×
Go back to Martindale-Avvo ➔

Hawaii Corporate Legal Questions

Want a good answer? Ask a thorough question starting with "Who, What, When, How, Will I or Do I".
Then, add details. This will help you get a quicker and better answer.
Question field is required
Explanation field is required
A valid US zip code is required Validating the Zip Code.
Question type field is required
Question type field is required
1
Ask a Question
2
Details
3
Submit
1
Ask a Question
2
Submit
Fullname is required
A valid email address is required.
Receive a follow-up from lawyers after your question is answered
A valid phone number is required
Select the best time for you to receive a follow-up call from a lawyer after your question is answered. (Required field)
to
Invalid Time

*Required fields

Question
Description
By submitting your question, you understand and agree to the Terms and Conditions and Privacy Policy for use of the site. Do not include any personal information including name, email or other identifying details in your question or question details. An attorney-client relationship is not being established and you are not a prospective client of any attorney who responds to your question. No question, answer, or discussion of any kind facilitated on this site is confidential or legal advice. Questions answered are randomly selected based on general consumer interest and not all are addressed. Questions may display online and be archived by Martindale-Hubbell.
2 legal [2, *]questions have been posted about corporate law by real users in Hawaii. Ask your question and dive into the knowledge of attorneys who handle your issue regularly. Similar topics to explore also include corporate litigation, corporate taxation, and corporate governance. All topics and other states can be accessed in the dropdowns below.

Can a minor be an executive if he has controlling interest in a corporation?

Answered 13 years and 6 months ago by attorney Hilary B. Miller   |   1 Answer
Hilary B. Miller
It depends. In most states, there is no age limitation on service as a corporate officer. Any contract of employment that the minor makes with the corporation will be voidable.
It depends. In most states, there is no age limitation on service as a corporate officer. Any contract of employment that the minor makes with the... Read Answer

Can the person with controlling interest in a public corporation "pay" themselves out of the companies assets or profits?

Answered 13 years and 6 months ago by attorney Hilary B. Miller   |   1 Answer
Hilary B. Miller
Yes. This happens all the time. As long as there is some legitimate corporate purpose for the payment (such as compensation for services in accumulating the cash pile or selling the assets), the board of directors of the corporation may approve such a payment. Normally, the board's judgment in such matters is respected by the courts.... Read Answer
Yes. This happens all the time. As long as there is some legitimate corporate purpose for the payment (such as compensation for services in... Read Answer

Helpful Resources