Section 16-39-205 - Disqualification(a) Any person who is disqualified by the SEC from using any provision of the Securities Act, Regulation D, 17 CFR section 230.507, shall not qualify for any of the exemptions under this subchapter.(b) Any disqualification caused by this section shall be automatically rescinded if the federal or state agency which created the basis for disqualification determines upon a showing of good cause that it is not necessary under the circumstances that the exemptions be denied.[Eff 6/30/08] (Auth: HRS §§ 485A-203, 485A-606) (Imp: HRS §§ 485A-202, 485A-203)