HAR §16-38-11. Registration of securities by qualification

The commissioner shall look with disfavor and reject any application for registration of securities as being fraudulent or working or tending to work a fraud upon the purchaser, or may find that the enterprise or business of the issuer is based on unsound business principles, unless the following requirements are met or good cause is shown for an exception. [Eff 6/4/70; am 8/8/71; am and ren §16-38-11, 7/30/81; am and comp 10/12/85; comp 4/14/03] (Auth: HRS §485-2) (Imp: HRS §§485-2, 485-10) §16-38-11.3 38-31