§16-14-7 - Disclaimers and termination of registration.

§16-14-7 Disclaimers and termination of registration.

         (a) A disclaimer of affiliation or a request for termination of registration may be made when a person does not, or will not upon the taking of some proposed action, control another person (hereinafter referred to as "the subject"). The disclaimer shall contain the following information:

(1) The number of authorized, issued, and outstanding voting securities of the subject;
(2) The number and percentage of shares of the subject's voting securities which the person whose control is disclaimed, and all affiliates of that person, hold of record, own beneficially, or have a right to acquire, directly or indirectly;
(3) All material relationships and bases for affiliation between the subject and the person whose control is disclaimed and all affiliates of that person; and
(4) A statement explaining why the person whose control is disclaimed does not control the subject.

         (b) A request for termination of registration shall be deemed granted unless the commissioner notifies the registrant otherwise within thirty days after receipt of the request.

        [Eff 3/14/94; comp 10/15/16] (Auth: HRS §§431:2-201, 431:11-109) (Imp: HRS §§431:11-104, 431:11-105, 431:11-106)

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