HRS §414-5
How to count shareholders in a corporation
This section explains how to count shareholders for the purposes of the law. It says that certain groups of people or entities count as one shareholder. It also says that shares held under similar names count as one if they likely belong to the same person.
The statute, as written — Number of shareholders
(a) For purposes of this chapter, the following identified as a shareholder in a corporation's current record of shareholders constitutes one shareholder: (1) Three or fewer co-owners; (2) A corporation, partnership, trust, estate, or other entity; or (3) The trustees, guardians, custodians, or other fiduciaries of a single trust, estate, or account. (b) For purposes of this chapter, shareholdings registered in substantially similar names constitute one shareholder if it is reasonable to believe that the names represent the same person.
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