Hawaii Revised Statutes 454F-1.6 – Presumption of control

An individual is presumed to control a mortgage loan originator company if that individual is:

(1) An executive officer; or

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Terms Used In Hawaii Revised Statutes 454F-1.6

Mortgage: The written agreement pledging property to a creditor as collateral for a loan.

(2) A director, general partner, or managing member who directly or indirectly has the right to vote ten per cent or more of a class of voting securities or has the power to sell or direct the sale of ten per cent or more of a class of voting securities of that licensee or applicant.

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Hawaii Revised Statutes 454F-1.6 – Presumption of control

Terms Used In Hawaii Revised Statutes 454F-1.6

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