§412:3-112 Submissions to commissioner. (a) Every Hawaii financial institution, at its own expense, shall file the following written reports with the commissioner:
Each report shall be signed by an officer authorized by the institution's board of directors to sign the report, and shall contain a declaration of the officer's authority and a statement that the report is true and correct.
(b) Each wholly-owned subsidiary of a Hawaii financial institution whose assets constitute ten per cent or more of the consolidated assets of the Hawaii financial institution shall also submit separate unaudited financial statements meeting the requirements of subsections (a)(2)(A) or (B) as applicable, whether or not the financial institution prepares a consolidated financial statement.
(c) If the commissioner determines that any report is inadequate, the report shall be returned to the financial institution, with directions to rectify the inadequacies within the time specified by the commissioner, which shall not be longer than thirty days; provided that the commissioner may, for good cause shown, grant a reasonable extension of not more than forty-five days for making and filing such report.
(d) The commissioner may impose an administrative fine upon any financial institution failing to furnish any report or information as required under this section. The fine shall not exceed $1,000 for each day that the report is delinquent and shall be recovered pursuant to the provisions of section 412:2-609. [L 1993, c 350, pt of §1; am L 1994, c 107, §7; am L 1995, c 53, §1; am L 1996, c 207, §6; am L 1999, c 245, §4]