Haw. Code R. § 16-38-26 - Integration
A separate sale of securities within or without this State shall be included as part of the same offering if, after considering the following elements, the particular facts and circumstances indicate the sale to be part of the same offering. The elements to be considered are whether the:
(1) Sales are part of a single
plan of financing;
(2) Sales
involve the issuance of the same class of security;
(3) Sales are made at or about the same
time;
(4) Same type of
consideration is received; and
(5)
Sales are made for the same general purpose.
Notes
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