Hawaii Revised Statutes 412:5A-202 – Majority ownership by bank
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Terms Used In Hawaii Revised Statutes 412:5A-202
- Capital: means :
(1) The aggregate par value or other amount received and allocated to the issued and outstanding capital stock of a financial institution; or
(2) The total amount of a credit union's outstanding and unimpaired membership shares or share accounts. See Hawaii Revised Statutes 412:1-109
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
- Subsidiary: means a corporation, joint venture, partnership, or other company that is controlled by another corporation. See Hawaii Revised Statutes 412:1-109
- this State: means the State of Hawaii, its political subdivisions, agencies, and departments. See Hawaii Revised Statutes 412:1-109
A majority of the shares of the capital stock of every international banking corporation shall be owned by a bank that is a Hawaii financial institution, a national bank whose operations are principally conducted in this State, or a wholly-owned subsidiary of either of the foregoing.