§414-412  Procedure for judicialdissolution.  [Subsection effective until June 30, 2010.  For subsectioneffective July 1, 2010, see below.]  (a)  Venue for a proceeding by theattorney general to dissolve a corporation lies in circuit court.  Venue for aproceeding brought by any other party named in section 414-411 lies in thecounty where a corporation's principal office (or, if none in this State, itsregistered office) is or was last located.

(a)  [Subsection effective July 1, 2010. For subsection effective until June 30, 2010, see above.]  Venue for aproceeding by the attorney general to dissolve a corporation lies in circuitcourt.  Venue for a proceeding brought by any other party named in section414-411 lies in the county where a corporation's principal office is or waslocated (or, if none in this State, in the city and county of Honolulu).

(b)  It is not necessary to make shareholdersparties to a proceeding to dissolve a corporation unless relief is soughtagainst them individually.

(c)  A court in a proceeding brought todissolve a corporation may issue injunctions, appoint a receiver or custodianpendente lite with all powers and duties the court directs, take other actionrequired to preserve the corporate assets wherever located, and carry on thebusiness of the corporation until a full hearing can be held.

(d)  Within ten days after the commencement ofa proceeding under section 414-411(2) to dissolve a corporation that has noshares listed on a national securities exchange or regularly traded in a marketmaintained by one or more members of a national or affiliated securitiesassociation, the corporation must send to all shareholders, other than thepetitioner, a notice stating that the shareholders are entitled to avoid thedissolution of the corporation by electing to purchase the petitioner's sharesunder section 414-415 and accompanied by a copy of section 414-415. [L 2000, c244, pt of §1; am L 2009, c 55, §11]