HAR §16-39-205. Disqualification

(a) Any person who is disqualified by the SEC from using any provision of the Securities Act, Regulation D, 17 CFR section 230.507, shall not qualify for any of the exemptions under this subchapter. (b) Any disqualification caused by this section shall be automatically rescinded if the federal or state agency which created the basis for disqualification determines upon a showing of good cause that it is not necessary under the circumstances that the exemptions be denied. [Eff 6/30/08; comp 11/18/23] (Auth: HRS §§485A-203, 485A-606) (Imp: HRS §§485A-202, 485A-203) B. Notice Filing for Federal Covered Securities §16-39-220 Notice filing for investment company securities. (a) Pursuant to section 485A-302, HRS, for a federal covered security that is issued by an §16-39-221 39-19 investment company registered under the Investment Company Act, the notice filing shall include: (1) A Form NF or a copy of the issuer's federal registration statement; (2) A consent to service of process (Form U-2); and (3) The filing fee set forth in section 16-39- 103. (b) Except as otherwise provided in chapter 485A, HRS, and this chapter, a notice filing shall be effective commencing upon the later of its receipt by the commissioner or the effectiveness of the offering with the SEC, and continuing until two months after the issuer's fiscal year end. A notice filing may be renewed prior to its expiration by filing with the commissioner: (1) A current Form NF or a copy of the issuer's most recent federal registration statement; and (2) The renewal fee set forth in section 16-39- 103. (c) A renewed notice filing shall take effect upon the expiration of the previous notice filing. (d) The initial notice filing by a unit investment trust shall be effective indefinitely. [Eff 6/30/08; comp 11/18/23] (Auth: HRS §485A-606) (Imp: HRS §485A-302) §16-39-221 Notice filing for transactions under the Securities Act, Regulation D, 17 CFR section 230.506. For a federal covered security issued under the Securities Act, Regulation D, 17 CFR section 230.506, a notice filing shall be filed with the commissioner no later than fifteen calendar days after the first sale is made in this State. The notice filing shall consist of: (1) One copy of the Form D currently updated, and the appendix thereto; (2) A consent to service of process (Form U-2); and §16-39-221 39-20 (3) The filing fee set forth in section 16-39- 103. [Eff 6/30/08; comp 11/18/23] (Auth: HRS §485A-606) (Imp: HRS §485A-302) SUBCHAPTER 3 REGISTRATION OF SECURITIES A. Registration of Securities, Prospectus