§421I-8 Notification of assessment increases. (a) The board of directors shall notify the shareholders in writing of any increase in assessments for common expenses, at least thirty days prior to the increase.
(b) As used in this section, "assessments for common expenses" means any amounts collected from shareholders pursuant to the terms of the corporation's bylaws, articles of incorporation, or proprietary leases, for the operation, maintenance, management, repair, replacement, and improvement of the land, buildings, and any other real or personal property owned or leased by the corporation. [L 1993, c 282, pt of §1]
Structure Hawaii Revised Statutes
Title 23. Corporations and Partnerships
421I. Cooperative Housing Corporations
421I-1 Cooperative housing corporation; defined.
421I-3 Board of directors; election.
421I-5 Meetings of the board of directors.
421I-6 Documents of the corporation.
421I-8 Notification of assessment increases.
421I-9 Mediation and arbitration of disputes.
421I-10 Applicability of other laws.
421I-11 Application of Hawaii business corporation act.
421I-12 Employees of cooperative housing corporations; background checks.