HRS §414D-92
When a corporation can buy back its memberships
This section says a public benefit corporation cannot buy its own memberships or any rights from them. Other types of corporations can buy their memberships only if another law allows it. It is a narrow rule about membership buybacks.
The statute, as written — Purchase of memberships
(a) A public benefit corporation shall not purchase any of its memberships or any right arising therefrom. (b) A corporation other than a public benefit corporation may purchase its memberships only to the extent provided in section 414D-232.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.