§412:13-203 Application to establish and maintain a branch or agency; manner of filing and determination. (a) A foreign bank making an application under this article for a license to establish and maintain a Hawaii state branch or Hawaii state agency shall deliver to the commissioner, together with the application, two copies of its charter or articles of incorporation and all amendments thereto, duly authenticated by the proper officer of the country of the foreign bank's organization, or a greater number of copies as the commissioner may require by rule. If the charter, articles of incorporation, or amendments are in a foreign language, two copies (or a greater number of copies as the commissioner may require by rule) of an English translation of the documents under the oath of the translator shall accompany the charter, articles of incorporation, or amendments.
(b) The commissioner shall issue a license to a foreign bank to establish and maintain a Hawaii state branch or Hawaii state agency if the commissioner finds that:
(c) In considering whether a foreign bank is in sound financial condition for the purposes of subsection (b), the commissioner may consider the length of time the foreign bank has engaged in the banking business, the asset size of the bank, and any other criteria which the commissioner deems relevant. The commissioner may presume, in the absence of creditable evidence to the contrary, that a foreign bank that has total assets having an aggregate value in United States currency of $10,000,000,000 or more and that has engaged in the banking business for at least ten years prior to filing an application pursuant to this article is in sound financial condition.
(d) In considering whether the management of the foreign bank and the proposed management of the Hawaii state branch or Hawaii state agency is of good moral character for the purposes of subsection (b), the commissioner may presume that in the absence of creditable evidence to the contrary, the management is of good moral character. The presumption may be rebutted by evidence to the contrary, including, but not limited to a finding that a person has:
(e) If the commissioner approves the application of the foreign bank for a license to establish and maintain a Hawaii state branch or Hawaii state agency, the foreign bank shall then provide satisfactory evidence to the commissioner of compliance with the requirements of chapter 414 relating to foreign corporations, if applicable. The commissioner shall then issue a license to establish and maintain a Hawaii state branch or Hawaii state agency to the foreign bank.
(f) Each license issued to a foreign bank to establish and maintain a Hawaii state branch or Hawaii state agency shall state fully the name of the foreign bank to which the license is issued, and any other information as the commissioner may require.
(g) The commissioner may waive some of the requirements, procedures, and standards applicable to applications to establish additional intrastate Hawaii state branches or Hawaii state agencies if the foreign bank has already established an initial Hawaii state branch or Hawaii state agency.
(h) If a foreign bank operates two or more Hawaii state branches or Hawaii state agencies, the foreign bank shall designate one of the offices as its principal office in this State. [L 1996, c 155, pt of §2; am L 2001, c 170, §§15, 16; am L 2002, c 40, §37]