{"data":{"id":"us-hi/haw.-rev.-stat.-414-385","jurisdiction":"us-hi","citation":"Haw. Rev. Stat. § 414-385","heading":"Effect of dissolution.","body":"(a) A dissolved corporation continues its corporate existence but may not carry on any business except that appropriate to wind up and liquidate its business and affairs, including:\n\n(1) Collecting its assets;\n\n(2) Disposing of its properties that will not be distributed in kind to its shareholders;\n\n(3) Discharging or making provision for discharging its liabilities;\n\n(4) Distributing its remaining property among its shareholders according to their interests; and\n\n(5) Doing every other act necessary to wind up and liquidate its business and affairs.\n\n(b) Dissolution of a corporation does not:\n\n(1) Transfer title to the corporation's property;\n\n(2) Prevent transfer of its shares or securities, although the authorization to dissolve may provide for closing the corporation's share transfer records;\n\n(3) Subject its directors or officers to standards of conduct different from those prescribed in part IX;\n\n(4) Change quorum or voting requirements for its board of directors or shareholders; change provisions for selection, resignation, or removal of its directors or officers or both; or change provisions for amending its bylaws;\n\n(5) Prevent commencement of a proceeding by or against the corporation in its corporate name;\n\n(6) Abate or suspend a proceeding pending by or against the corporation on the effective date of dissolution; or\n\n(7) Terminate the authority of the registered agent of the corporation.","path":["HI Code","Division 2","Title 23","Chapter 414"],"source_url":"http://www.capitol.hawaii.gov/hrscurrent/Vol08_Ch0401-0429/HRS0414/HRS_0414-0385.htm","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:11Z","sha256":"2bdfc52210647d121b93befe9f8685eb790c8a73cff59ac058a7ed3ff42a59a8","source_id":"us-hi","stale":false,"prev":"us-hi/haw.-rev.-stat.-414-384","next":"us-hi/haw.-rev.-stat.-414-386"},"notice":"GroundRules: Original legal text. Not legal advice."}