HRS §414-355
Restrictions on transferring shares during a corporate vote
This section lets a corporation temporarily block the transfer of shares that are not held as paper certificates, starting when the company asks for payment for those shares and ending when the corporate action happens or the restriction is lifted. The shareholder keeps all other rights until the action is taken.
The statute, as written — Share restrictions
(a) The corporation may restrict the transfer of uncertificated shares from the date the demand for their payment is received until the proposed corporate action is taken or the restrictions released under section 414-357. (b) The person for whom dissenters' rights are asserted as to uncertificated shares retains all other rights of a shareholder until these rights are canceled or modified by the taking of the proposed corporate action.
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