OPINION OF THE COURT BY MARUMOTO, J.
The question for decision on this appeal is the scope of exemption provided in R.L.H. 1955, 1965 Supp., § 199-5 (j), from the other provisions of R.L.H. 1955, 1965 Supp., c. 199, which regulates sales of securities in Hawaii.
R.L.H. 1955, 1965 Supp., c. 199, which will hereafter be referred to as the amended securities act, is a compilation of the provisions of Act 314 of the Session Laws of 1957, which replaced the...
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