HRS §39-18
State bonds are valid and can be traded freely
This section makes state bonds and related documents valid and tradable like regular money paper. It says the bonds are not invalid because of small mistakes in how they were issued. A statement on the bonds that they were properly authorized is enough proof they are valid.
buyersfinancial institutionsstate agencies
The statute, as written — Bonds negotiable, incontestable
This part, without reference to any other law, shall be full authority to issue, exchange, or sell bonds of the State, and the bonds and all interim receipts or certificates shall have all the qualities of negotiable paper under state law. The bonds shall not be invalid for any irregularity or defect in the proceedings for the issue, sale, or exchange thereof. The bonds shall contain a recital that they have been authorized and issued pursuant to the laws of the State, which recital shall be conclusive evidence of their validity and the regularity of their issuance. No proceedings in respect of the issuance of any bonds shall be necessary except proceedings required by this part.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.