§485-2  Commissioner of securities.  (a)  The administration of this chapter shall be vested in the commissioner of securities.  The director of commerce and consumer affairs shall, with the approval of the governor, appoint the commissioner of securities who shall not be subject to chapter 76.  The securities commissioner shall hold the commissioner's office at the pleasure of the director of commerce and consumer affairs and shall be responsible for the performance of the duties imposed under this chapter.

     (b)  The commissioner of securities may adopt, amend, and repeal, pursuant to chapter 91, such rules as may be necessary to carry out the purposes of this chapter.

     (c)  Notwithstanding subsection (b), the commissioner of securities may adopt, amend, and repeal forms and orders necessary to implement this chapter without regard to chapter 91.  No form or order shall be adopted, amended, or repealed without regard to chapter 91, unless the commissioner of securities finds that the action is in the public interest, necessary or appropriate for the protection of investors, and consistent with the purposes of this chapter. [L 1957, c 314, pt of §1; am L Sp 1959 2d, c 1, §15; am L 1963, c 114, §3; Supp, §199-2; am L 1967, c 57, §1; HRS §485-2; am L 1982, c 204, §8; am L 1983, c 124, §17; am L 1987, c 373, §1; am L 1988, c 141, §55; am L 1989, c 235, §1; am L 2000, c 149, §3 and c 253, §150]

 

Note

 

  Effective July 1, 2002, "chapters 76 and 77" changed to "chapter 76".  L 2000, c 253, §150.