Hawaii Revised Statutes 304A-3002 – Board of directors; composition
The affairs of the research corporation shall be under the general management and control of the board of directors. The board of directors shall consist of eight members as follows:
Terms Used In Hawaii Revised Statutes 304A-3002
- 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.
- Ex officio: Literally, by virtue of one's office.
- university: refers to the University of Hawaii, unless otherwise required by the context. See Hawaii Revised Statutes 304A-101
All the members appointed by the governor, president of the senate, and speaker of the house of representatives shall serve for a term of four years, except that the governor may reduce the terms of those initially appointed to provide, as nearly as can be, for the expiration of an equal number of terms at intervals of one year, each term commencing on July 1 and expiring on June 30. All members of the board of directors shall serve without pay, but shall be entitled to reimbursement for necessary expenses while attending meetings and while in the discharge of duties and responsibilities.
The members of the board of directors shall elect the chairperson of the board.