(a) The meetings of the board shall be open to the public as provided in § 92-3, except that when it is necessary for the board to receive information that is proprietary to a particular enterprise that seeks entry into or use of one of its facilities or the disclosure of which might be harmful to the business interests of the enterprise, the board may enter into an executive meeting that is closed to the public.

Terms Used In Hawaii Revised Statutes 206M-2.5

  • Board: means the board of directors of the development corporation established in section 206M-2, and any successor thereto. See Hawaii Revised Statutes 206M-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.
  • Enterprise: means a person with a place of business in Hawaii which is, or proposes to be, engaged in business in Hawaii; provided that the endeavor shall not be devoted to the sale of goods at retail, construction of housing, or tourism- related services. See Hawaii Revised Statutes 206M-1
(b) The board shall be subject to the procedural requirements of § 92-4, and this authorization shall be an addition to the exceptions listed in § 92-5, to enable the development corporation to respect the proprietary requirements of enterprises with which it has business dealings.
(c) The board shall be exempt from section 26-35(a)(4) and (5).

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