Hawaii Revised Statutes 428-406 – Limitations on distributions
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Terms Used In Hawaii Revised Statutes 428-406
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Business: includes every trade, occupation, profession, and other lawful purpose, whether or not carried on for profit. See Hawaii Revised Statutes 428-101
- Distribution: means a transfer of money, property, or other benefit from a limited liability company to a member in the member's capacity as a member or to a transferee of the member's distributional interest. See Hawaii Revised Statutes 428-101
- Distributional interest: means all of a member's interest in distributions by the limited liability company. See Hawaii Revised Statutes 428-101
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Limited liability company: means a limited liability company organized under this chapter. See Hawaii Revised Statutes 428-101