HRS §485A-504
When the state can require filing sales and advertising materials
This section says the state can make investment businesses file their sales and advertising materials, like brochures or ads, before using them. But this rule does not apply to certain federal securities, federal investment advisers, or securities that are already exempt under other parts of the law.
financial institutions
The statute, as written — Filing of sales and advertising literature
(a) Except as otherwise provided in subsection (b) and section [485A-501(a)(7)], a rule adopted or order issued under this chapter may require the filing of a prospectus, pamphlet, circular, form letter, advertisement, sales literature, or other advertising record relating to a security or investment advice, addressed or intended for distribution to prospective investors, including clients or prospective clients of a person registered or required to be registered as an investment adviser under this chapter. (b) This section shall not apply to sales and advertising literature specified in subsection (a) that relate to a federal covered security, a federal covered investment adviser, or a security or transaction exempted by section 485A-201, 485A-202, or 485A-203, except as required pursuant to section 485A-201(7).
Sections this one refers to
§485A-201 Which securities are exempt from registration requirements
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