§485-8  Registration of securities.  It shall be unlawful for any person to sell or offer to sell in the State, any security except of a class exempt under section 485-4 or unless sold or offered in any transaction exempt under section 485-6 or unless it is a federal covered security, unless the security has been registered by notification or by qualification as hereinafter provided.  Registration of stock shall be deemed to include the registration of rights to subscribe to the stock if the notice under section 485-9 or the application under section 485-10 includes a statement that the rights are to be issued.  A record of the registration of securities shall be kept in a register of securities to be kept in the office of the commissioner of securities in which register also shall be recorded any notice filings made pursuant to section 485-4.5 and any orders entered by the commissioner with respect to the securities.  The register and all information with respect to the securities registered therein shall be open to public inspection. [L 1957, c 314, pt of §1; am L 1963, c 120, §1; Supp, §199-6; HRS §485-8; am L 1984, c 96, §2; am L 1998, c 258, §6]

 

Case Notes

 

  Dealer held liable for not registering securities.  857 F.2d 615.

  Former employees could establish that interest in pensions were securities.  501 F. Supp. 830.

  Unregistered securities and salespersons.  33 H. 180.

  Section 485-21 is an essential element of criminal charge brought pursuant to this section.  78 H. 373, 894 P.2d 70.