HRS §414-73
Issued and outstanding shares
This section explains when a company's shares count as issued and outstanding. It also requires that, while any shares are outstanding, the company must keep at least one share with voting rights and at least one share that gets the company's assets if it dissolves.
businesses
The statute, as written — Issued and outstanding shares
(a) A corporation may issue the number of shares of each class or series authorized by the articles of incorporation. Shares that are issued are outstanding shares until they are reacquired, redeemed, converted, or canceled. (b) The reacquisition, redemption, or conversion of outstanding shares is subject to the limitations of subsection (c) and section 414-111. (c) At all times that shares of the corporation are outstanding, one or more shares that together have unlimited voting rights and one or more shares that together are entitled to receive the net assets of the corporation upon dissolution must be outstanding.
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