Hawaii Revised Statutes 412:2-505 – Waiver of statewide concentration limits under the Bank Holding Company Act of 1956, as amended
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Terms Used In Hawaii Revised Statutes 412:2-505
- Commissioner: means the commissioner of financial institutions of this State. See Hawaii Revised Statutes 412:1-109
- Company: means any corporation, partnership, trust (business or otherwise), association, joint venture, pool syndicate, unincorporated organization, or any form of business entity not specifically listed herein and, unless specifically excluded, a financial institution; provided that "company" does not mean any trust existing on July 1, 1993, which under its terms must terminate within twenty-five years, or not later than twenty-one years and ten months after the death of individuals living on the effective date of the trust. See Hawaii Revised Statutes 412:1-109
- Financial institution: means a Hawaii financial institution, and unless the context indicates otherwise, a federal financial institution or foreign financial institution. See Hawaii Revised Statutes 412:1-109
If the commissioner finds that waiver of the statewide concentration limits under section 3(d) of the Bank Holding Company Act of 1956, as amended, is necessary to prevent probable failure of the Hawaii financial institution, the commissioner shall have the power to issue a waiver of those statewide concentration limits.