§421-4  Articles of incorporation.  (a)  Articles of incorporation shall be certified and executed by each of the incorporators, if natural persons, and by the president and secretary of the association and shall contain the following:

     (1)  The name of the association;

     (2)  The mailing address of the association’s principal office, the street address of the association’s initial registered office, and the name of its initial registered agent at its initial registered office;

     (3)  The purposes and powers of the association;

     (4)  The proposed duration of the association;

     (5)  The names and addresses of persons who are to act as the initial directors and officers of the association;

     (6)  The names and addresses of the incorporators, and if organized with capital stock, a statement of the number of shares subscribed by each, which shall not be less than one, and the class of shares for which each subscribed;

     (7)  Whether organized with or without capital stock, and if organized with capital stock the total authorized number of shares and the par value of each share, if any; and if more than one class of stock is authorized, a description of the classes of shares, the number of shares in each class, the relative rights, preferences, and restrictions granted to or imposed upon the shares of each class, and the dividends to which each class shall be entitled; and

     (8)  If organized without capital stock, whether the property rights and interest of each member are equal or unequal, and if unequal, the rule by which the rights and interests shall be determined.

Terms Used In Hawaii Revised Statutes 421-4

  • Articles: means the articles of incorporation. See Hawaii Revised Statutes 421-1
  • Association: means any corporation organized under this chapter for the mutual benefit of its members, as agricultural producers, and which confines its operations to purposes authorized by this chapter and restricts the return on the stock or membership capital and the amount of its business with nonmembers to the limits placed thereon by this chapter for associations organized hereunder; provided that any fish marketing association organized pursuant to chapter 422 and in existence on May 7, 1991, shall be considered an association for purposes of this chapter. See Hawaii Revised Statutes 421-1
  • Member: includes the holder of a membership in an association without capital stock or the holder of common stock in [an] association organized with capital stock. See Hawaii Revised Statutes 421-1

     (b)  The articles may also contain any other provisions consistent with law for regulating the association’s business or the conduct of its affairs, the establishment of voting districts, the election of delegates to represent the districts and the members residing therein, for voting by proxy, and the issuance, retirement, and transfer of membership and stock.