§414D-232 - Authorized distributions. - Hawaii Statutes

     §414D-232  Authorized distributions.  (a)  A corporation may purchase its memberships if, after the purchase is completed:

     (1)  The corporation would be able to pay its debts as they become due in the usual course of its activities; and

     (2)  The corporation's total assets would at least equal the sum of its total liabilities.

     (b)  Corporations may make distributions upon dissolution in conformity with part XIII. [L 2001, c 105, pt of §1; am L 2002, c 130, §58]