Hawaii 2024 Regular Session

Hawaii House Bill HB1942 Compare Versions

Version 1 (Old)

Version 2 (New)

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1		-	HOUSE OF REPRESENTATIVES H.B. NO. 1942 THIRTY-SECOND LEGISLATURE, 2024 ~~H.D. 1~~ STATE OF HAWAII A BILL FOR AN ACT RELATING TO CORPORATIONS. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
	1	+	HOUSE OF REPRESENTATIVES H.B. NO. 1942 THIRTY-SECOND LEGISLATURE, 2024 STATE OF HAWAII A BILL FOR AN ACT relating to corporations. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
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3	3		HOUSE OF REPRESENTATIVES H.B. NO. 1942
4		-	THIRTY-SECOND LEGISLATURE, 2024 ~~H.D. 1~~
	4	+	THIRTY-SECOND LEGISLATURE, 2024
5	5		STATE OF HAWAII
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7	7		HOUSE OF REPRESENTATIVES
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9	9		H.B. NO.
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11	11		1942
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13	13		THIRTY-SECOND LEGISLATURE, 2024
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15		-	~~H.D. 1~~
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17	17		STATE OF HAWAII
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31	31		A BILL FOR AN ACT
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37	37		relating to corporations.
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43	43		BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
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47		-	SECTION 1. Chapter 414, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows: "§414- Real property; dissolved corporations; escheatment to State. (a) ~~Upon approval of the board of land and natural resources,~~ real property assets of a dissolved corporation not transferred to a creditor, claimant, or shareholder of the corporation shall escheat to the State if: (1) Real property taxes assessed by county real property tax ordinance against the land and any improvements thereon have been unpaid for five years; (2) Any state tax liens, if the same are recorded in the bureau of conveyances as provided by section 231-33, have been unpaid for five years; and (3) The State shows that reasonable efforts were made by the State to locate a creditor, claimant, or shareholder of the dissolved corporation, and have been unsuccessful. (b) In all cases where real property of a dissolved corporation escheats to the State pursuant to subsection (a), the attorney general shall proceed in accordance with section 665-1." SECTION 2. Chapter 414D, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows: "§414D- Real property; dissolved corporations; escheatment to State. (a) ~~Upon approval of the board of land and natural resources,~~ real property assets of a dissolved corporation not transferred to a creditor, claimant, or shareholder of the corporation shall escheat to the State if: (1) Real property taxes assessed by county real property tax ordinance against the land and any improvements thereon have been unpaid for five years; (2) Any state tax liens, if the same are recorded in the bureau of conveyances as provided by section 231-33, have been unpaid for five years; and (3) The State shows that reasonable efforts were made by the State to locate a creditor, claimant, or shareholder of the dissolved corporation, and have been unsuccessful. (b) In all cases where real property of a dissolved corporation escheats to the State pursuant to subsection (a), the attorney general shall proceed in accordance with section 665-1." SECTION 3. New statutory material is underscored. SECTION 4. This Act shall take effect ~~on July 1, 3000~~.
	47	+	SECTION 1. Chapter 414, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows: "§414- Real property; dissolved corporations; escheatment to State. (a) Real property assets of a dissolved corporation not transferred to a creditor, claimant, or shareholder of the corporation shall escheat to the State if: (1) Real property taxes assessed by county real property tax ordinance against the land and any improvements thereon have been unpaid for five years; (2) Any state tax liens, if the same are recorded in the bureau of conveyances as provided by section 231-33, have been unpaid for five years; and (3) The State shows that reasonable efforts were made by the State to locate a creditor, claimant, or shareholder of the dissolved corporation, and have been unsuccessful. (b) In all cases where real property of a dissolved corporation escheats to the State pursuant to subsection (a), the attorney general shall proceed in accordance with section 665-1." SECTION 2. Chapter 414D, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows: "§414D- Real property; dissolved corporations; escheatment to State. (a) Real property assets of a dissolved corporation not transferred to a creditor, claimant, or shareholder of the corporation shall escheat to the State if: (1) Real property taxes assessed by county real property tax ordinance against the land and any improvements thereon have been unpaid for five years; (2) Any state tax liens, if the same are recorded in the bureau of conveyances as provided by section 231-33, have been unpaid for five years; and (3) The State shows that reasonable efforts were made by the State to locate a creditor, claimant, or shareholder of the dissolved corporation, and have been unsuccessful. (b) In all cases where real property of a dissolved corporation escheats to the State pursuant to subsection (a), the attorney general shall proceed in accordance with section 665-1." SECTION 3. New statutory material is underscored. SECTION 4. This Act shall take effect upon its approval. INTRODUCED BY: _____________________________
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49	49		SECTION 1. Chapter 414, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
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51		-	"§414- Real property; dissolved corporations; escheatment to State. (a) ~~Upon approval of the board of land and natural resources,~~ real property assets of a dissolved corporation not transferred to a creditor, claimant, or shareholder of the corporation shall escheat to the State if:
	51	+	"§414- Real property; dissolved corporations; escheatment to State. (a) Real property assets of a dissolved corporation not transferred to a creditor, claimant, or shareholder of the corporation shall escheat to the State if:
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53	53		(1) Real property taxes assessed by county real property tax ordinance against the land and any improvements thereon have been unpaid for five years;
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55	55		(2) Any state tax liens, if the same are recorded in the bureau of conveyances as provided by section 231-33, have been unpaid for five years; and
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57	57		(3) The State shows that reasonable efforts were made by the State to locate a creditor, claimant, or shareholder of the dissolved corporation, and have been unsuccessful.
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59	59		(b) In all cases where real property of a dissolved corporation escheats to the State pursuant to subsection (a), the attorney general shall proceed in accordance with section 665-1."
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61	61		SECTION 2. Chapter 414D, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
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63		-	"§414D- Real property; dissolved corporations; escheatment to State. (a) ~~Upon approval of the board of land and natural resources,~~ real property assets of a dissolved corporation not transferred to a creditor, claimant, or shareholder of the corporation shall escheat to the State if:
	63	+	"§414D- Real property; dissolved corporations; escheatment to State. (a) Real property assets of a dissolved corporation not transferred to a creditor, claimant, or shareholder of the corporation shall escheat to the State if:
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65	65		(1) Real property taxes assessed by county real property tax ordinance against the land and any improvements thereon have been unpaid for five years;
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67	67		(2) Any state tax liens, if the same are recorded in the bureau of conveyances as provided by section 231-33, have been unpaid for five years; and
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69	69		(3) The State shows that reasonable efforts were made by the State to locate a creditor, claimant, or shareholder of the dissolved corporation, and have been unsuccessful.
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71	71		(b) In all cases where real property of a dissolved corporation escheats to the State pursuant to subsection (a), the attorney general shall proceed in accordance with section 665-1."
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73	73		SECTION 3. New statutory material is underscored.
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75		-	SECTION 4. This Act shall take effect ~~on July 1, 3000~~.
	75	+	SECTION 4. This Act shall take effect upon its approval.
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77		-	Report Title: BLNR; Real Property; Dissolved Corporations; Escheatment Description: Permits real property assets of a dissolved corporation to escheat to the State, upon approval of the Board of Land and Natural Resources, if the assets were not transferred to a creditor, claimant, or shareholder of the corporation; real property taxes and any state tax liens have remained unpaid for five years; and the State makes a showing that attempts to locate creditors, claimants, and shareholders of the dissolved corporation have been unsuccessful. Effective 7/1/3000. (HD1) The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
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	79	+	INTRODUCED BY: _____________________________
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	81	+	INTRODUCED BY:
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	83	+	_____________________________
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	89	+	Report Title: Real Property; Dissolved Corporations; Escheatment Description: Permits real property assets of a dissolved corporation to escheat to the State if a creditor, claimant, or shareholder of the corporation cannot be found; real property taxes and any state tax liens have remained unpaid for five years; and the State makes a showing that attempts to locate creditors, claimants, and shareholders of the dissolved corporation have been unsuccessful. The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
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83	95		Report Title:
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85		-	~~BLNR;~~ Real Property; Dissolved Corporations; Escheatment
	97	+	Real Property; Dissolved Corporations; Escheatment
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89	101		Description:
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91		-	Permits real property assets of a dissolved corporation to escheat to the State~~, upon approval of the Board of Land and Natural Resources,~~ if ~~the assets were not transferred to~~ a creditor, claimant, or shareholder of the corporation; real property taxes and any state tax liens have remained unpaid for five years; and the State makes a showing that attempts to locate creditors, claimants, and shareholders of the dissolved corporation have been unsuccessful. ~~Effective 7/1/3000. (HD1)~~
	103	+	Permits real property assets of a dissolved corporation to escheat to the State if a creditor, claimant, or shareholder of the corporation cannot be found; real property taxes and any state tax liens have remained unpaid for five years; and the State makes a showing that attempts to locate creditors, claimants, and shareholders of the dissolved corporation have been unsuccessful.
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99	111		The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.