No. of Recommendations: 4
Overwhelming odds are that it will be held unconstitutional,
Having read the news article you linked, it sounds like getting taken to court and losing based on Citizens United is expected. The Hawaii legislature wants to try to overturn that ruling, and the way to do that is with a law that expected to be challenged in court.
It also sounds like Hawaii is uniquely situated to talk about corporate governance vs governance by citizens based on their pre-statehood history. And it appears to be a bipartisan stand, based on the nearly unanimous votes in the legislature.
It will be interesting to see how it all plays out. I would not hold out much hope with the current USSC. But it will take a few years to get there, and who knows what the makeup of the court will be by then.
—Peter
