423-1  Dental service corporation, formation.  A nonprofit dental service corporation may be formed for the purposes of contracting with individuals and corporations, both public and private, for defraying or assuming the costs of services of dentists and dental surgeons, and the contracting on behalf of dentists and dental surgeons to furnish such services.  The director of commerce and consumer affairs shall grant to applicants who file articles of incorporation in conformity with section 414D-32 a charter of incorporation for the establishment and conduct of a dental service corporation; provided that the corporation may not engage directly or indirectly in the performance of the corporate purposes or objects unless all of the following requirements are met:

Terms Used In Hawaii Revised Statutes 423-1

  • 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.

     (1)  At least fifty licensed dentists and dental surgeons in this State have become members of the corporation;

     (2)  Membership in the corporation and an opportunity to render professional services upon a uniform basis are available to all licensed dentists and dental surgeons in this State;

     (3)  Voting by proxy and cumulative voting are prohibited; and

     (4)  A certificate of compliance with the requirements of paragraphs (1), (2), and (3) has been issued to the corporation by the board of dentistry.

     Any charter granted or corporation created under authority of this section shall be subject to all general laws enacted in regard to nonprofit corporations.