§484-4  Prohibitions on dispositions of
interests in subdivisions.  Unless the subdivided lands or the transaction
is exempt by section 484-3:



(1)  No person may offer or dispose of any interest in
subdivided lands located in this State, or offer or dispose in this State of
any interest in subdivided lands located without this State before a
preliminary or final order registering the subdivided land is entered in
accordance with this chapter;



(2)  No person may dispose of any interest in
subdivided lands unless a current public offering statement is delivered to the
purchaser and the purchaser is afforded a reasonable opportunity to examine the
public offering statement prior to the disposition. [L 1967, c 223, §4; HRS
§484-4; am L 1983, c 175, §3; am L 1992, c 132, §3]