HRS §48E-17
Special purpose revenue bonds treated as investment securities
This section says that special purpose revenue bonds issued under this chapter are considered investment securities under Hawaii's Uniform Commercial Code. This applies even if other parts of this chapter or the bonds themselves say something different. The only exception is that the bond's own registration rules still apply.
The statute, as written — Status of special purpose revenue bonds under Uniform Commercial Code
Notwithstanding any of the provisions of this chapter or any recitals in any special purpose revenue bonds issued under this chapter, all such special purpose revenue bonds shall be deemed to be investment securities under the Uniform Commercial Code, chapter 490, subject only to the provisions of the special purpose revenue bonds pertaining to registration.
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