Section 16-39-202 - Exemptions(a) Any offer or sale of securities offered or sold in compliance with the Securities Act, Regulation D, 17 CFR sections 230.501, 230.502, 230.503, and 230.505 and complies with the conditions and limitations of this subchapter, shall be exempted under section 485A-203, HRS.(b) This section shall not provide an exemption for any offer or sale of securities offered or sold in compliance with the Securities Act, Regulation D, 17 CFR section 230.504.[Eff 6/30/08] (Auth: HRS §§ 485A-203, 485A-606) (Imp: HRS §§ 485A-202, 485A-203)