Hawaii SB2829 limits corporate powers to exclude election and ballot-issue activities.

Hawaii SB2829 amends state statutes to redefine and restrict the powers of corporations, limited liability companies, partnerships, associations, and other artificial persons. The bill clarifies that these entities possess only those powers necessary or convenient to conduct lawful business and charitable activities. Notably, it explicitly excludes powers related to election activity or ballot-issue activity, such as spending money to influence elections or ballot measures. Any corporate action involving such activities is deemed ultra vires and void.

Hawaii SB2829 limits corporate powers to exclude election and ballot-issue activities.

Hawaii SB2829 amends state statutes to redefine and restrict the powers of corporations, limited liability companies, partnerships, associations, and other artificial persons. The bill clarifies that these entities possess only those powers necessary or convenient to conduct lawful business and charitable activities. Notably, it explicitly excludes powers related to election activity or ballot-issue activity, such as spending money to influence elections or ballot measures. Any corporate action involving such activities is deemed ultra vires and void.