ARTICLE 1. GENERAL PROVISIONS

Section

412:1-100 Short title

412:1-101 Purpose

412:1-102 Scope and application of chapter

412:1-103 Application to existing financial institutions

412:1-104 Names

412:1-105 Deposits

412:1-106 Headings; references

412:1-107 Particular provisions prevail

412:1-108 Jurisdiction conferred upon circuit court

412:1-109 Definitions

ARTICLE 2. DIVISION OF FINANCIAL INSTITUTIONS

Part I. Administration

412:2-100 Commissioner of financial institutions; division of

financial institutions

412:2-101 Deputy commissioner, acting commissioner

412:2-102 Examiners and other personnel

412:2-103 Disqualifications

412:2-104 Confidentiality of information possessed by

commissioner

412:2-105 Fees and assessments

412:2-106 Public or private hearings

412:2-107 Rules

412:2-108 Alternative mortgage loans rules

412:2-109 Compliance resolution fund; financial institution

examiners

412:2-110 Emergency applications

412:2-111 Commissioner's power to subpoena

Part II. Examinations

412:2-200 Examinations

412:2-201 Use of federal examinations

Part III. Enforcement Actions

412:2-300 Enforcement actions

412:2-301 Joint enforcement with federal regulatory agency

412:2-302 Cease and desist orders; grounds for issuance

412:2-303 Permanent cease and desist orders; procedure;

hearing; enforcement

412:2-304 Temporary cease and desist orders; effective date;

hearing; enforcement

412:2-305 Consent cease and desist orders

412:2-306 Removal or prohibition of institution-affiliated

party; grounds

412:2-307 Removal or prohibition of institution-affiliated

party; procedure; hearing; enforcement

412:2-308 Order of immediate suspension; procedure; effective

date; hearing; enforcement

412:2-309 Consent order of removal or prohibition

412:2-310 Removal, prohibition, or suspension; effect of order

412:2-311 Suspension or revocation of charter or license

412:2-312 Suspension or revocation; procedure; hearing;

enforcement

412:2-313 Consent suspension and revocation order

412:2-314 Action to correct capital and surplus impairment

412:2-315 National or state emergencies

Part IV. Conservators and Receivers

412:2-400 Grounds for appointment of conservator or receiver

412:2-401 Appointment of conservator or receiver; judicial

review

412:2-402 Additional grounds for appointment

412:2-403 Who may serve as conservator or receiver

412:2-404 Federal insurer as conservator or receiver;

subrogation

412:2-405 Removal or replacement of conservator or receiver

412:2-406 Compensation and expenses of conservator or receiver

412:2-407 Stay of judicial proceedings

412:2-408 Duties and powers of conservator

412:2-409 Conservator's segregation of deposits

412:2-410 Supervised reorganization

412:2-411 Termination of conservatorship

412:2-412 Duties and powers of receiver

412:2-413 No interest on deposits of an institution in

receivership

412:2-414 Optional court supervision

412:2-415 Notice of receivership; filing of claims

412:2-416 Liquidation by receiver; priority of claims

412:2-417 Final accounting and discharge

412:2-418 Transfer of assets in contemplation of

insolvency void

412:2-419 Treatment of lessors

412:2-420 Claims for wrongful termination of employment

412:2-421 Bailments and safe deposit boxes in receivership

Part V. Supervised Acquisition of Financial

Institutions

412:2-500 Definitions

412:2-501 Commissioner's determination of failing institution

412:2-502 Solicitation of purchasers

412:2-503 Applications to purchase

412:2-504 Granting of application; criteria for approval

412:2-505 Waiver of statewide concentration limits under

the Bank Holding Company Act of 1956, as amended

412:2-506 Charter or license

412:2-507 Expedited approvals

412:2-508 Provisional approval to organize

412:2-509 Effect of merger or acquisition on prior business,

title and obligations

412:2-510 Commissioner's powers

412:2-511 Modification of time periods

412:2-512 Repealed

Part VI. Penalties, Administrative Fines and

Prohibited Acts

412:2-600 Applicability of part

412:2-601 Violation of chapter

412:2-602 Copying records of Hawaii financial institutions

412:2-603 Disclosures of records of Hawaii financial

institutions

412:2-604 Concealment

412:2-605 Repealed

412:2-606 Witness; failure to testify or produce records

412:2-607 Deception; false statements

412:2-608 Misapplication of funds

412:2-609 Imposition of administrative fines; assessment

412:2-609.5 Imposition of administrative fines on persons who

are not Hawaii financial institutions; assessment

412:2-610 Compromise or modification of administrative fines;

determining amount of fine; hearing

412:2-611 Action to recover administrative fines; deposit to

compliance resolution fund

ARTICLE 3. ORGANIZATION AND MANAGEMENT OF FINANCIAL

INSTITUTIONS

Part I. General Provisions

412:3-100 Applicability of this part

412:3-101 Name of financial institution

412:3-102 Change of name

412:3-103 Amendments to articles and bylaws

412:3-104 Qualifications of directors

412:3-105 Election and appointment of executive officers

412:3-106 Residency of chief executive officer

412:3-107 Meetings of the board

412:3-108 Generally accepted accounting principles

412:3-109 Charging down assets

412:3-110 Holding of assets

412:3-111 Maintenance of books and records

412:3-112 Submissions to commissioner

412:3-113 Availability of statement of assets and liabilities

412:3-114 Duty to report illegal acts

412:3-115 Access to safety deposit box

Part II. Organization of Banks, Savings Banks,

Savings and Loan Associations, Trust

Companies and Depository Financial

Services Loan Companies

412:3-200 Applicability of part

412:3-201 Application for preliminary approval to organize

financial institution

412:3-202 Additional requirements for holding company

412:3-203 Deferral of application requirements

412:3-204 Publication of notice

412:3-205 Informational and comment proceeding on application

412:3-206 Grant of preliminary approval to organize a

financial institution

412:3-207 Denial of preliminary approval to organize

412:3-208 Approval of articles and bylaws

412:3-209 Paid-in capital and surplus

412:3-210 Approval of capital stock solicitation

412:3-211 Time limit to complete organization

412:3-212 Final application for charter or license

412:3-213 Denial of charter or license

Part III. Organization of Nondepository

Financial Services Loan Companies

412:3-300 Applicability of part

412:3-301 Application for license

412:3-302 Publication of notice

412:3-303 Informational and comment proceeding

412:3-304 Grant of approval

412:3-305 Denial of license

412:3-306 Paid-in capital and surplus

Part IV. Management of Stock Financial Institutions

412:3-400 Applicability of part

412:3-401 Applicability of Hawaii Business Corporation Act

412:3-402 Capital stock

412:3-403 Dividends and other capital distributions

Part V. Places of Business

412:3-500 Prohibition of business at unauthorized locations

412:3-501 Authorized places of business

412:3-502 Foreign financial institution

412:3-503 Opening or relocating principal office, branch,

or agency

412:3-504 Notice and deadline for opening or relocating

principal office, branch, or agency

412:3-505 Opening or relocating out-of-state branch or agency

412:3-506 Opening or relocating automatic teller machine or

support facility

412:3-507 Closing branch or agency

412:3-508 Closing automatic teller machine or support facility

412:3-509 Out-of-state branch or agency

Part VI. Conversions, Mergers, Consolidations,

Acquisitions, Assumptions, and Voluntary

Dissolutions

412:3-600 Applicability of this part

412:3-601 No conversions, mergers, consolidations,

acquisitions, assumptions, voluntary cessations of

business, or voluntary dissolutions except pursuant

to this part

412:3-602 Definitions

412:3-603 Procedure for applications pursuant to this part

412:3-604 Shareholder or member vote

412:3-605 Notice to mutual savings and loan or credit union

member; no right of dissent

412:3-606 Conversion from State to comparable federal

financial institution

412:3-607 Conversion from federal to comparable Hawaii

financial institution

412:3-608 Conversion to another type of financial institution

412:3-609 Merger or consolidation of Hawaii financial

institutions

412:3-610 Effect of conversion, merger, or consolidation

412:3-611 Merger or consolidation of financial institution

holding companies

412:3-612 Acquisition of control of financial institution

or financial institution holding company

412:3-613 Sale or acquisition of assets and transfer or

assumption of liabilities

412:3-614 Sale or transfer of charter or license prohibited

412:3-615 Nonconforming assets or business

412:3-616 Authority for expedited conversion, merger,

consolidation, acquisition, or assumption

412:3-617 Voluntary cessation of business; dissolution

412:3-618 Injunctions

ARTICLE 4. DEPOSITS IN FINANCIAL INSTITUTIONS GENERALLY

412:4-100 Law applicable

412:4-101 Forms of deposit

412:4-102 Deposit account statements

412:4-103 Statements presumed correct after one year; statute

of limitations

412:4-104 Federal deposit insurance required

412:4-105 Accounts held in more than one name

412:4-106 Fiduciary accounts

412:4-107 Accounts of minors

412:4-108 No notice of incapacity

412:4-109 Checks drawn or transfers or withdrawals made by

authorized persons

412:4-110 Checks drawn or transfers or withdrawals made by

intoxicated persons

412:4-111 Accounts of deceased nonresidents

412:4-112 Pledging of assets

ARTICLE 5. BANKS

Part I. General Provisions

412:5-100 Definition

412:5-101 Necessity for bank charter

Part II. Powers of Banks

412:5-200 General powers

412:5-201 Powers granted under federal law

412:5-202 Membership in federal banks

412:5-203 Operating subsidiaries

412:5-204 Acceptances of drafts and bills of exchange

412:5-205 Authority to engage in trust business

412:5-205.5 Insurance and annuities powers

412:5-205.6 Requirements of banks engaging in insurance

activities

412:5-205.7 Securities powers

412:5-206 International banking facilities

Part III. Loans and Investments

412:5-300 Applicability of part

412:5-301 General requirements for loans

412:5-302 Limitations on loans and extensions of credit to

one borrower

412:5-303 Loans to executive officers, directors, principal

shareholders and affiliates

412:5-304 General requirement for investments

412:5-305 Permitted investments

412:5-306 Deposits made by banks

Part IV. Intra-Pacific Banks

412:5-400 Definitions

412:5-401 Required approval

412:5-402 Procedure to obtain approval

412:5-403 Examination and regulation

412:5-404 Termination of authority of intra-Pacific bank

412:5-405 Termination of authority of intra-Pacific bank

holding company

412:5-406 Paid-in capital and surplus

412:5-407 Same powers and duties as banks

ARTICLE 5A. INTERNATIONAL BANKING CORPORATIONS

Part I. General Provision

412:5A-100 Applicability of other provisions of this chapter

Part II. Application Procedures and Powers

412:5A-200 Scope and definitions

412:5A-201 Application; fee; approval

412:5A-202 Majority ownership by bank

412:5A-203 Paid-in capital and surplus

412:5A-204 Prohibition of business in United States

412:5A-205 Powers and duties

412:5A-206 Acceptance of deposits and reserves

412:5A-207 Deposit of corporate funds

412:5A-208 Limitation on investments

412:5A-209 Acquisition of stock in competing corporation

412:5A-210 Acquisition of stock to save a loss

412:5A-211 Prohibited corporate activities

412:5A-212 Improper discounting of loans

412:5A-213 Improper fixing of commodity prices

412:5A-214 Misrepresentation of state liability for bonds

Part III. Foreign Bank Offices and Agencies--Repealed

412:5A-300 to 316 Repealed

ARTICLE 6. SAVINGS BANKS

Part I. General Provisions

412:6-100 Definition

412:6-101 Necessity for savings bank charter

Part II. Powers of Savings Banks

412:6-200 General powers

412:6-201 Powers granted under federal law

412:6-202 Membership in federal home loan bank

412:6-203 Service corporations

412:6-204 Operating subsidiaries

Part III. Loans and Investments

412:6-300 Applicability of part

412:6-301 General requirements for loans

412:6-302 Requirements and limits for certain loans

412:6-303 Limitations on loans and extensions of credit to one

borrower

412:6-304 Loans and extensions of credit to executive

officers, directors, principal shareholders and

affiliates

412:6-305 General requirement for investments

412:6-306 Permitted investments

412:6-307 Deposits made by savings banks

ARTICLE 7. SAVINGS AND LOAN ASSOCIATIONS

Part I. General Provisions

412:7-100 Definition

412:7-101 Necessity for savings and loan association charter

Part II. Powers of Savings and Loan Associations

412:7-200 General powers

412:7-201 Powers granted under federal law

412:7-202 Membership in federal home loan bank

412:7-203 Service corporations

412:7-204 Operating subsidiaries

Part III. Loans and Investments

412:7-300 Applicability of part

412:7-301 General requirements for loans

412:7-302 Requirements and limits for certain loans

412:7-303 Limitations on loans and extensions of credit to one

borrower

412:7-304 Loans and extensions of credit to executive

officers, directors, principal shareholders and

affiliates

412:7-305 General requirement for investments

412:7-306 Permitted investments

412:7-307 Deposits made by savings and loan associations

Part IV. Management of Mutual Savings and Loan

Associations

412:7-400 Applicability of part

412:7-401 "Mutual savings and loan association" defined

412:7-402 No further mutual savings and loan associations;

applicability of chapter

412:7-403 General applicability of laws

412:7-404 Articles of association; bylaws

412:7-405 Membership

412:7-406 Meetings

412:7-407 Voting

412:7-408 Conversion to stock form

ARTICLE 8. TRUST COMPANIES

Part I. General Provisions

412:8-100 Applicability of article

412:8-101 Definitions

412:8-102 Necessity for trust company charter

412:8-103 Authority to serve as trustee

Part II. Powers of Trust Companies

412:8-200 General powers

412:8-201 Fiduciary powers

412:8-202 Acting as agent

412:8-203 Use of nominees

412:8-204 Agreement between trust companies and banks

Part III. Investment of Trust Company Assets

412:8-300 Applicability of part

412:8-301 Permitted investments of capital and surplus

412:8-302 Deposits made by trust companies

Part IV. Investment of Fiduciary Assets

412:8-400 General requirements

412:8-401 Trust funds awaiting investment

412:8-402 Common trust fund investments

412:8-403 Disclosure of fees

ARTICLE 9. FINANCIAL SERVICES LOAN COMPANIES

Part I. General Provisions

412:9-100 Definitions

412:9-101 Necessity for financial services loan company

license

412:9-102 Annual license fee

Part II. Powers of Financial Services Loan Companies

412:9-200 General powers

412:9-201 Powers that require regulatory approval

412:9-202 Prohibitions

Part III. Loans and Extensions of Credit

412:9-300 General requirements for loans and extensions

of credit

412:9-301 Interest computation methods

412:9-302 Interest rates

412:9-303 Effect of excessive interest

412:9-304 Consumer loan charges

412:9-305 Open-end consumer loans

412:9-306 Refunds on prepayment of a precomputed loan

412:9-307 Fraction of a month

412:9-308 Repayment terms

412:9-309 Assignments, sale or pledge of loans

Part IV. Depository Financial Services Loan Companies

412:9-400 Special powers of a depository financial services

loan company

412:9-401 Required reserve for a depository financial services

loan company

412:9-402 Membership in federal home loan bank

412:9-403 Service corporations

412:9-404 Limitation on loans and extensions of credit to one

borrower

412:9-405 Loans and extensions of credit fully secured by real

property

412:9-406 Repealed

412:9-407 Limits on transactions with affiliates, executive

officers, directors or principal shareholders

412:9-408 General requirement for investments

412:9-409 Permitted investments

412:9-410 Deposits made by depository financial services loan

companies

Part V. Nondepository Financial Services Loan

Companies

412:9-500 Prohibitions

ARTICLE 10. CREDIT UNIONS

Part I. General Provisions

412:10-100 Definitions

412:10-101 Necessity for credit union charter

412:10-102 Capital stock or surplus

412:10-103 Application for charter

412:10-104 Articles and bylaws

412:10-105 Disclosure of information

412:10-106 Deposit and share insurance

412:10-107 Grant of approval

412:10-108 Denial of charter

412:10-109 Membership

412:10-110 Membership meetings

412:10-111 Voting

412:10-112 Board of directors

412:10-113 No compensation of directors or committee members

412:10-114 Credit committee

412:10-115 Credit manager

412:10-116 Loan officers

412:10-117 Supervisory committee

412:10-118 Record of officials

412:10-119 Conflicts of interest

412:10-120 Suspension or removal of officials

412:10-121 Central credit unions

412:10-122 Taxation

412:10-123 Fiscal year

412:10-124 Conducting business outside this State

412:10-125 Credit union advisory board

Part II. Powers of Credit Unions

412:10-200 General powers

412:10-201 Powers granted under federal law

412:10-202 Credit union service organizations

412:10-203 Sale or purchase of obligations or notes

412:10-204 Sale or purchase of assets

Part III. Accounts

412:10-300 Applicability of other provisions of this chapter

412:10-301 Share accounts and membership shares

412:10-302 Dividends

412:10-303 Deposit accounts

412:10-304 Withdrawals

412:10-305 Minor accounts

412:10-306 Joint accounts

412:10-307 Trust accounts

412:10-308 Payable-on-death accounts

412:10-309 Liens

412:10-310 Dormant accounts

Part IV. Loans

412:10-400 Applicability of part

412:10-401 General requirements for loans

412:10-402 Loans to members

412:10-403 Interest rates

412:10-404 Other charges

412:10-405 Applications

412:10-406 Prepayment of loan

412:10-407 Limitations on obligations of one borrower

412:10-408 Loans to officials

412:10-409 Real estate mortgage loans

412:10-410 Lines of credit

412:10-411 Loans to other credit unions

412:10-412 Participation loans

412:10-413 Other loan programs

Part V. Investments

412:10-500 Applicability of part

412:10-501 General requirement for investments

412:10-502 Permitted investments

412:10-503 Deposits made by credit unions

Part VI. Reserve Allocations

412:10-600 Regular reserve

412:10-601 Special reserves

412:10-602 Risk assets

Part VII. Other Member Services

412:10-700 Insurance for members

412:10-701 Liability insurance for officers

412:10-702 Group purchasing

412:10-703 Money-type instruments

412:10-704 Retirement accounts

Part VIII. Corporate Credit Union

412:10-800 Application of part

412:10-801 Purposes

412:10-802 Membership

412:10-803 Organization

412:10-804 Management and operation of corporate credit union

412:10-805 Powers

412:10-806 Participation in central system

412:10-807 Collection on loans to members

412:10-808 Meetings

ARTICLE 11. FINANCIAL INSTITUTION HOLDING COMPANIES

412:11-100 Applicability of article

412:11-101 Registration and reporting of financial institution

holding companies

412:11-102 Examination of financial institution holding company

412:11-103 Use of federal examinations

412:11-104 Service of process

412:11-105 Sanctions for failure to register or submit reports

412:11-106 Injunctions

ARTICLE 12. INTERSTATE BRANCHING AND BANK MERGERS

412:12-100 Purpose

412:12-101 Definitions

412:12-102 Authority of Hawaii state banks to establish

interstate branches by merger

412:12-103 Authority of Hawaii state banks to establish a de

novo interstate branch or acquire an interstate

branch

412:12-104 Authority of out-of-state banks to establish

interstate branches in Hawaii by merger

412:12-105 Authority of out-of-state banks to establish a de

novo interstate branch or acquire an interstate

branch

412:12-106 No concentration limit under Hawaii state law;

waiver of federal concentration limits

412:12-107 Powers; additional branches

412:12-108 Examinations; periodic reports; cooperative

agreements; assessment of fees

412:12-109 Enforcement

412:12-110 Notice of subsequent merger, etc.

ARTICLE 13. THE HAWAII INTERNATIONAL BANKING ACT

Part I. General

412:13-100 Title and purpose

412:13-101 Application to existing foreign banks

412:13-102 Definitions

Part II. Direct Branch, Agency, and Representative

Offices of Foreign Banks

412:13-200 Purpose

412:13-201 Branches and agencies of foreign banks; necessity of

licensure

412:13-202 Application to establish and maintain a branch or

agency; contents

412:13-203 Application to establish and maintain a branch or

agency; manner of filing and determination

412:13-204 Denial of license

412:13-205 Amended license to establish and maintain a branch

or agency

412:13-206 Application fees

412:13-207 No concurrent maintenance of federal branches or

agencies

412:13-208 Powers of branch and agency

412:13-209 Filing of amendments to articles of incorporation

412:13-210 Separate assets

412:13-211 Disclosure of lack of deposit insurance

412:13-212 Limitations on payment of interest on deposits

412:13-213 Pledge of assets

412:13-214 Asset maintenance

412:13-215 Representative office of foreign banks; necessity of

licensure

412:13-216 Representative office; application

412:13-217 Representative office; factors for approval of

application

412:13-218 Representative office; permissible activities

412:13-219 Posting of license

412:13-220 Licenses not transferable

412:13-221 Change of control of foreign bank

412:13-222 Relocation of office; written application necessary

412:13-223 Examination; payment of fees

412:13-224 Supervision and enforcement

412:13-225 Reports

412:13-226 Books, accounts, and records

412:13-227 Voluntary closure of branch, agency, or

representative office; application

412:13-228 Suspension or revocation of license; grounds;

procedures

412:13-229 Immediate suspension or revocation

412:13-230 Seizure of foreign bank's property and business;

liquidation

Part III. Hawaii Branches of Out-of-State Foreign Banks

412:13-300 Purposes

412:13-301 Establishment of interstate branches in this State

by out-of-state foreign banks