The activities referred to in § 207-12 are:

(1) Making loans;
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Terms Used In Hawaii Revised Statutes 207-13

  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Foreign lender: means :

    (1) "A depository institution" as defined in section 501(a)(2) of the federal Depository Institutions Deregulation and Monetary Control Act of 1980, a "real estate investment trust" as defined in the Internal Revenue Code, an insurance company, the principal office of which is in another state, whether incorporated or unincorporated and whether acting in its individual capacity or in a fiduciary capacity;

    (2) The trustee or trustees from time to time in office of any employee benefit plan;

    (3) A lender approved by the Secretary of the United States Department of Housing and Urban Development for participation in any mortgage insurance program under the National Housing Act;

    (4) Any corporation of which all of the capital stock (except the directors' qualifying shares) is owned by one or more foreign lenders specified in paragraphs (1), (2), and (3); and

    (5) Any corporation of which all of the capital stock (except for the directors' qualifying shares) is owned by one or more foreign lenders specified in paragraph (4);

    provided that the term "foreign lender" does not include any financial services loan company licensed under article 9 of chapter 412. See Hawaii Revised Statutes 207-11

  • Loans: means obligations secured by liens upon real property, or any interest in real property, situated in this State, which liens may also cover such personal property as is or may from time to time be affixed or attached to or located on or in or about the real property or any improvements thereon or thereto, and include obligations secured by liens upon real property or interests therein situated both within and without this State. See Hawaii Revised Statutes 207-11
  • State: means any of the United States, the District of Columbia, Guam, the Commonwealth of Puerto Rico, and Virgin Islands. See Hawaii Revised Statutes 207-11
(2) Receiving security for loans;
(3) Acquiring, by assignment or otherwise, partial or entire interests in loans or in security for loans;
(4) Servicing (but servicing only by or through individuals who are residents of, or corporations doing business in, this State), collecting, enforcing, or otherwise realizing upon loans or upon security for loans or upon interests therein; and taking, holding, and disposing of any property acquired (whether by purchase at any sale pursuant to foreclosure by suit or foreclosure under power of sale, or by foreclosure by entry, or by conveyance in lieu of foreclosure) in enforcement of the rights of the foreign lender in the event of default by any borrower; and
(5) Empowering agents and servants or in connection with, and entering into and performing contracts, and doing other acts and things necessary or appropriate for or preliminary or incident to, any of the foregoing activities, but not maintaining any office in this State for the conduct of any such activities.

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