{"data":{"id":"us-hi/haw.-rev.-stat.-414d-54","jurisdiction":"us-hi","citation":"Haw. Rev. Stat. § 414D-54","heading":"Ultra vires.","body":"(a) Except as provided in subsection (b), the validity of corporate action may not be challenged on the ground that the corporation lacks or lacked power to act.\n\n(b) A corporation's power to act may be challenged in a proceeding against the corporation to enjoin an act where a third party has not acquired rights. The proceeding may be brought by the attorney general, a director, or by a member or members in a derivative proceeding.\n\n(c) A corporation's power to act may be challenged in a proceeding against an incumbent or former director, officer, employee, or agent of the corporation. The proceeding may be brought by a director, the corporation, directly, derivatively, or through a receiver, a trustee, or other legal representative, or in the case of a public benefit corporation, by the attorney general.","path":["HI Code","Division 2","Title 23","Chapter 414D"],"source_url":"http://www.capitol.hawaii.gov/hrscurrent/Vol08_Ch0401-0429/HRS0414D/HRS_0414D-0054.htm","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:11Z","sha256":"8c9376b66d30fb48c6b5c01815177225a05425217542358dfba2b0d8351a7611","source_id":"us-hi","stale":false,"prev":"us-hi/haw.-rev.-stat.-414d-53","next":"us-hi/haw.-rev.-stat.-414d-6"},"notice":"GroundRules: Original legal text. Not legal advice."}