§412:3-201 Application for preliminary approval to organize a financial institution. (a) Three or more individuals, of whom at least three are residents of the State, or any company that seeks to become a financial institution holding company may file an application with the commissioner for preliminary approval to organize a Hawaii financial institution under this part. Banks seeking authority to engage in the trust business through a division or department of the bank, or through a subsidiary, shall apply for such authority under section 412:5-205.
(b) The application shall contain the following information, unless waived by the commissioner:
(c) The application shall be submitted in a form prescribed by the commissioner. The commissioner may accept application forms that are utilized by any federal regulatory agency in processing similar applications. The application shall be accompanied by an application fee assessed pursuant to section 412:2-105.2. The application fee shall not be refundable.
(d) The identity of each applicant and organizer, and any information that is not confidential, shall be available to the public. The applicant may request in writing that information be kept confidential. The applicant shall designate and separate any matter that the applicant claims is confidential and shall submit a separate statement providing the reasons and authority for the request for confidential treatment. The failure by the applicant to request confidential treatment and to designate and separate the confidential matter shall preclude any objection or claim for wrongful disclosure of the information. Information determined by the commissioner to be confidential, pursuant to an applicant's request or otherwise, shall not be available to the public.
(e) The commissioner shall review the application, may conduct an examination of the proposed financial institution, and may interview any proposed director or executive officer. [L 1993, c 350, pt of §1; am L 2006, c 228, §15; am L 2007, c 9, §14; am L 2008, c 196, §3; am L 2016, c 149, §4]