§485-12  Commissioner as agent to accept service; actions in what circuit; notice to issuer.  (a)  Upon any notice filing under section 485-4.5, any application for registration by notification under section 485-9 made by an issuer, or any application for registration by qualification under section 485-10, whether made by an issuer or registered dealer, there shall be filed with the initial notice filing or the application the irrevocable written consent of the issuer that in suits, proceedings, and actions growing out of the violation of this chapter, the service on the commissioner of securities of any notice, process, or pleading therein, authorized by the laws of the State, shall be as valid and binding as if due service had been made on the issuer.

     (b)  Any action shall be brought either in the circuit of the plaintiff's residence or in the circuit in which the commissioner has the commissioner's office.

     (c)  In case any process or pleadings mentioned in this chapter are served upon the commissioner, it shall be by duplicate copies, one of which shall be filed in the office of the commissioner and another immediately forwarded by the commissioner by registered mail to the principal office of the issuer against which the process or pleadings are directed. [L 1957, c 314, pt of §1; Supp, §199-9; HRS §485-12; am L 1984, c 96, §5; gen ch 1985; am L 1993, c 59, §1; am L 1998, c 258, §7; am L 2001, c 16, §2]

 

Cross References

 

  Notice by certified mail, see §1-28.