§421-10 Members. (a) An association may admit as members only bona fide producers of agricultural products, including tenants and landlords receiving a share of the crop, and cooperative associations of the producers. The incorporators named in the articles are thereby made members of the association, and they shall pay for their membership or stock the same amount and in the same manner as may be required in the case of other members.
(b) The articles may limit the amount of common stock which a member may own.
(c) Under the terms and conditions prescribed in the bylaws, a member shall lose the member's membership if the member ceases to belong to the class eligible to membership under this section, but the member shall remain subject to any liability incurred by the member while a member of the association.
(d) No member shall be personally liable for any debt or liability of the association.
(e) Unless the articles otherwise provide, no member shall have more than one vote. [L 1949, c 234, pt of §1; RL 1955, §176-11; HRS §421-10; gen ch 1985]
Structure Hawaii Revised Statutes
Title 23. Corporations and Partnerships
421. Agricultural Cooperative Associations
421-3 Qualifications of incorporators.
421-4 Articles of incorporation.
421-6 Filing and recording articles of incorporation, etc.
421-7 Amendments of articles of incorporation.
421-10 Members.
421-11 Membership or stock certificates, transfers, dividends, preferred stock.
421-12 General and special meetings; how called.
421-18 Contracts between association and members.
421-20 Associations are not in restraint of trade.
421-24 Application to existing association.