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2013 Hawaii Revised Statutes
TITLE 22. BANKS AND FINANCIAL INSTITUTIONS
412. Code of Financial Institutions
412:5A-212 Improper discounting of loans.


HI Rev Stat § 412:5A-212 (2013) What's This?

Note

Part heading amended by L 1996, c 155, §4.

§412:5A-212 Improper discounting of loans. No officer, director, agent or employee of an international banking corporation shall directly or indirectly, as an individual, purchase any loan or other obligation at a discount, or make any loan using a receivable as collateral, when such person knows that the loan or other obligation has been offered to the corporation and has been refused. Any violation of this section shall subject the violator to a civil penalty equal to twice the amount of the consideration given for the loan. [L 1993, c 350, pt of §1]

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