Hawaii Revised Statutes 304A-3008 – Dissolution
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Terms Used In Hawaii Revised Statutes 304A-3008
- 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.
- university: refers to the University of Hawaii, unless otherwise required by the context. See Hawaii Revised Statutes 304A-101
In the event of the dissolution of the research corporation, all of its property, real, personal, and mixed and wheresoever situated, shall vest immediately and absolutely in the university, and none of its property shall inure to the benefit of any officer, director, or member of the research corporation.