reglab/housing_qa huggingface dataset:
HI Rev Stat § 412:9-405 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:9-405 Loans and extensions of credit fully secured by real property.

 §412:9-405 Loans and extensions of credit fully secured by real property. (a) For loans and extensions of credit fully secured by real property other than unimproved raw land, a depository financial services loan company may advance, directly or indirectly, up to and including ninety-five per cent of the appraised value or real property evaluation required under the Federal Deposit Insurance Act and the rules and regulations of the Federal Deposit Insurance Corporation of the real property securing the loan and extension of credit. The principal amount of the loan and extension of credit shall be added together with the outstanding balances of all prior liens on the real property to determine the ninety-five per cent loan-to-value ratio.  (b) For loans and extensions of credit fully secured by mortgages on unimproved raw land, the maximum loan-to-value ratio shall not exceed seventy per cent of the appraised value or real property evaluation required under the Federal Deposit Insurance Act and the rules and regulations of the Federal Deposit Insurance Corporation of the unimproved raw land. Parcels of land with direct access by road and served by electric power shall not be deemed unimproved raw land.  (c) Notwithstanding the provisions of subsections (a) and (b), depository financial services loan companies, which make loans fully secured by real property in excess of twenty per cent of their capital and surplus, shall obtain appraisals of the real property securing those loans. [L 1993, c 350, pt of §1; am L 1995, c 17, §1]
HI Rev Stat § 412:9-406 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:9-406 REPEALED.

  §412:9-406 REPEALED. L 1995, c 17, §2.
HI Rev Stat § 412:9-407 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:9-407 Limits on transactions with affiliates, executive officers, directors or principal shareholders.

 §412:9-407 Limits on transactions with affiliates, executive officers, directors or principal shareholders. No depository financial services loan company shall make any loan and extension of credit or engage in any transaction in violation of section 18j of the Federal Deposit Insurance Act, 12 U.S.C. §1828(j) or sections 22(g), 22(h), 23A or 23B of the Federal Reserve Act, 12 U.S.C. § §375a, 375b, 371c and 371c-1. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:9-408 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:9-408 General requirement for investments.

 §412:9-408 General requirement for investments. (a) A depository financial services loan company shall make investments that are consistent with prudent banking practices and in compliance with all applicable federal and state law.  (b) The board of directors of a depository financial services loan company and any other person charged with the responsibility of investing the depository financial services loan company's assets shall exercise such reasonable diligence, discretion, judgment, and intelligence as would be expected of a prudent investor. Among other things, they shall not engage in speculative or unsound investments, and they shall at all times consider the probable safety as well as the probable income of the capital being invested.  (c) The board of directors shall establish written investment policies. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:9-410 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:9-410 Deposits made by depository financial services loan companies.

 §412:9-410 Deposits made by depository financial services loan companies. A depository financial services loan company may deposit any of its funds with:  (1) A Federal Reserve Bank or a Federal Home Loan Bank in any amount; or  (2) Another depository institution; provided that the deposits in any one depository institution do not exceed twenty-five per cent of the depository financial services loan company's capital and surplus, unless otherwise permitted by federal law. [L 1993, c 350, pt of §1; am L 1994, c 107, §17]
HI Rev Stat § 412:9-500 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:9-500 Prohibitions.

  §412:9-500 Prohibitions. Except as otherwise expressly authorized by this chapter or other law, a nondepository financial services loan company shall not solicit, accept, or hold deposits, investment certificates, thrift certificates, or other accounts or instruments identical or similar to a deposit account, nor shall it borrow money in the form of, or issue, promissory notes, debentures, bonds, or other obligations to the public; provided that a nondepository financial services loan company may borrow funds from, and issue its notes, debentures, bonds, or other obligations to financial institutions and other institutional lenders and not more than twenty-five institution-affiliated parties at any one time. [L 1993, c 350, pt of §1; am L 1996, c 9, §3]
HI Rev Stat § 412:9-501 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:9-501 Registration of nondepository financial services loan companies with NMLS.

  §412:9-501 Registration of nondepository financial services loan companies with NMLS. (a) A nondepository financial services loan company licensed under this chapter is not a mortgage loan originator company as defined in section 454F-1.  (b) A nondepository financial services loan company shall register with NMLS if any employee of the nondepository financial services loan company acts as a mortgage loan originator as defined in section 454F-1 or if the nondepository financial services loan company uses the services of an exclusive independent contractor mortgage loan originator, or loan processor or underwriter, as defined in chapter 454F.  (c) This section does not exempt an employee of a nondepository financial services loan company who originates mortgage loans, or an independent contractor providing mortgage loan originating, processing, or underwriting services to a nondepository financial services loan company, from licensure under chapter 454F. [L 2010, c 84, §2; am L 2013, c 168, § §1, 20]
HI Rev Stat § 412:10-101 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-101 Necessity for credit union charter.

 §412:10-101 Necessity for credit union charter. Except as expressly permitted by federal law or this chapter, no person shall engage in the business of a credit union, represent itself as a credit union, use a name or title containing the phrase "credit union" or any derivation thereof, or control any other person engaging in the business of a credit union. [L 1993, c 350, pt of §1; am L 2002, c 40, §33]
HI Rev Stat § 412:10-102 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-102 Capital stock or surplus.

 §412:10-102 Capital stock or surplus. A credit union shall have no capital stock, and shall have no minimum paid-in capital or surplus requirement. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-103 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-103 Application for charter.

 §412:10-103 Application for charter. (a) Five or more residents of this State who share a common bond may file an application with the commissioner to engage in the business of a credit union.  (b) The application shall contain the following information, unless waived by the commissioner:  (1) The proposed name of the credit union;  (2) Proposed lease agreements for its principal office;  (3) The territory in which the proposed credit union will operate;  (4) A business plan;  (5) Employment history, education, management experience, and other biographical information for all original chartering applicants, and proposed executive officers of the credit union;  (6) Proposed policies regarding loans, investments, operations, accounting, recordkeeping, and applicable federal and state consumer laws;  (7) Information necessary to conduct a criminal history record check in accordance with section 846-2.7 of each of the original chartering applicants and proposed executive officers of the credit union, accompanied by payment of the applicable fee for each record check to be conducted; and  (8) Any other information that the commissioner may require.  (c) The application shall be submitted on a form prescribed by the commissioner. The application shall be accompanied by a fee established by section 412:2-105.2, no part of which shall be refundable. [L 1993, c 350, pt of §1; am L 2008, c 196, §8; am L 2016, c 149, §13]
HI Rev Stat § 412:10-104 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-104 Articles and bylaws.

 §412:10-104 Articles and bylaws. (a) The applicants shall file with the commissioner proposed articles of association and bylaws as a part of the application for organization.  (b) The articles of association shall contain, but shall not be limited to the following provisions:  (1) Name and location of the proposed credit union;  (2) Name and addresses of the chartering applicants and the number of shares subscribed by each;  (3) Proposed field of membership, specified in detail; and  (4) Term of the existence of the credit union, which may be perpetual.  (c) The bylaws shall contain provisions for the general government of the credit union which are consistent with the requirements of this article.  (d) In order to simplify the organization of credit unions, the commissioner shall cause to be prepared model articles of association and bylaws, consistent with this article, which may be used by credit union organizers for their guidance. Such articles of association and bylaws shall be available to persons desiring to organize a credit union. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-105 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-105 Disclosure of information.

 §412:10-105 Disclosure of information. The identity of each original chartering applicant, and any information which is not confidential shall be available to the public. The original [chartering] applicants may request in writing that information be kept confidential. The original chartering applicants shall designate and separate any matter which the original chartering applicants claim is confidential and shall submit a separate statement providing the reasons and authority for the request for confidential treatment. The failure by the original chartering applicants to request confidential treatment and designate and separate the confidential matter shall preclude any objection or claim for wrongful disclosure of the same. Information determined by the commissioner to be confidential, pursuant to the original chartering applicants' request or otherwise, shall not be available to the public. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-106 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-106 Deposit and share insurance.

 §412:10-106 Deposit and share insurance. (a) The organizers of the proposed credit union shall apply for insurance on share and deposit accounts from the National Credit Union Administration or any successor governmental agency.  (b) No credit union shall transact any credit union business until it has received federal insurance of its share and deposit accounts.  (c) A corporate credit union shall be exempt from the requirements of this section. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-108 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-108 Denial of charter.

 §412:10-108 Denial of charter. If the commissioner is not satisfied that the applicant meets all the criteria set forth for approval, the commissioner shall issue a written decision denying the applicant's application for charter. An applicant who is denied approval may request a hearing before the commissioner in accordance with chapter 91. Any final decision of the commissioner denying an applicant a charter may be appealed to the circuit court as provided in chapter 91. [L 1993, c 350, pt of §1] Rules of Court  Appeals, see HRCP rule 72.
HI Rev Stat § 412:10-110 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-110 Membership meetings.

 §412:10-110 Membership meetings. (a) A credit union shall hold annual and special meetings of members when and as required by its bylaws. The bylaws shall provide that members be given reasonable notice of a meeting. A quorum for conducting any business at any meeting shall be fifteen members, and when not inconsistent with the other provisions of this article, a majority of all votes cast at any duly constituted meeting shall determine any question.  (b) At any meeting the members may:  (1) Decide any question properly raised at the meeting;  (2) Amend the bylaws if the notice of meeting has specified the questions to be considered; or  (3) Act on any matters as provided by the bylaws. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-111 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-111 Voting.

 §412:10-111 Voting. (a) Persons eligible to vote at a credit union meeting shall be:  (1) A member for at least three months; provided, that during the first twelve months of the existence of the credit union, this requirement shall not apply; and  (2) In compliance with all other voting requirements as provided by the bylaws.  (b) Each member shall have only one vote, regardless of the number or type of shares of the credit union such member owns. A credit union member other than a natural person may vote through an agent designated for the purpose.  (c) No member shall be entitled to vote by proxy.  (d) Notwithstanding anything in this section, credit unions may, if the bylaws of the credit union so provide, conduct elections by mail or allow voting by absentee ballot; provided that all ballots shall be signed by the voting member and shall be valid only for the designated meeting.  (e) The board of directors may establish a minimum age, not greater than eighteen years of age, as a qualification of eligibility to vote at meetings of the members or to hold office, or both. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-112 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-112 Board of directors.

 §412:10-112 Board of directors. (a) The governing body of a credit union shall be its board of directors. The board shall consist of an odd number of directors, at least five in number, to be elected annually by and from the members as the bylaws provide. All members of the board shall hold office for such terms as the bylaws provide. The terms of office may be staggered so that an approximately equal number expire each year. Any vacancy occurring on the board shall be filled until the next annual election by appointment by the remainder of the directors. At all board meetings a majority of the board shall constitute a quorum. The board shall have such power, authority, duties, and responsibilities vested in and imposed on directors by law.  (b) At their first meeting after the annual meeting of the members, the directors shall elect from their number the board officers specified in the bylaws. The bylaws shall specify the specific duties of each of the board officers. The terms of the board officers shall be one year, or until their successors are chosen and have been duly qualified.  (c) Notwithstanding any other provision of this article, a credit union may use any titles it chooses for the officials holding the positions described in this article, as long as such titles are not misleading.  (d) The board of directors may appoint from its own number an executive committee, consisting of not less than three directors, which may be authorized to act for the board in all respects, subject to any conditions or limitations prescribed by the board.  (e) The board of directors shall meet at least once a month and shall have the general direction and control of the affairs of the credit union. The board may meet at other times as is necessary. Minutes shall be kept of all meetings of the board of directors.  (f) In addition to the duties found elsewhere in this article, it shall be the special duty of the board of directors to:  (1) Authorize the employment and compensation of the president who will act as the chief executive officer of the credit union and be in active charge of its operations. The president shall hire such other persons necessary to carry on the business of the credit union;  (2) Purchase adequate fidelity coverage for the president and for other officers and employees handling or having custody of funds or property;  (3) Approve an annual operating budget for the credit union;  (4) Authorize the conveyance of property;  (5) Borrow or lend money to carry on the functions of the credit union;  (6) Appoint any special committees deemed necessary; and  (7) Perform such other duties as the members from time to time direct, and perform or authorize any action not inconsistent with this chapter and not specifically reserved by the bylaws for the members. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-113 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-113 No compensation of directors or committee members.

 §412:10-113 No compensation of directors or committee members. No member of the board, no officer of the board other than the treasurer, and no member of any committee, other than an employee, shall be compensated for services; provided that reasonable life, health, accident, similar insurance protection, and the reimbursement of reasonable expenses incurred in the execution of the duties of the position shall not be considered compensation. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-114 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-114 Credit committee.

 §412:10-114 Credit committee. (a) If the bylaws provide for a credit committee, the board of directors may appoint or the members may elect a credit committee. The credit committee shall consist of an odd number of members of the credit union, not less than three, but which shall not include more than one loan officer. The bylaws shall specify the number, qualifications, terms and other conditions of service of the credit committee. The board of directors shall fill any vacancies in the credit committee until successors are appointed or elected at the next annual election.  (b) The credit committee shall have general supervision of all loans to members, unless that function is delegated to a credit manager. It may approve or disapprove loan applications, subject to written policies established by the board of directors.  (c) The credit committee shall meet as often as the credit union's business requires to consider applications for loans or to review the work of the loan officers. A majority of committee members shall constitute a quorum, and except for those loans or lines of credit required to be approved by the board of directors, the vote of a majority present at any duly constituted meeting shall constitute the decision of the committee. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-115 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-115 Credit manager.

 §412:10-115 Credit manager. If the bylaws provide, the board of directors may appoint a credit manager in addition to or in lieu of a credit committee, subject to the direct supervision of the president of the credit union. The president may also be the credit manager. The credit manager may approve or disapprove loan applications, subject to written policies established by the board of directors. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-116 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-116 Loan officers.

 §412:10-116 Loan officers. (a) The board of directors, and if given such power by the board, the credit committee or the credit manager, may appoint one or more loan officers, who may be empowered to approve or disapprove loan applications, subject to written policies established by the board of directors. Not more than one member of any credit committee may serve as a loan officer. Each loan officer shall report to the credit committee or credit manager any action taken on a loan application within seven days after the filing thereof.  (b) A member whose application was disapproved by a loan officer may appeal such action to the credit committee, the credit manager or the board of directors, as provided by the bylaws. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-117 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-117 Supervisory committee.

 §412:10-117 Supervisory committee. (a) Within thirty days following each annual election, the board of directors shall appoint a supervisory committee consisting of no fewer than three and not more than five members, one of whom may be a director other than the treasurer. The bylaws shall specify the qualifications, terms and other conditions of service of the supervisory committee. The board of directors shall fill vacancies in the supervisory committee until successors are appointed after the next annual election.  (b) The supervisory committee shall make or cause to be made an annual audit of the books and affairs of the credit union, and such supplementary audits as the board or the commissioner may require; provided that the supervisory committee shall hire a certified public accountant or other qualified person or firm to conduct the audit if any of the following conditions exist:  (1) The supervisory committee has not conducted an annual supervisory committee audit;  (2) The board of directors or the commissioner deems an outside audit necessary; or  (3) The credit union has experienced persistent and serious recordkeeping or accounting deficiencies in violation of the requirements of sections 412:3-108 or 412:3-111 which continue past a usual, expected or normal period of time. The committee shall submit a report of each such audit to the board of directors and upon request, to the commissioner, and a summary of the report to the members at the next annual membership meeting of the credit union.  (c) The supervisory committee shall cause the passbooks and accounts of the members to be verified with the records of the credit union from time to time, and not less frequently than once every two years. The supervisory committee shall make or cause to be made such supplementary audits, examinations, and verifications of members' accounts as it deems necessary or as are required by the commissioner or the board of directors, and submit reports of these supplementary audits to the board of directors. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-118 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-118 Record of officials.

 §412:10-118 Record of officials. Within thirty days after election or appointment, a record of the names and addresses of the members of the board and such other committees and officers, as required by the commissioner, shall be filed with the division of financial institutions. [L 1993, c 350, pt of §1]