Hawaii Administrative Rules
Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS
Chapter 38 - SECURITIES - REPEALED
Subchapter 3 - SALESPERSONS
Section 16-38-6.5 - Registration; expiration, renewal, termination

(a) The registration of each salesperson of a dealer or issuer shall automatically expire on December 31 of each calendar year unless the registration has been renewed on or before December 31. A salesperson's registration shall be renewed by the dealer or issuer as provided in section 16-38-5.6.

(b) A salesperson's registration may be terminated prior to its expiration date by either the dealer or issuer employing the salesperson or by the salesperson filing a Form U- 5 with the commissioner. Termination shall be effective when the notice of termination is received by the commissioner unless another date is indicated on the Form U-5. A salesperson who filed its Form U- 4 with the commissioner through the CRD may also file its Form U-5 through the CRD.

(c) A salesperson whose registration with a dealer or issuer has been terminated may apply for registration as a salesperson for another issuer or dealer by filing an application for registration with the commissioner in accordance with the requirements of section 16-38-6.2.

(d) Termination of any dealer's or issuer's registration for any reason shall automatically terminate the registration of all salespersons employed by or affiliated with the dealer or issuer.

(e) When a salesperson ceases the activities of a salesperson, a Form U- 5 to terminate the salesperson's registration shall be promptly filed by the issuer or dealer with whom the salesperson is registered.