§421-1 Definitions. As used in this chapter, unless the context or subject matter requires otherwise: “Agricultural products” includes floricultural, horticultural, viticultural, forestry, nut, coffee, dairy, livestock, poultry, bee, farm or plantation products, and fish and aquacultural commodities. “Articles” means the articles of incorporation. “Association” means any corporation organized under this chapter for the mutual benefit […]
§421-10 Members. (a) An association may admit as members only bona fide producers of agricultural products, including tenants and landlords receiving a share of the crop, and cooperative associations of the producers. The incorporators named in the articles are thereby made members of the association, and they shall pay for their membership or stock the […]
§421-11 Membership or stock certificates, transfers, dividends, preferred stock. (a) No certificate for membership or stock shall be issued until fully paid for, but bylaws may provide that a member may vote and hold office prior to payment in full for the member’s membership or stock. (b) Dividends in excess of eight per cent on […]
§421-12 General and special meetings; how called. Within thirty days after the incorporation of an association the members thereof shall hold an organization meeting at a time and place fixed by the temporary board of directors. Not less than ten days’ written notice thereof shall be given to each member. An association may provide in […]
§421-13 Directors. (a) The business of the association shall be managed by a board of not less than three directors; at least two-thirds of the directors shall be members of the association or officers, directors, or members of a member association. A director shall hold office for the term for which the director was named […]
§421-14 Removal of director. Any member may ask for the removal of a director by filing charges with the secretary or president of the association, together with a petition signed by five per cent of the members requesting the removal of the director in question. The removal shall be voted upon at the next meeting […]
§421-15 Officers. The board shall elect a president, a secretary, and a treasurer, and may elect one or more vice presidents, and such other officers as may be authorized in the bylaws. The president and at least one of the vice presidents must be members and directors, but a vice president who is not a […]
§421-16 Removal of officer. Any member may bring charges of misconduct or incompetency against an officer by filing them with the secretary or president of the association, together with a petition signed by ten per cent of the members requesting the removal of the officer in question. The directors shall vote upon the removal of […]
§421-17 Referendum. The articles or bylaws may provide that upon demand of two-fifths of all the directors, any matter of policy that has been approved or passed by the board must be referred to the members for their approval before it becomes effective. No referendum shall be allowed unless it is demanded by the required […]
§421-18 Contracts between association and members. (a) Period, withdrawal. The bylaws may require members to execute contracts with the association in which the members agree to patronize the facilities created by the association, and to sell all or a specified part of their products to or through it, or to buy all or a specified […]
§421-19 Misdemeanor to induce breach of marketing contract to cooperative association; spreading false reports about the management or finances thereof. Any person or any corporation whose officers or employees knowingly induce or attempt to induce any member or stockholder of an association to violate the member’s or stockholder’s marketing contract with the association, or who […]
§421-2 Purposes. An association may be organized for the purpose of engaging in any cooperative activity for producers of agricultural products in connection with: (1) Producing, assembling, marketing, buying or selling agricultural products or harvesting, preserving, drying, processing, manufacturing, blending, canning, packing, ginning, grading, storing, warehousing, handling, shipping, or utilizing the products, or manufacturing or […]
§421-20 Associations are not in restraint of trade. (a) No association complying with the terms hereof shall be deemed to be a conspiracy or a combination in restraint of trade, or an illegal monopoly; or be deemed to have been formed for the purpose of lessening competition or fixing prices arbitrarily, nor shall the contracts […]
§421-21 Voluntary dissolution. Chapter 414, relating to the voluntary dissolution of profit corporations, and chapter 414D, relating to the voluntary dissolution of nonprofit corporations, shall apply, as the case may be, to associations formed under this chapter except that the dissolution shall be approved at a meeting duly called and held for the purpose by […]
§421-21.5 REPEALED. L 1993, c 105, §2.
§421-21.6 Mergers; procedures; approval by members. (a) Pursuant to a plan of merger, any agricultural cooperative association organized under this chapter may merge with one or more domestic professional corporations, or with one or more associations, or other business entities formed or organized under the laws of this State, any state or territory of the […]
§421-22 Annual report. (a) An association formed under this chapter shall file with the director of commerce and consumer affairs an annual report. The annual report shall contain: (1) The name of the association; (2) The mailing address of its principal office, the address of its registered office in this State, and the name of […]
§421-23 Taxation. To obtain the exemptions from taxation granted by this section or any other law, the association annually shall file with the director of taxation a copy of its report made under section 421-22, and in addition thereto, within ninety days after the close of its fiscal year, shall file with the tax assessor […]
§421-24 Application to existing association. Except where otherwise expressly stated herein, this chapter shall be applicable to any existing association formed under any law of the State providing for the incorporation of agricultural cooperative associations, for a purpose for which an association may be formed under this chapter. [L 1949, c 234, pt of §1; […]
§421-25 General corporation laws, when applicable. Except where otherwise provided, the general corporation laws shall apply to cooperative associations organized under this chapter. [L 1949, c 234, pt of §1; am L 1953, c 137, §1(e); RL 1955, §176-27; HRS §421-25; am L 1983, c 167, §17; am L 1985, c 270, §4]
