2020 Hawaii Revised Statutes
Title 26. Trade Regulation and Practice
485A. Uniform Securities Act
485A-701 Application of act to existing proceeding and existing rights and duties.
§485A-701 Application of act to existing proceeding and existing rights and duties. (a) The predecessor act exclusively governs all actions or proceedings that are pending on July 1, 2008, or may be instituted on the basis of conduct occurring before July 1, 2008; provided that a civil action may not be maintained to enforce any liability under the predecessor act unless instituted within any period of limitation that applied when the cause of action accrued or within five years after July 1, 2008, whichever is earlier.
(b) All effective registrations under the predecessor act, all administrative orders relating to the registrations, rules, statements of policy, interpretative opinions, declaratory rulings, no-action determinations, and conditions imposed on the registrations under the predecessor act shall remain in effect for the period that they would have remained in effect if this chapter had not been enacted. The registration orders, rules, statements, opinions, rulings, determinations, and conditions, shall be deemed to have been filed, issued, or imposed under this chapter, but shall be exclusively governed by the predecessor act. [L 2006, c 229, pt of §1]
Revision Note
"July 1, 2008" substituted for "the effective date of this chapter".
