Hawaii Revised Statutes 432C-6 – For-profit entity; after conversion
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Terms Used In Hawaii Revised Statutes 432C-6
- Conversion: means the transfer or sale of a significant amount of a nonprofit entity's assets to a for-profit entity or through any other means as determined by the commissioner. See Hawaii Revised Statutes 432C-1
- For-profit entity: means a corporation organized under chapter 414, including a stock insurance company. See Hawaii Revised Statutes 432C-1
After conversion, the for-profit entity shall not be subject to this chapter, but if a stock insurance company, shall be in conformance with title 24.