STAND. COM. REP. NO. 2549

Honolulu, Hawaii

RE:    S.B. No. 2680

       S.D. 1

Honorable Ronald D. Kouchi

President of the Senate

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

Sir:

     Your Committee on Ways and Means, to which was referred S.B. No. 2680, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO FINANCIAL INSTITUTIONS,"

begs leave to report as follows:

     The purpose and intent of this measure is to clarify the fee payment process of the Department of Commerce and Consumer Affairs for financial institutions.

     Your Committee received testimony in support of this measure from the Department of Commerce and Consumer Affairs.

     Your Committee finds that this measure will clarify statutory provisions in the Code of Financial Institutions, especially with regard to the fee payment process, and thereby enhance the Division of Financial Institution's ability to collect fees consistent with the fee schedule.

     As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2680, S.D. 1, and recommends that it pass Third Reading.

Respectfully submitted on behalf of the members of the Committee on Ways and Means,

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JILL N. TOKUDA, Chair