Sheriff, etc., see §26-14.6.

Hawaii's Response to Regulation D. 23 HBJ 1.

Exempt Offerings of Securities in Hawaii--An Overview for Start-Up Companies and Small Businesses. VII HBJ No. 13, at p. 43.

Par. (9): "Any period of twelve consecutive months" is unambiguous and cannot be construed to mean "during any fiscal year." 52 H. 273, 474 P.2d 285.

Par. (10): Term "preorganization certificate or subscription" means subscription of capital stock and does not include unregistered debentures. 50 H. 406, 441 P.2d 345. The exemption applies not only to offer or sale of preincorporation subscriptions but also to issuance of stock certificates pursuant to such subscriptions. 50 H. 406, 441 P.2d 345.

Cited: 33 H. 180, 184.