(a) A record shareholder may assert dissenters’ rights as to fewer than all the shares registered in the shareholder‘s name only if the shareholder dissents with respect to all shares beneficially owned by any one person and notifies the corporation in writing of the name and address of each person on whose behalf the record shareholder asserts dissenters’ rights. The rights of a partial dissenter under this subsection are determined as if the shares as to which the partial dissenter dissents and the partial dissenter’s other shares were registered in the names of different shareholders.

Terms Used In Hawaii Revised Statutes 414-343

  • Beneficial shareholder: means the person who is a beneficial owner of shares held in a voting trust or by a nominee as the record shareholder. See Hawaii Revised Statutes 414-341
  • 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.
  • Corporation: means the issuer of the shares held by a dissenter before the corporate action, or the surviving or acquiring corporation by merger or share exchange of that issuer. See Hawaii Revised Statutes 414-341
  • Dissenter: means a shareholder who is entitled to dissent from corporate action under § 414-342 and who exercises that right when and in the manner required by sections 414-351 to 414-359. See Hawaii Revised Statutes 414-341
  • Person: includes individual and entity. See Hawaii Revised Statutes 414-3
  • Record shareholder: means the person in whose name shares are registered in the records of a corporation or the beneficial owner of shares to the extent of the rights granted by a nominee certificate on file with a corporation. See Hawaii Revised Statutes 414-341
  • Shareholder: means the record shareholder or the beneficial shareholder. See Hawaii Revised Statutes 414-341
  • Shares: means the units into which the proprietary interests in a corporation are divided. See Hawaii Revised Statutes 414-3
(b) A beneficial shareholder may assert dissenters’ rights as to shares held on the beneficial shareholder’s behalf only if:

(1) The beneficial shareholder submits to the corporation the record shareholder’s written consent to the dissent not later than the time the beneficial shareholder asserts dissenters’ rights; and
(2) The beneficial shareholder does so with respect to all shares of which the beneficial shareholder is the beneficial shareholder or over which the beneficial shareholder has power to direct the vote.
  Previous
Next  
 RIGHT TO DISSENT AND OBTAIN PAYMENT FOR SHARES Contents