Hawaii Administrative Rules
Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS
Chapter 38 - SECURITIES - REPEALED
Subchapter 10 - EXEMPT TRANSACTIONS
Section 16-38-26 - Integration
Universal Citation: HI Admin Rules 16-38-26
Current through February, 2024
A separate sale of securities within or without this State shall be included as part of the same offering if, after considering the following elements, the particular facts and circumstances indicate the sale to be part of the same offering. The elements to be considered are whether the:
(1) Sales are part of a single plan of financing;
(2) Sales involve the issuance of the same class of security;
(3) Sales are made at or about the same time;
(4) Same type of consideration is received; and
(5) Sales are made for the same general purpose.
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