HRS §431:4-213
When insurance company stocks are exempt from state rules
This section says that certain state rules about equity securities do not apply to a domestic stock insurance company if the company's stocks are registered with the SEC, must be registered with the SEC, or have fewer than 100 record holders. It lists three specific exemptions.
The statute, as written — Exempt equity securities
Section 431:4-208 to section 431:4-210 shall not apply to equity securities of a domestic stock insurance company if: (1) The equity securities of the company have been registered with the United States Securities and Exchange Commission under section 12 of the Securities Exchange Act of 1934, as amended; (2) The equity securities of the company are required to be registered with the United States Securities and Exchange Commission under section 12 of the Securities Exchange Act of 1934, as amended; or (3) The domestic stock insurance company does not have any class of its equity securities held of record by at least one hundred persons on the last business day of the year next preceding the year in which equity securities of the company would be subject to sections 431:4-208 to 431:4-210 but for this paragraph.
Sections this one refers to
§431:4-208 Who must report stock ownership in an insurance company
§431:4-210 Rules against selling company stock you do not own
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.