HAR §16-36-16. Investment clubs

Any investment club whose purpose is to invest its assets solely in securities for the education and benefit of its members and whose business is only with registered securities dealers in Hawaii shall not be considered to be conducting business in the State, and compliance with the provisions of the general partnership law shall not be required. [Eff 5/10/69; am and ren §16-36-16, 7/30/81; am and comp 12/21/84; am 10/12/85; am and comp 2/6/88; comp 3/28/00; comp 11/22/02; comp 3/29/04] (Auth: HRS §26-9) (Imp: HRS §425-1)