definitions. As used in this chapter: "Benefit director" means the director designated as the benefit director of a sustainable business corporation under section 420D-7. "Benefit officer" means the individual designated as the benefit officer of a sustainable business …

HRS §420D-3 Election of a domestic corporation to become a sustainable business corporation

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[§420D-3] Election of a domestic corporation to become a sustainable business corporation. (a) A domestic corporation incorporated under chapter 414 may elect to become a sustainable business corporation under this chapter by including in its articles or amending its articles to …

HRS §420D-4 Termination of sustainable business corporation status

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[§420D-4] Termination of sustainable business corporation status. (a) A sustainable business corporation may terminate its status as such and cease to be subject to this chapter by amending its articles to delete the statement that the corporation is a sustainable business corpor…

HRS §420D-5 Corporate purposes

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[§420D-5] Corporate purposes. (a) Every sustainable business corporation shall have among its purposes the creation of a general public benefit. (b) In addition to the general public benefit purpose required by subsection (a), the articles of a sustainable business corporation ma…

HRS §420D-6 Standard of conduct for directors

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[§420D-6] Standard of conduct for directors. (a) In discharging the duties of their respective positions, the board of directors, committees of the board, and individual directors of a sustainable business corporation, in considering the best interests of the sustainable business…

HRS §420D-7 Benefit director

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[§420D-7] Benefit director. (a) The board of directors of a sustainable business corporation shall include one director who shall be designated the "benefit director" and who shall have, in addition to all of the powers, duties, rights, and immunities of the other directors of th…

HRS §420D-8 Standard of conduct for officers

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[§420D-8] Standard of conduct for officers. (a) Each officer of a sustainable business corporation shall consider the interests and factors described in section 420D-6(a) in the manner provided in that section when: (b) An officer shall not be personally liable for monetary damag…

HRS §420D-9 Benefit officer

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[§420D-9] Benefit officer. (a) A sustainable business corporation may have an officer designated as the benefit officer who shall have the authority and shall perform the duties in the management of the sustainable business corporation relating to the purpose of the corporation t…