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



(a)  [Subsection effective July 1, 2010. 
For subsection effective until June 30, 2010, see above.]  Venue for a
proceeding by the attorney general to dissolve a corporation lies in circuit
court.  Venue for a proceeding brought by any other party named in section
414-411 lies in the county where a corporation's principal office is or was
located (or, if none in this State, in the city and county of Honolulu).



(b)  It is not necessary to make shareholders
parties to a proceeding to dissolve a corporation unless relief is sought
against them individually.



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



(d)  Within ten days after the commencement of
a proceeding under section 414-411(2) to dissolve a corporation that has no
shares listed on a national securities exchange or regularly traded in a market
maintained by one or more members of a national or affiliated securities
association, the corporation must send to all shareholders, other than the
petitioner, a notice stating that the shareholders are entitled to avoid the
dissolution of the corporation by electing to purchase the petitioner's shares
under section 414-415 and accompanied by a copy of section 414-415. [L 2000, c
244, pt of §1; am L 2009, c 55, §11]