§412:3-507  Closing branch or agency; temporary closures.  (a)  A Hawaii financial institution shall give the commissioner prior notice of its intent to close any branch or agency at least thirty days prior to the closing.  The notice shall specify the intended date of closing, the reasons for the closing, and a certification by the secretary or other authorized officer of the institution that the decision to close was duly approved by its board of directors.  This notice may be satisfied by delivery to the commissioner of a copy of any notice pertaining to the closure given to the financial institution's appropriate federal regulatory agency.

     (b)  A Hawaii financial institution may temporarily close a branch or agency in the event of an emergency for a period of time up to one hundred eighty days, or a longer time period as determined necessary by the commissioner.  For purposes of this section, an emergency means a situation of an unusual or compelling urgency that creates a threat to life, public health, welfare, or safety by reason of major natural disaster, epidemic, riot, fire, or other reason as determined by the commissioner.  Written notice shall be provided to the commissioner upon closure as soon as practicable, and notice shall be provided to the Hawaii financial institution's customers in the form of a sign posted at the primary public entrance of the branch or agency.  The written notices shall state the reasons for the closure, the expected date of reopening, and information regarding where and how customers of the closed branch or agency will be accommodated during the temporary closure.  Notice of the reopening shall be provided to the commissioner within five days of the reopening. [L 1993, c 350, pt of §1; am L 2008, c 196, §5]