Hawaii Revised Statutes 431:4-210 – Unlawful sales of equity security
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It shall be unlawful for any beneficial owner, director, or officer, directly or indirectly, to sell any equity security of the company if the person selling the security or the person’s principal:
Terms Used In Hawaii Revised Statutes 431:4-210
- Equity security: means any stock or similar security; any security convertible, with or without consideration, into such a security, or carrying any warrant or right to subscribe to or purchase such a security; any such warrant or right; or any security that the commissioner, by rules and regulations as the commissioner may prescribe in the public interest or for the protection of investors, designates as an equity security. See Hawaii Revised Statutes 431:4-101
No person shall be deemed to have violated this section if the person proves that notwithstanding the exercise of good faith the person was unable to make delivery or deposit within the required time, or that to do so would cause undue inconvenience or expense.