Title 22, Banks And Financial Institutions

[§412:12-107] Powers; additional branches. (a) An out-of-state state bank which establishes and operates a branch in Hawaii under this article may conduct any activities at the branch that are authorized under the laws of this State for Hawaii state banks chartered under article …

§412:12-108 Examinations; periodic reports; cooperative agreements; assessment of fees. (a) To the extent consistent with subsection (c), the commissioner may examine any branch established and maintained in this State pursuant to this article by an out-of-state state bank as the…

[§412:12-109] Enforcement. If the commissioner determines that a branch maintained by an out-of-state state bank in this State is being operated in violation of any provision of the laws of this State, or that the branch is being operated in an unsafe and unsound manner, the comm…

[§412:12-110] Notice of subsequent merger, etc. Each out-of-state state bank that operates a branch in this State pursuant to this article, or the home state regulator of the bank, shall give at least thirty days' prior written notice (or, in the case of an emergency transaction,…

[ARTICLE 13.] THE HAWAII INTERNATIONAL BANKING ACT PART I. GENERAL [§412:13-100] Title and purpose. (a) This article shall be known and may be cited as the Hawaii International Banking Act. (b) This article is intended generally to provide for state regulation of the participatio…

[§412:13-101] Application to existing foreign banks. (a) The licenses of foreign banks to open and maintain agency offices and representative offices in this State which were granted before and which are in effect on June 1, 1997, are not invalidated by the enactment of this arti…

[§412:13-102] Definitions. As used in this article: "Affiliate" has the same meaning as set forth in section 2(k) of the Bank Holding Company Act (12 U.S.C. 1841(k)). "Agency", when used in reference to an office of a foreign bank, shall have the same meaning as is set forth in s…

PART II. DIRECT BRANCH, AGENCY, AND REPRESENTATIVE OFFICES OF FOREIGN BANKS [§412:13-200] Purpose. Consistent with the federal International Banking Act, the Bank Holding Company Act, the Federal Deposit Insurance Act, and the Interstate Banking and Branching Efficiency Act, this…

[§412:13-201] Branches and agencies of foreign banks; necessity of licensure. (a) No foreign bank shall transact business in this State except at a Hawaii state branch or Hawaii state agency which it is licensed to establish and maintain pursuant to, and at which it conducts the …

§412:13-202 Application to establish and maintain a branch or agency; contents. A foreign bank, in order to procure a license under this article to establish and maintain a Hawaii state branch or Hawaii state agency, shall submit an application to the commissioner, together with …

§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 commissi…

[§412:13-204] Denial of license. If the commissioner is not satisfied that the foreign bank meets all the criteria set forth for approval, the commissioner shall issue a written decision denying the application. A foreign bank which is denied approval may request a hearing before…

[§412:13-205] Amended license to establish and maintain a branch or agency. (a) A foreign bank that is licensed to establish and maintain a Hawaii state branch or Hawaii state agency shall secure an amended license if it changes its corporate name, changes the duration of its cor…

[§412:13-206] Application fees. Upon applying to the commissioner under this article for an initial license to establish and maintain a Hawaii state branch or Hawaii state agency, a foreign bank shall pay to the commissioner an application fee of $9,000 or a greater amount as the…

[§412:13-207] No concurrent maintenance of federal branches or agencies. (a) No foreign bank that is licensed under this article to establish and maintain a Hawaii state branch or Hawaii state agency shall concurrently maintain a federal branch or federal agency in this State. (b…

[§412:13-208] Powers of branch and agency. (a) Except as otherwise specifically provided in this article or in rules or orders adopted by the commissioner, and notwithstanding any other law or rule of this State to the contrary, operations of a foreign bank at a Hawaii state bran…

[§412:13-209] Filing of amendments to articles of incorporation. A foreign bank that is licensed to maintain a Hawaii state branch or Hawaii state agency, whenever its articles of incorporation are amended, shall forthwith file in the office of the commissioner a copy of the amen…

[§412:13-210] Separate assets. (a) Each foreign bank that is licensed to establish and maintain a Hawaii state branch or Hawaii state agency in this State shall keep the assets of its business in this State separate and apart from the assets of its business outside this State. (b…

[§412:13-211] Disclosure of lack of deposit insurance. Each foreign bank that is licensed to establish and maintain a Hawaii state branch or Hawaii state agency, in a manner established by the commissioner by rule or order, shall give notice that deposits and credit balances in t…

[§412:13-212] Limitations on payment of interest on deposits. A foreign bank that is licensed to establish and maintain a Hawaii state branch or Hawaii state agency shall be subject to the same limitations with respect to the payment of interest on deposits as a state bank that i…

[§412:13-213] Pledge of assets. (a) Each foreign bank that is licensed to establish and maintain a Hawaii state branch or Hawaii state agency shall keep on deposit $500,000 or any greater amount as the commissioner may prescribe by rule in unaffiliated Hawaii banks as have been s…

[§412:13-214] Asset maintenance. (a) Each foreign bank that is licensed to establish and maintain a Hawaii state branch or Hawaii state agency shall hold in this State currency, bonds, notes, debentures, drafts, bills of exchange, or other evidences of indebtedness, including loa…

[§412:13-215] Representative office of foreign banks; necessity of licensure. (a) No foreign bank shall establish or maintain a Hawaii representative office unless the foreign bank is licensed by the commissioner to maintain a Hawaii representative office. (b) Nothing in subsecti…

§412:13-216 Representative office; application. (a) The application for a license to establish and maintain a Hawaii representative office shall be in writing under oath and shall be in a form and contain any information as the commissioner may require by rule or order. The appli…

§412:13-217 Representative office; factors for approval of application. (a) The commissioner shall issue a license to a foreign bank to establish and maintain a Hawaii representative office if the commissioner finds that: (b) In considering whether the management of the foreign b…

[§412:13-218] Representative office; permissible activities. (a) A foreign bank which is licensed to establish and maintain a Hawaii representative office, subject to any rules as the commissioner may prescribe, may engage in the following activities: Any other activity which the…

[§412:13-219] Posting of license. Each foreign bank that is licensed to establish and maintain a Hawaii state branch, Hawaii state agency, or Hawaii representative office shall post its license in a conspicuous place at the office. [L 1996, c 155, pt of §2]

[§412:13-220] Licenses not transferable. No license issued by the commissioner in accordance with this article shall be transferable or assignable. [L 1996, c 155, pt of §2]

[§412:13-221] Change of control of foreign bank. A foreign bank that is licensed to establish and maintain a Hawaii state branch, Hawaii state agency, or Hawaii representative office shall file with the commissioner a notice, in a form and containing any information as the commis…

§412:13-222 Relocation of office; written application necessary. (a) No foreign bank that is licensed to establish and maintain a Hawaii state branch, Hawaii state agency, or Hawaii representative office shall relocate any Hawaii office without the commissioner's prior written ap…

[§412:13-223] Examination; payment of fees. (a) A Hawaii state branch, Hawaii state agency, or Hawaii representative office shall be subject to examination by the commissioner at intervals prescribed, and in accordance with, section 412:2-200. (b) In conducting an examination pur…

§412:13-224 Supervision and enforcement. (a) The commissioner shall have all of the powers granted to the commissioner by the laws of this State to the extent appropriate to enable the commissioner to supervise each Hawaii state branch, Hawaii state agency, or Hawaii representati…

[§412:13-225] Reports. (a) Each foreign bank that is licensed to establish and maintain a Hawaii state branch, Hawaii state agency, or Hawaii representative office shall file with the commissioner any reports the commissioner may require. (b) Each report filed with the commission…

[§412:13-226] Books, accounts, and records. Each foreign bank that is licensed to establish and maintain a Hawaii state branch, Hawaii state agency, or Hawaii representative office shall maintain or make available at any office appropriate books, accounts, and records reflecting:

[§412:13-227] Voluntary closure of branch, agency, or representative office; application. (a) No foreign bank that is licensed to establish and maintain a Hawaii state branch, Hawaii state agency, or Hawaii representative office shall close the office without filing an applicatio…

[§412:13-228] Suspension or revocation of license; grounds; procedures. (a) The commissioner may issue an order revoking a license of a foreign bank to establish and maintain a Hawaii representative office if the commissioner finds that: (b) The commissioner may issue an order su…

[§412:13-229] Immediate suspension or revocation. (a) If the commissioner finds that any of the factors set forth in section 412:13-228(b) are true with respect to any foreign bank that is licensed to maintain a Hawaii state branch or Hawaii state agency, and that it is necessary…

[§412:13-230] Seizure of foreign bank's property and business; liquidation. (a) If the commissioner finds that any of the factors set forth in section 412:13-228 are true with respect to any foreign bank that is licensed to establish and maintain a Hawaii state branch or Hawaii s…

PART III. HAWAII BRANCHES OF OUT-OF-STATE FOREIGN BANKS [§412:13-300] Purposes. This part is generally intended to ensure that interstate state branches of out-of-state foreign banks may be established and operated in this State:

[§412:13-301] Establishment of interstate branches in this State by out-of-state foreign banks. (a) Except as provided in subsection (b), an out-of-state foreign bank may establish an interstate Hawaii state branch in the same manner (including by merger or other transactions und…

[ARTICLE 14. MISCELLANEOUS PROVISIONS] [§412:14-100 Automated teller machine fees.] An owner or operator of an automated teller machine may assess a transaction fee on any person for use of that machine who uses a card or other access device for an account that is located within …

ARTICLE 2. DIVISION OF FINANCIAL INSTITUTIONS PART I. ADMINISTRATION §412:2-100 Commissioner of financial institutions; division of financial institutions. (a) The director of commerce and consumer affairs, with the approval of the governor, shall appoint the commissioner of fina…

[§412:2-100.5] Powers of the commissioner. In addition to any other powers provided by law, the commissioner shall have the authority to:

§412:2-101 Deputy commissioner, acting commissioner. The deputy commissioner shall have such duties as are assigned by the commissioner from time to time, and shall serve as acting commissioner whenever the commissioner is out of the State or is otherwise incapable of performing …

§412:2-102 Examiners and other personnel. The commissioner may hire as many examiners, professional employees and clerical personnel as the business of the division of financial institutions may require. The commissioner may also appoint an examiner knowledgeable in international…

§412:2-103 Disqualifications. No person shall be an examiner who is a director of or owner of any interest, or shares of stock, in any company that may be examined pursuant to this chapter. [L 1993, c 350, pt of §1]

§412:2-104 Confidentiality of information possessed by commissioner. (a) The commissioner and all employees, contractors, attorneys retained or employed by the State, and appointees of the division of financial institutions shall not divulge or furnish any information in their po…

§412:2-105 Fees. (a) The commissioner shall charge any financial institution examined by the commissioner or the commissioner's staff, an amount for travel, per diem, mileage, and other reasonable expenses incurred in connection with the examination. (b) The commissioner shall bi…

§412:2-105.2 Hawaii financial institutions; assessments; fees; penalty. (a) Beginning January 1, 2014, every Hawaii financial institution shall be assessed a yearly fee in accordance with the following: provided that the yearly fee assessed for financial institutions with total a…

§412:2-106 Public or private hearings. (a) All hearings before the commissioner shall be subject to chapter 91 and the rules adopted pursuant thereto, unless it is expressly provided otherwise in this chapter. (b) All actions of and proceedings before the commissioner under parts…