There is a newer version of the Hawaii Revised Statutes
2013 Hawaii Revised Statutes
TITLE 22. BANKS AND FINANCIAL INSTITUTIONS
412. Code of Financial Institutions
ARTICLE 1. GENERAL PROVISIONS- 412:1-100 Short title.
- 412:1-101 Purpose.
- 412:1-102 Scope and application of chapter.
- 412:1-103 Application to existing financial institutions.
- 412:1-104 Names.
- 412:1-105 Deposits.
- 412:1-106 Headings; references.
- 412:1-107 Particular provisions prevail.
- 412:1-108 Jurisdiction conferred upon circuit court.
- 412:1-109 Definitions.
PART I. ADMINISTRATION
- 412:2-100 Commissioner of financial institutions; division of financial institutions.
- 412:2-100.5 Powers of the commissioner.
- 412:2-101 Deputy commissioner, acting commissioner.
- 412:2-102 Examiners and other personnel.
- 412:2-103 Disqualifications.
- 412:2-104 Confidentiality of information possessed by commissioner.
- 412:2-105 Fees.
- 412:2-105.1 Hawaii financial institutions; fees; penalty
- 412:2-105.2 Hawaii financial institutions; assessments; fees; penalty
- 412:2-106 Public or private hearings.
- 412:2-107 Rules.
- 412:2-108 Alternative mortgage loans rules.
- 412:2-109 Compliance resolution fund; financial institution examiners.
- 412:2-110 Emergency applications.
- 412:2-111 Commissioner's power to subpoena.
- 412:2-300 Enforcement actions.
- 412:2-301 Joint enforcement with federal regulatory agency.
- 412:2-302 Cease and desist orders; grounds for issuance.
- 412:2-303 Permanent cease and desist orders; procedure; hearing; enforcement.
- 412:2-304 Temporary cease and desist orders; effective date; hearing; enforcement.
- 412:2-305 Consent cease and desist orders.
- 412:2-306 Removal or prohibition of institution-affiliated party; grounds.
- 412:2-307 Removal or prohibition of institution-affiliated party; procedure; hearing; enforcement.
- 412:2-308 Order of immediate suspension; procedure; effective date; hearing; enforcement.
- 412:2-309 Consent order of removal or prohibition.
- 412:2-310 Removal, prohibition, or suspension; effect of order.
- 412:2-311 Suspension or revocation of charter or license.
- 412:2-312 Suspension or revocation; procedure; hearing; enforcement.
- 412:2-313 Consent suspension and revocation order.
- 412:2-314 Action to correct capital and surplus impairment.
- 412:2-315 National or state emergencies.
- 412:2-400 Grounds for appointment of conservator or receiver.
- 412:2-401 Appointment of conservator or receiver; judicial review.
- 412:2-402 Additional grounds for appointment.
- 412:2-403 Who may serve as conservator or receiver.
- 412:2-404 Federal insurer as conservator or receiver; subrogation.
- 412:2-405 Removal or replacement of conservator or receiver.
- 412:2-406 Compensation and expenses of conservator or receiver.
- 412:2-407 Stay of judicial proceedings.
- 412:2-408 Duties and powers of conservator.
- 412:2-409 Conservator's segregation of deposits.
- 412:2-410 Supervised reorganization.
- 412:2-411 Termination of conservatorship.
- 412:2-412 Duties and powers of receiver.
- 412:2-413 No interest on deposits of an institution in receivership.
- 412:2-414 Optional court supervision.
- 412:2-415 Notice of receivership; filing of claims.
- 412:2-416 Liquidation by receiver; priority of claims.
- 412:2-417 Final accounting and discharge.
- 412:2-418 Transfer of assets in contemplation of insolvency void.
- 412:2-419 Treatment of lessors.
- 412:2-420 Claims for wrongful termination of employment.
- 412:2-421 Bailments and safe deposit boxes in receivership.
- 412:2-500 Definitions.
- 412:2-501 Commissioner's determination of failing institution.
- 412:2-502 Solicitation of purchasers.
- 412:2-503 Applications to purchase.
- 412:2-504 Granting of application; criteria for approval.
- 412:2-505 Waiver of statewide concentration limits under the Bank Holding Company Act of 1956, as amended.
- 412:2-506 Charter or license.
- 412:2-507 Expedited approvals.
- 412:2-508 Provisional approval to organize.
- 412:2-509 Effect of merger or acquisition on prior business, title and obligations.
- 412:2-510 Commissioner's powers.
- 412:2-511 Modification of time periods.
- 412:2-512 REPEALED.
- 412:2-600 Applicability of part.
- 412:2-601 Violation of chapter.
- 412:2-602 Copying records of Hawaii financial institutions.
- 412:2-603 Disclosures of records of Hawaii financial institutions.
- 412:2-604 Concealment.
- 412:2-605 REPEALED.
- 412:2-606 Witness; failure to testify or produce records.
- 412:2-606.5 Financial institution name fraud.
- 412:2-607 Deception; false statements.
- 412:2-608 Misapplication of funds.
- 412:2-609 Imposition of administrative fines; assessment.
- 412:2-609.5 Imposition of administrative fines on persons who are not Hawaii financial institutions; assessment.
- 412:2-610 Compromise or modification of administrative fines; determining amount of fine; hearing.
- 412:2-611 Action to recover administrative fines; deposit to compliance resolution fund.
FINANCIAL INSTITUTIONS
PART I. GENERAL PROVISIONS
- 412:3-100 Applicability of this part.
- 412:3-101 Name of financial institution.
- 412:3-102 Change of name.
- 412:3-103 REPEALED.
- 412:3-104 Qualifications of directors.
- 412:3-105 Election and appointment of executive officers.
- 412:3-106 Residency of chief executive officer.
- 412:3-107 Meetings of the board.
- 412:3-108 Generally accepted accounting principles.
- 412:3-109 Charging down assets.
- 412:3-110 Holding of assets.
- 412:3-111 Maintenance of books and records.
- 412:3-111.5 Request for information by the commissioner.
- 412:3-112 Submissions to commissioner.
- 412:3-113 REPEALED.
- 412:3-114 Duty to report illegal acts.
- 412:3-114.5 Mandatory reporting of suspected financial abuse of an elder.
- 412:3-115 REPEALED.
LOAN ASSOCIATIONS, TRUST COMPANIES AND DEPOSITORY
FINANCIAL SERVICES LOAN COMPANIES
- 412:3-200 Applicability of part.
- 412:3-201 Application for preliminary approval to organize a financial institution.
- 412:3-202 Additional requirements for holding company.
- 412:3-203 Deferral of application requirements.
- 412:3-204 Publication of notice.
- 412:3-205 Informational and comment proceeding on application.
- 412:3-206 Grant of preliminary approval to organize a financial institution.
- 412:3-207 Denial of preliminary approval to organize.
- 412:3-208 REPEALED.
- 412:3-209 Paid-in capital and surplus.
- 412:3-210 REPEALED.
- 412:3-211 Time limit to complete organization.
- 412:3-212 Final application for charter or license.
- 412:3-213 Denial of charter or license.
LOAN COMPANIES
- 412:3-300 Applicability of part.
- 412:3-301 Application for license.
- 412:3-302 Publication of notice.
- 412:3-303 Informational and comment proceeding.
- 412:3-304 Grant of approval.
- 412:3-305 Denial of license.
- 412:3-306 Paid-in capital and surplus.
- 412:3-400 Applicability of part.
- 412:3-401 Applicability of Hawaii Business Corporation Act.
- 412:3-402 Capital stock.
- 412:3-403 Dividends and other capital distributions.
- 412:3-500 Prohibition of business at unauthorized locations.
- 412:3-501 Authorized places of business.
- 412:3-502 Foreign financial institution.
- 412:3-503 Opening or relocating principal office, branch, or agency.
- 412:3-504 Notice and deadline for opening or relocating principal office, branch, or agency.
- 412:3-505 Opening or relocating out-of-state branch or agency.
- 412:3-506 Opening or relocating a support facility
- 412:3-507 Closing branch or agency; temporary closures and relocations.
- 412:3-508 Closing a support facility.
- 412:3-509 Out-of-state branch or agency.
ASSUMPTIONS, AND VOLUNTARY DISSOLUTIONS
- 412:3-600 Applicability of this part.
- 412:3-601 No conversions, mergers, consolidations, acquisitions, assumptions, voluntary cessations of business, or voluntary dissolutions except pursuant to this part.
- 412:3-602 Definitions.
- 412:3-603 Procedure for applications pursuant to this part.
- 412:3-604 Shareholder or member vote.
- 412:3-605 Notice to credit union member.
- 412:3-606 Conversion from State to comparable federal financial institution.
- 412:3-607 Conversion from federal to comparable Hawaii financial institution.
- 412:3-608 Conversion to another type of financial institution.
- 412:3-609 Merger or consolidation of Hawaii financial institutions.
- 412:3-610 Effect of conversion, merger, or consolidation.
- 412:3-611 Merger or consolidation of financial institution holding companies.
- 412:3-612 Acquisition of control of financial institution or financial institution holding company.
- 412:3-613 Sale or acquisition of assets and transfer or assumption of liabilities.
- 412:3-614 Sale or transfer of charter or license prohibited.
- 412:3-615 Nonconforming assets or business.
- 412:3-616 Authority for expedited conversion, merger, consolidation, acquisition, or assumption.
- 412:3-617 Voluntary cessation of business; dissolution.
- 412:3-618 Injunctions.
GENERALLY
- 412:4-100 Law applicable.
- 412:4-101 Forms of deposit.
- 412:4-102 Deposit account statements.
- 412:4-103 Statements presumed correct after one year; statute of limitations.
- 412:4-104 Federal deposit insurance required.
- 412:4-105 Accounts held in more than one name.
- 412:4-106 Fiduciary accounts.
- 412:4-107 Accounts of minors.
- 412:4-108 No notice of incapacity.
- 412:4-109 Checks drawn or transfers or withdrawals made by authorized persons.
- 412:4-110 Checks drawn or transfers or withdrawals made by intoxicated persons.
- 412:4-111 Accounts of deceased nonresidents.
- 412:4-112 Pledging of assets
PART I. GENERAL PROVISIONSPART II. POWERS OF BANKS
- 412:5-200 General powers.
- 412:5-201 Powers granted under federal law.
- 412:5-202 Membership in federal banks.
- 412:5-203 Operating subsidiaries.
- 412:5-204 Acceptances of drafts and bills of exchange.
- 412:5-205 Authority to engage in trust business.
- 412:5-205.5 Insurance and annuities powers.
- 412:5-205.6 Requirements of banks engaging in insurance activities.
- 412:5-205.7 Securities powers.
- 412:5-206 International banking facilities.
- 412:5-300 Applicability of part.
- 412:5-301 General requirements for loans.
- 412:5-302 Limitations on loans and extensions of credit to one borrower.
- 412:5-303 Loans to executive officers, directors, principal shareholders and affiliates.
- 412:5-304 General requirement for investments.
- 412:5-305 Permitted investments.
- 412:5-306 Deposits made by banks.
- 412:5-400 Definitions.
- 412:5-401 Required approval.
- 412:5-402 Procedure to obtain approval.
- 412:5-403 Examination and regulation.
- 412:5-404 Termination of authority of intra-Pacific bank.
- 412:5-405 Termination of authority of intra-Pacific bank holding company.
- 412:5-406 Paid-in capital and surplus.
- 412:5-407 Same powers and duties as banks.
- 412:5A-200 Scope and definitions.
- 412:5A-201 Application; fee; approval.
- 412:5A-202 Majority ownership by bank.
- 412:5A-203 Paid-in capital and surplus.
- 412:5A-204 Prohibition of business in United States.
- 412:5A-205 Powers and duties.
- 412:5A-206 Acceptance of deposits and reserves.
- 412:5A-207 Deposit of corporate funds.
- 412:5A-208 Limitation on investments.
- 412:5A-209 Acquisition of stock in competing corporation.
- 412:5A-210 Acquisition of stock to save a loss.
- 412:5A-211 Prohibited corporate activities.
- 412:5A-212 Improper discounting of loans.
- 412:5A-213 Improper fixing of commodity prices.
- 412:5A-214 Misrepresentation of state liability for bonds.
PART I. GENERAL PROVISIONSPART II. POWERS OF SAVINGS BANKS
- 412:6-200 General powers.
- 412:6-201 Powers granted under federal law.
- 412:6-202 Membership in federal home loan bank.
- 412:6-203 Service corporations.
- 412:6-204 Operating subsidiaries.
- 412:6-300 Applicability of part.
- 412:6-301 General requirements for loans.
- 412:6-302 Requirements and limits for certain loans.
- 412:6-303 Limitations on loans and extensions of credit to one borrower.
- 412:6-304 Loans and extensions of credit to executive officers, directors, principal shareholders and affiliates
- 412:6-305 General requirement for investments.
- 412:6-306 Permitted investments.
- 412:6-307 Deposits made by savings banks.
PART I. GENERAL PROVISIONSPART II. POWERS OF SAVINGS AND LOAN ASSOCIATIONS
- 412:7-200 General powers.
- 412:7-201 Powers granted under federal law.
- 412:7-202 Membership in federal home loan bank.
- 412:7-203 Service corporations.
- 412:7-204 Operating subsidiaries.
- 412:7-300 Applicability of part.
- 412:7-301 General requirements for loans.
- 412:7-302 Requirements and limits for certain loans.
- 412:7-303 Limitations on loans and extensions of credit to one borrower.
- 412:7-304 Loans and extensions of credit to executive officers, directors, principal shareholders and affiliates.
- 412:7-305 General requirement for investments.
- 412:7-306 Permitted investments.
- 412:7-307 Deposits made by savings and loan associations.
AND LOAN ASSOCIATIONS--REPEALEDARTICLE 8. TRUST COMPANIES
PART I. GENERAL PROVISIONS
- 412:8-100 Applicability of article.
- 412:8-101 Definitions.
- 412:8-102 Necessity for trust company charter.
- 412:8-103 Authority to serve as trustee
- 412:8-200 General powers.
- 412:8-201 Fiduciary powers.
- 412:8-202 Acting as agent.
- 412:8-203 Use of nominees.
- 412:8-204 Agreement between trust companies and banks.
- 412:8-300 Applicability of part.
- 412:8-301 Permitted investments of capital and surplus.
- 412:8-302 Deposits made by trust companies.
- 412:8-400 General requirements.
- 412:8-401 Trust funds awaiting investment.
- 412:8-402 Common trust fund investments.
- 412:8-403 Disclosure of fees.
PART I. GENERAL PROVISIONS
- 412:9-100 Definitions.
- 412:9-101 Necessity for financial services loan company license.
- 412:9-102 Annual license fee.
- 412:9-103 Display of license.
- 412:9-200 General powers.
- 412:9-201 Powers that require regulatory approval.
- 412:9-202 Prohibitions.
- 412:9-300 General requirements for loans and extensions of credit.
- 412:9-301 Interest computation methods.
- 412:9-302 Interest rates.
- 412:9-303 Effect of excessive interest.
- 412:9-304 Consumer loan charges.
- 412:9-305 Open-end consumer loans.
- 412:9-306 Refunds on prepayment of a precomputed loan.
- 412:9-307 Fraction of a month.
- 412:9-308 Repayment terms.
- 412:9-309 Assignments, sale or pledge of loans.
- 412:9-400 Special powers of a depository financial services loan company.
- 412:9-401 Required reserve for a depository financial services loan company
- 412:9-402 Membership in federal home loan bank.
- 412:9-403 Service corporations
- 412:9-404 Limitations on loans and extensions of credit to one borrower
- 412:9-405 Loans and extensions of credit fully secured by real property.
- 412:9-406 REPEALED.
- 412:9-407 Limits on transactions with affiliates, executive officers, directors or principal shareholders.
- 412:9-408 General requirement for investments.
- 412:9-409 Permitted investments.
- 412:9-410 Deposits made by depository financial services loan companies.
- 412:9-500 Prohibitions.
- 412:9-501 Registration of nondepository financial services loan companies with NMLS.
PART I. GENERAL PROVISIONS
- 412:10-100 Definitions.
- 412:10-101 Necessity for credit union charter.
- 412:10-102 Capital stock or surplus.
- 412:10-103 Application for charter.
- 412:10-104 Articles and bylaws.
- 412:10-105 Disclosure of information.
- 412:10-106 Deposit and share insurance.
- 412:10-107 Grant of approval.
- 412:10-108 Denial of charter.
- 412:10-109 Membership.
- 412:10-110 Membership meetings.
- 412:10-111 Voting.
- 412:10-112 Board of directors.
- 412:10-113 No compensation of directors or committee members.
- 412:10-114 Credit committee.
- 412:10-115 Credit manager.
- 412:10-116 Loan officers.
- 412:10-117 Supervisory committee.
- 412:10-118 Record of officials.
- 412:10-119 Conflicts of interest.
- 412:10-120 Suspension or removal of officials.
- 412:10-121 Central credit unions.
- 412:10-122 Taxation.
- 412:10-123 Fiscal year.
- 412:10-124 Conducting business outside this State.
- 412:10-125 Credit union advisory board.
- 412:10-200 General powers.
- 412:10-201 Powers granted under federal law.
- 412:10-202 Credit union service organizations.
- 412:10-203 Sale or purchase of obligations or notes.
- 412:10-204 Sale or purchase of assets.
- 412:10-300 Applicability of other provisions of this chapter.
- 412:10-301 Share accounts and membership shares.
- 412:10-302 Dividends.
- 412:10-303 Deposit accounts.
- 412:10-304 Withdrawals.
- 412:10-305 Minor accounts.
- 412:10-306 Joint accounts.
- 412:10-307 Trust accounts.
- 412:10-308 Payable-on-death accounts.
- 412:10-309 Liens.
- 412:10-310 Dormant accounts.
- 412:10-400 Applicability of part.
- 412:10-401 General requirements for loans.
- 412:10-402 Loans to members.
- 412:10-403 Interest rates.
- 412:10-404 Other charges.
- 412:10-405 Applications.
- 412:10-406 Prepayment of loan.
- 412:10-407 Limitations on obligations of one borrower.
- 412:10-408 Loans to officials.
- 412:10-409 Real estate mortgage loans.
- 412:10-410 Lines of credit.
- 412:10-411 Loans to other credit unions.
- 412:10-412 Participation loans.
- 412:10-413 Other loan programs.
- 412:10-500 Applicability of part.
- 412:10-501 General requirement for investments.
- 412:10-502 Permitted investments.
- 412:10-503 Deposits made by credit unions.
- 412:10-700 Insurance for members.
- 412:10-701 Liability insurance for officers
- 412:10-702 Group purchasing
- 412:10-703 Money-type instruments
- 412:10-704 Retirement accounts
- 412:10-800 Application of part.
- 412:10-801 Purposes.
- 412:10-802 Membership.
- 412:10-803 Organization.
- 412:10-804 Management and operation of corporate credit union.
- 412:10-805 Powers.
- 412:10-806 Participation in central system.
- 412:10-807 Collection on loans to members.
- 412:10-808 Meetings.
- 412:11-100 Applicability of article.
- 412:11-101 Registration and reporting of financial institution holding companies.
- 412:11-102 Examination of financial institution holding company.
- 412:11-103 Use of state or federal examinations.
- 412:11-104 Service of process.
- 412:11-105 Sanctions for failure to register or submit reports.
- 412:11-106 Injunctions.
MERGERS
- 412:12-100 Purpose.
- 412:12-101 Definitions.
- 412:12-102 Authority of Hawaii state banks to establish interstate branches by merger.
- 412:12-103 Authority of Hawaii state banks to establish a de novo interstate branch or acquire an interstate branch.
- 412:12-104 Authority of out-of-state banks to establish interstate branches in Hawaii by merger.
- 412:12-105 Authority of out-of-state banks to establish a de novo interstate branch or acquire an interstate branch.
- 412:12-106 No concentration limit under Hawaii state law; waiver of federal concentration limits.
- 412:12-107 Powers; additional branches.
- 412:12-108 Examinations; periodic reports; cooperative agreements; assessment of fees.
- 412:12-109 Enforcement.
- 412:12-110 Notice of subsequent merger, etc.
PART I. GENERAL
- 412:13-100 Title and purpose.
- 412:13-101 Application to existing foreign banks.
- 412:13-102 Definitions.
FOREIGN BANKS
- 412:13-200 Purpose.
- 412:13-201 Branches and agencies of foreign banks; necessity of licensure.
- 412:13-202 Application to establish and maintain a branch or agency; contents.
- 412:13-203 Application to establish and maintain a branch or agency; manner of filing and determination.
- 412:13-204 Denial of license.
- 412:13-205 Amended license to establish and maintain a branch or agency.
- 412:13-206 Application fees.
- 412:13-207 No concurrent maintenance of federal branches or agencies.
- 412:13-208 Powers of branch and agency.
- 412:13-209 Filing of amendments to articles of incorporation.
- 412:13-210 Separate assets.
- 412:13-211 Disclosure of lack of deposit insurance.
- 412:13-212 Limitations on payment of interest on deposits.
- 412:13-213 Pledge of assets.
- 412:13-214 Asset maintenance.
- 412:13-215 Representative office of foreign banks; necessity of licensure.
- 412:13-216 Representative office; application.
- 412:13-217 Representative office; factors for approval of application.
- 412:13-218 Representative office; permissible activities.
- 412:13-219 Posting of license.
- 412:13-220 Licenses not transferable.
- 412:13-221 Change of control of foreign bank.
- 412:13-222 Relocation of office; written application necessary.
- 412:13-223 Examination; payment of fees.
- 412:13-224 Supervision and enforcement.
- 412:13-225 Reports.
- 412:13-226 Books, accounts, and records.
- 412:13-227 Voluntary closure of branch, agency, or representative office; application.
- 412:13-228 Suspension or revocation of license; grounds; procedures.
- 412:13-229 Immediate suspension or revocation.
- 412:13-230 Seizure of foreign bank's property and business; liquidation.
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