Hawaii Administrative Rules
Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS
Chapter 38 - SECURITIES - REPEALED
Subchapter 10 - EXEMPT TRANSACTIONS
Section 16-38-27 - Limitation on expenses
Universal Citation: HI Admin Rules 16-38-27
Current through August, 2024
All expenses of the issues with regard to the securities registered under this subchapter, including but not limited to expenses relating to sales, management fees, acquisition of real or personal property, entertainment, commissions, salaries, and cost of preparation of the offer, shall be reasonable considering the proposed use of the funds raised, the amount to be raised, the type of security being issued, and the relative risk of the investment.
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