HRS §539-3
When a security can be registered in beneficiary form
This section says a security can be registered in beneficiary form if the law of certain states allows it. Even if the law didn't allow it at the time, the registration is still considered valid under contract law.
everyone
The statute, as written — Registration in beneficiary form; applicable law
A security may be registered in beneficiary form if the form is authorized by this or a similar statute of the state of organization of the issuer or registering entity, the location of the registering entity's principal office, the office of its transfer agent or its office making the registration, or by this or a similar statute of the law of the state listed as the owner's address at the time of registration. A registration governed by the law of a jurisdiction in which this or similar legislation is not in force or was not in force when a registration in beneficiary form was made is nevertheless presumed to be valid and authorized as a matter of contract law.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.