Chapter 417E — Chapter 417E
11 sections in this chapter.
HRS §417E-1 Definitions
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§417E-1 Definitions. As used in this chapter, unless the context otherwise requires: "Affiliate" of a person means any person controlling, controlled by, or under common control with such person. "Associate" of a person means any person acting jointly or in concert with such pers…
HRS §417E-10 Civil liabilities
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§417E-10 Civil liabilities. (a) Any offeror who purchases a security in connection with a take-over offer in violation of this chapter shall be liable to the person selling the security to the offeror who may sue either at law or in equity. In an action for rescission, the seller…
HRS §417E-11 Application of securities law
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§417E-11 Application of securities law. All of the provisions of chapter 485A that are not in conflict with this chapter shall apply to any take-over offer involving a target company in this State. [L 1985, c 32, pt of §2; am L 2006, c 229, §12]
HRS §417E-2 Registration of take-over offers
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§417E-2 Registration of take-over offers. (a) It is unlawful for any person to make a take-over offer or to acquire any equity securities pursuant to the offer, unless the offer is effective under this chapter. A take-over offer is effective when the offeror files with the commis…
HRS §417E-3 Filing of solicitation materials
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§417E-3 Filing of solicitation materials. Copies of all advertisements, circulars, letters, or other materials published by the offeror or the target company, soliciting or requesting the acceptance or rejection of the take-over offer, shall be filed with the commissioner and sen…
HRS §417E-4 Fraudulent and deceptive practices
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§417E-4 Fraudulent and deceptive practices. It is unlawful for any offeror or target company or any controlling person of an offeror or target company or any broker-dealer acting on behalf of an offeror or target company to engage in any fraudulent, deceptive, or manipulative act…
HRS §417E-5 Limitations on offerors
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§417E-5 Limitations on offerors. (a) No offeror may make a take-over offer which is not made to stockholders in this State on substantially the same terms as the offer is made to stockholders outside this State. (b) An offeror shall provide that any equity securities of a target …
HRS §417E-6 Administration, rules and orders
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§417E-6 Administration, rules and orders. (a) In administering this chapter, the commissioner may exercise all powers granted to the commissioner under chapter 485A, which are not inconsistent with this chapter. (b) The commissioner may make and adopt such rules and forms as are …
HRS §417E-7 Fees and expenses
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§417E-7 Fees and expenses. The commissioner shall impose a filing fee of $250 for a registration statement filed by an offeror. [L 1985, c 32, pt of §2]
HRS §417E-8 Injunctions
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§417E-8 Injunctions. Whenever it appears to the commissioner that any person, including a controlling person of an offeror or target company, has engaged or is about to engage in any act or practice constituting a violation of this chapter or any rule or order hereunder, the comm…
HRS §417E-9 Penalties
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§417E-9 Penalties. (a) Any person, including a controlling person of an offeror or target company, who violates any provision of this chapter or any rule thereunder, or any order of the commissioner of which this person has notice, shall be subject to a fine of not more than $25,…