Chapter 207 — Chapter 207

PART I. HOME LOANS FOR LOW INCOME HOME BUYERS ON STATE LAND §207-1 Authorization for loans. The director of finance may grant loans as provided for in this part to persons leasing or purchasing state lands for their personal residential needs. Loans may be granted only to eligibl…

PART II. LOANS MADE BY FOREIGN LENDERS AND CERTAIN OTHER ACTIVITIES OF SUCH LENDERS §207-11 Definitions. As used in this part: "Employee benefit plan" means any plan, fund, or program which was heretofore or is hereafter established in and under the laws of a state other than Haw…

§207-12 Exemptions and immunities. A foreign lender that: does not by engaging in this State in any or all of the activities specified in section 207-13, violate the laws of this State relating to doing business or doing a banking, trust, or insurance business, or become subject …

§207-13 Permitted activities. The activities referred to in section 207-12 are:

§§207-14 and 207-15 REPEALED. L 1999, c 43, §§4, 5.

§207-16 Construction. Nothing in this part shall require any corporation to qualify to do business in this State, or subject any person, firm, corporation, or trust to taxation under any law of this State if, but for the enactment of this chapter, the person, firm, corporation, o…

§207-2 Qualifications for loans. To qualify for a loan under this part an applicant must:

§207-3 Purpose for and terms of loans. [(a)] Loans of state funds made pursuant to this part may be granted only for construction of residences upon the premises. Loans shall be secured by a mortgage which may be subordinate only to another mortgage given to a lending institution…

§207-4 Contract with lending institution. The director of finance may, and as far as practicable shall, contract with lending institutions for the processing of applications for loans of state funds and the servicing of these loans. The servicing shall be performed only by the le…

§207-5 Rules and regulations. The director of finance may adopt, amend, or repeal such rules and regulations governing the granting of loans and other related functions as the director of finance considers necessary or suitable. The rules and regulations when approved by the gove…

§207-6 Bond authorization. The director of finance may with the approval of the governor, issue from time to time general obligation bonds pursuant to chapter 39, part I not exceeding $500,000 for the granting of loans pursuant to the purposes of this part. [L 1961, c 194, §7; am…