HRS §421C-36
Voting stock is exempt from registration
Read the official text at capitol.hawaii.gov ↗This section says that certain membership stock or certificates, and the capital of certain associations, are exempt from securities registration. It applies to associations organized under this chapter or existing before it was passed. The exemption is under the state's securities law.
The statute, as written — Exemption of voting stock from registration
A copy, taken August 20, 2026. The version published by the Legislature is the one that governs, and it may have changed since. Check it before relying on anything here.
Membership stock or membership certificates under section 421C-3(a), or share or membership capital of any association organized under or existing prior to passage of this chapter shall be included as exempt securities under section 485A-201.
Sections this one refers to
§421C-3 How housing cooperatives are organized and can change type
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