(a) Every installment lender shall keep in a safe and secure place those books and records that directly relate to any installment loan made within the State, and other books and records as may be necessary for the commissioner to ensure full compliance with the laws of the State.
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Terms Used In Hawaii Revised Statutes 480J-15

  • Commissioner: means the commissioner of financial institutions. See Hawaii Revised Statutes 480J-1
  • Installment loan: means a loan made pursuant to this chapter. See Hawaii Revised Statutes 480J-1
  • lender: means any person who is in the business of offering or making a consumer loan, who arranges a consumer loan for a third party, or who acts as an agent for a third party, regardless of whether the third party is exempt from licensure under this chapter or whether approval, acceptance, or ratification by the third party is necessary to create a legal obligation for the third party, through any method including mail, telephone, the Internet, or any electronic means. See Hawaii Revised Statutes 480J-1
(b) All books and records may be maintained as originals or photocopies; on microfilm or microfiche; on computer disks, including related cloud storage devices, or tapes; or similar forms; provided that the books and records are readily accessible and may be easily examined.
(c) All records, statements, and reports required or authorized by this chapter shall be made in writing in the English language.
(d) Every lender shall preserve all of its records for a minimum of six years or for a period the commissioner may prescribe by rules adopted pursuant to chapter 91.

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