{"data":{"id":"us-hi/haw.-rev.-stat.-490-8-103","jurisdiction":"us-hi","citation":"Haw. Rev. Stat. § 490:8-103","heading":"Rules for determining whether certain obligations and interests are securities or financial assets.","body":"(a) A share or similar equity interest issued by a corporation, business trust, joint stock company, or similar entity shall be deemed a security.\n\n(b) An \"investment company security\" shall be deemed a security. \"Investment company security\" means a share or similar equity interest issued by an entity that is registered as an investment company under the federal investment company laws, an interest in a unit investment trust that is so registered, or a face-amount certificate issued by a face-amount certificate company that is so registered. \"Investment company security\" does not include an insurance policy or endowment policy or annuity contract issued by an insurance company.\n\n(c) An interest in a partnership or limited liability company shall not be deemed a security unless it is dealt in or traded on securities exchanges or in securities markets, its terms expressly provide that it is a security governed by this article, or it is an investment company security. However, an interest in a partnership or limited liability company shall be deemed a financial asset if it is held in a securities account.\n\n(d) A writing that is a security certificate shall be governed by this article and not by article 3, even though it also meets the requirements of that article. However, a negotiable instrument governed by article 3 shall be deemed a financial asset if it is held in a securities account.\n\n(e) An option or similar obligation issued by a clearing corporation to its participants shall not be deemed a security, but shall be deemed a financial asset.\n\n(f) A commodity contract, as defined in section 490:9-102(a), shall not be deemed a security or a financial asset.\n\n(g) A controllable account, controllable electronic record, or controllable payment intangible shall not be deemed a financial asset unless the controllable account, controllable electronic record, or controllable payment intangible is a property that is held by a securities intermediary for another person in a securities account and the securities intermediary has expressly agreed with the other person that the property is to be treated as a financial asset under this article.","path":["Hawaii Code","Division 2","Title 27","Chapter 490"],"source_url":"http://www.capitol.hawaii.gov/hrscurrent/Vol11_Ch0476-0490/HRS0490/HRS_0490-0008-0103.htm","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:11Z","sha256":"bc546b0584626d83bcdb920a3e7b76dc09549ca89c13522ae01219a5577fda42","source_id":"us-hi","stale":false,"prev":"us-hi/haw.-rev.-stat.-490-8-102","next":"us-hi/haw.-rev.-stat.-490-8-104"},"notice":"GroundRules: Original legal text. Not legal advice."}