§412:3-212 Final application for charter or license. (a) After completing its organization of the Hawaii financial institution, the applicant in organization may file with the commissioner an application for a charter or license to engage in the business of a Hawaii financial institution. The application shall be in a form prescribed by the commissioner and, unless waived by the commissioner, shall contain the following information:
(b) The commissioner shall review the application, may conduct an examination of the financial institution, and may interview any proposed director or executive officer.
(c) If the commissioner is satisfied that the financial institution and, if applicable, its holding company have fulfilled all the requirements of law and the grounds for preliminary approval, and that the financial institution is qualified to engage in the business of a financial institution, the commissioner shall issue a written decision and order approving the application. The order may restrict the payment of dividends for a period of up to three years, and may contain any other conditions and restrictions on the financial institution that are in the public interest, including but not limited to the divestment of any contractual arrangement with an affiliate or subsidiary involving any type of business not permitted under this chapter. Upon the satisfactory fulfillment by the financial institution and, if applicable, its holding company of the conditions in the written decision and order approving the application, the commissioner shall issue to the financial institution a charter or license to engage in the business of a financial institution under this chapter. [L 1993, c 350, pt of §1; am L 2006, c 228, §21; am L 2013, c 172, §14; am L 2016, c 149, §5]