A professional corporation may purchase its own shares from a disqualified person without regard to the availability of capital or surplus for such purchase; provided no purchase of or payment for its own shares shall be made at a time when the corporation is insolvent or when such purchase or payment would make it insolvent.
Haw. Rev. Stat. § 415A-7
Right of corporation to acquire its own shares
Known as the Hawaii Professional Corporation Act
The act spans §§ 415–415 (39 sections).
L 1985, c 259, pt of §1
Official source: Hawaii State Legislature. Reproduced from public-domain Hawaii statutes; confirm against the official source for the current text. Not legal advice.