Hawaii Revised Statutes 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 5 of this chapter.

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Terms Used In Hawaii Revised Statutes 412:12-107

Bank: has the meaning set forth in 12 U. See Hawaii Revised Statutes 412:12-101
Branch: means a place of business of a bank, other than its main office, which is open to the public and at which deposits are received and paid. See Hawaii Revised Statutes 412:12-101
Commissioner: means the commissioner of financial institutions of this State. See Hawaii Revised Statutes 412:1-109
Federal: means belonging to, part of, or related to the government of the United States of America. See Hawaii Revised Statutes 412:1-109
Hawaii bank: means a bank whose home state is Hawaii. See Hawaii Revised Statutes 412:12-101
Hawaii state bank: means a bank chartered under the laws of Hawaii. See Hawaii Revised Statutes 412:12-101
Host state: means a state, other than the home state of a bank, in which the bank maintains, or seeks to establish and maintain a branch. See Hawaii Revised Statutes 412:12-101
Out-of-state bank: means a bank whose home state is a state other than Hawaii. See Hawaii Revised Statutes 412:12-101
this State: means the State of Hawaii, its political subdivisions, agencies, and departments. See Hawaii Revised Statutes 412:1-109

(b) A Hawaii state bank may conduct any activities at any branch outside Hawaii that are permissible for a bank chartered by the host state where the branch is located, except to the extent the activities are expressly prohibited by the laws of this State or by any rule or order of the commissioner applicable to the Hawaii state bank; provided that the commissioner may waive any prohibition if the commissioner determines, by order or rule, that the involvement of out-of-state branches of Hawaii state banks in particular activities would not threaten the safety or soundness of those banks.

(c) An out-of-state bank that has established or acquired a branch in Hawaii under this article may establish or acquire additional branches or other places of business as authorized pursuant to § 412:3-501 in Hawaii to the same extent that any Hawaii bank may establish or acquire a branch or other places of business in Hawaii under applicable federal and state law.

(d) If an out-of-state bank operates two or more branches in Hawaii, the out-of-state bank shall designate one of its branches as its principal office in this State.

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Hawaii Revised Statutes 412:12-107 – Powers; additional branches

Terms Used In Hawaii Revised Statutes 412:12-107

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