HAR §16-39-201. Limitation on issuers and offerors

(a) Nothing in this subchapter shall relieve, or be construed as in any way relieving, issuers or persons acting on their behalf from the anti-fraud provisions of chapter 485A, HRS. (b) In view of the objective of this subchapter and the purpose and policies underlying chapter 485A, HRS, the exemptions are not available to any issuer or §16-39-203 39-17 persons acting on their behalf with respect to any transaction which, although in technical compliance with this subchapter, is part of a plan or scheme to evade registration or the conditions or limitations explicitly stated in chapter 485A, HRS, or this chapter. [Eff 6/30/08; comp 11/18/23] (Auth: HRS §485A-606) (Imp: HRS §§485A-202, 485A-203)