reglab/housing_qa huggingface dataset:
HI Rev Stat § 412:10-406 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-406 Prepayment of loan.

 §412:10-406 Prepayment of loan. A member may repay a loan, prior to maturity in whole or in part on any business day without penalty. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-407 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-407 Limitations on obligations of one borrower.

 §412:10-407 Limitations on obligations of one borrower. (a) No credit union shall permit a person to become indebted or liable to it, either directly or indirectly, on loans or extensions of credit in a total amount outstanding at any one time in excess of ten per cent of the credit union's capital.  (b) The aggregate obligations of a borrower to a credit union shall include any obligations owed to the same credit union by a partnership or association of which the borrower is a partner or member if such partnership or membership imposes liability on the borrower for said obligations by agreement or operation of law.  (c) The limitations set forth in this section shall not apply to:  (1) A credit union's deposits with another depository institution made in compliance with this chapter;  (2) A credit union's sale of federal funds to another depository institution with a maturity of one business day or under a continuing contract;  (3) Loans and extensions of credit secured by the interest-bearing obligations of the United States or those for which the faith and credit of the United States are distinctly pledged to provide for the payment of the principal and interest thereof or of the State or any county or municipal or political subdivision of this State, issued in compliance with the laws of this State, where the market value of the security shall be at any time not less than one hundred five per cent of the face amount of the loans and extensions of credit; and  (4) Loans and extensions of credit to the extent secured by a pledge or security interest in a share or deposit account in the lending credit union. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-408 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-408 Loans to officials.

 §412:10-408 Loans to officials. Loans may be made to officers, directors and members of the credit and supervisory committees of the credit union, provided that:  (1) The loan complies with all lawful requirements under this article with respect to loans to other borrowers and is not on terms more favorable than those extended to other borrowers;  (2) The loan shall be approved by the board of directors if the aggregate amount of all loans outstanding to the applicant including the loan amount applied for exceeds $10,000. Loans that are fully secured by shares and deposits in the credit union need not be approved by the board of directors and need not be included in determining the aggregate amount of loans outstanding to the applicant. Acting as a co-borrower, guarantor, or endorser of any loan to other members made by the same credit union shall be counted as a loan in determining the aggregate amount of loans made by the credit union to any applicant; and  (3) The loan applicant takes no part in and is not present during the consideration of the application. [L 1993, c 350, pt of §1] Revision Note  Subsection (a) designation deleted.
HI Rev Stat § 412:10-409 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-409 Real estate mortgage loans.

 §412:10-409 Real estate mortgage loans. (a) The amount of any credit union loan secured by a mortgage on real property shall be limited to the following percentages of the appraised value of the property:  (1) Ninety per cent of the value of any residential real property; and  (2) Eighty per cent of the value of any nonresidential real property. The principal amount of the loan shall be added together with the outstanding balances of all prior liens on the real property to determine the loan to value ratio.  (b) The amount of a loan secured by residential real property may be increased by the unencumbered share or deposit balances of the borrowing member that are pledged to the loan.  (c) Loans secured by real property other than residential real property shall provide for the regular reduction of principal.  (d) For loans secured by real property, the credit union may require the borrower to make regular deposits for the payment of insurance, taxes and other expenses assessed against the property. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-410 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-410 Lines of credit.

 §412:10-410 Lines of credit. A credit union may offer its members self-replenishing lines of credit. Loan advances within the limits of a line of credit may be made without the necessity of submitting additional loan applications; provided that the applicant qualifies for the line of credit and the applicant's aggregate indebtedness under the line of credit does not exceed the approved limit. The board, credit committee or credit manager shall review, or cause to be reviewed, all lines of credit at least once every three years. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-411 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-411 Loans to other credit unions.

 §412:10-411 Loans to other credit unions. A credit union may make loans to other credit unions, central credit unions, corporate credit unions or a central liquidity facility established under federal or state law; provided that the loans shall be approved by the board of directors and that the aggregate of all loans to such credit unions and a central liquidity facility shall not exceed twenty-five per cent of the lending credit union's capital. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-412 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-412 Participation loans.

 §412:10-412 Participation loans. Participation loans to credit union members jointly with other credit unions, credit union service organizations, or financial organizations shall be in accordance with written policies of the board of directors. A credit union which originates a loan for which participation arrangements are made in accordance with this section shall retain an interest of at least ten per cent of the face amount of the loan. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-413 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-413 Other loan programs.

 §412:10-413 Other loan programs. (a) A credit union may loan to members under any government guaranteed or insured loan program and such insurance on these loans shall be deemed adequate security. The terms of such loans shall be as defined by the board of directors under the provisions of the loan program.  (b) A credit union may purchase the conditional sales contracts, notes and similar instruments of its members.  (c) A credit union may finance for any person the sale of the credit union's personal property, including property obtained as a result of defaults in obligations owed to the credit union, under the terms, conditions and rates provided by this article. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-500 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-500 Applicability of part.

  §412:10-500 Applicability of part. This part sets forth the requirements and restrictions for investments made by all credit unions. A credit union may invest its assets as may be permitted by this part and as may be provided elsewhere in this article. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-501 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-501 General requirement for investments.

 §412:10-501 General requirement for investments. (a) A credit union shall make investments that are consistent with prudent investment practices and in compliance with all applicable federal and state law.  (b) The board of directors of a credit union and any other person charged with the responsibility of investing the credit union'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 § 412:10-503 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-503 Deposits made by credit unions.

 §412:10-503 Deposits made by credit unions. A credit union may deposit any of its funds in a deposit or share account with another depository institution; provided that the other depository institution has been designated a depository by the board of directors of the credit union and the accounts of the depository institutions are insured by the Federal Deposit Insurance Corporation, National Credit Union Share Insurance Fund or a successor agency. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-600 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-600 Regular reserve.

  §412:10-600 Regular reserve. (a) At the end of each accounting period and before the payment of any dividend, each credit union shall set aside from its gross earnings the following reserve against contingencies:  (1) A credit union in operation for less than four years or having assets of less than $500,000 shall set aside ten per cent of its gross earnings until the regular reserve equals seven and a-half per cent of its total outstanding loans and risk assets, whereupon the credit union shall set aside five per cent of its gross earnings until the regular reserve equals ten per cent of its total outstanding loans and risk assets.  (2) A credit union in operation for four or more years or having assets of $500,000 or more shall set aside ten per cent of gross earnings until the balance in the regular reserve equals four per cent of its total outstanding loans and risk assets, whereupon the credit union shall set aside five per cent of its gross earnings until the regular reserve equals six per cent of its total outstanding loans and risk assets.  (b) Whenever a credit union's regular reserve account falls below the percentages required by this section, the credit union shall notify the commissioner and shall make up the deficiency by regular contributions in such amounts as may be needed to maintain the required level.  (c) The commissioner may decrease or waive entirely the reserve requirement for an individual credit union in one or more accounting periods when in the commissioner's opinion such a decrease is necessary or desirable.  (d) The regular reserve shall belong to the credit union and shall be used to meet losses on risk assets and to meet such other classes of losses as are approved by the commissioner. The regular reserve shall not be distributed except on liquidation of the credit union, or in accordance with a plan approved by the commissioner. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-601 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-601 Special reserves.

 §412:10-601 Special reserves. The board of directors may establish, or [the] commissioner may require any credit union on an individual basis to establish, and transfer funds into one or more special reserve accounts when in the board's or the commissioner's judgment such action is necessary to protect the interests of the credit union's members, including without limitation circumstances when a credit union purchases accounts, or suffers an impairment or threat of impairment that endangers the adequacy of its regular reserve account. Special reserves may include allowances for loan losses and investment losses. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-602 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-602 Risk assets.

 §412:10-602 Risk assets. The commissioner shall define by rule what is deemed "risk assets" for the purpose of establishing the regular reserve. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-700 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-700 Insurance for members.

  §412:10-700 Insurance for members. A credit union may purchase or make available insurance for its members either on an individual or group basis. [L 1993, c 350, pt of §1] Cross References  Group life insurance for credit union groups, see §431:10D-211.
HI Rev Stat § 412:10-701 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-701 Liability insurance for officers

 §412:10-701 Liability insurance for officers. A credit union may purchase and maintain insurance on behalf of any person who is or was a director, officer, employee, or agent of the credit union, or who is or was serving at the request of the credit union as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against such person and incurred by such person in any such capacity or arising out of such person's status as such, whether or not the credit union would have the power to indemnify such person against such liability. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-702 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-702 Group purchasing

 §412:10-702 Group purchasing. A credit union may enter into marketing arrangements and joint ventures with other credit unions, or organizations or financial institutions to facilitate its members' voluntary purchase of goods, insurance and other services from third parties, consistent with the purposes of the credit union. A credit union may be compensated for services so provided. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-703 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-703 Money-type instruments

 §412:10-703 Money-type instruments. A credit union may collect, receive and disburse monies in connection with the providing of negotiable checks, money orders, travelers checks, and other money-type instruments, and the providing of services through automated teller machines and for such other purposes as may provide benefit or convenience to its members. A credit union may charge fees for such services. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-704 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-704 Retirement accounts

 §412:10-704 Retirement accounts. A credit union may act as trustee or custodian of any form of retirement, pension, profit-sharing, or deferred income accounts authorized under federal law or the laws of this State including but not limited to individual retirement accounts, pension funds of self-employed individuals, and pension funds of a company or organization whose employees or members are eligible for membership in the credit union. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-800 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-800 Application of part.

  §412:10-800 Application of part. Provisions of this part shall govern the formation and operations of a corporate credit union. Only one corporate credit union may be chartered under this article and as such shall have the exclusive right to use the term "corporate credit union" as part of its name. All parts of this chapter not inconsistent with this part shall apply. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-801 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-801 Purposes.

 §412:10-801 Purposes. The purposes of the corporate credit union are to:  (1) Accumulate and prudently manage the liquidity of its member credit unions through interlending and investment services;  (2) Act as an intermediary for credit union funds between members and other corporate credit unions;  (3) Obtain liquid funds from other credit union organizations, financial intermediaries, and other sources;  (4) Foster and promote in cooperation with other state, regional, and national corporate credit unions and credit union organizations or associations the economic security, growth, and development of member credit unions; and  (5) Provide payment systems and correspondent services to its members. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-802 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-802 Membership.

 §412:10-802 Membership. Membership in the corporate credit union shall consist of and be limited to the credit union subscribers to the articles of association, credit unions chartered under this article, the Federal Credit Union Act or any other credit union law, and organizations or associations of credit unions. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-803 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-803 Organization.

 §412:10-803 Organization. The application, approval and formation process for the corporate credit union shall be the same as for any other credit union, except that ten or more credit unions shall be required to file an application for a charter. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-804 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-804 Management and operation of corporate credit union.

 §412:10-804 Management and operation of corporate credit union. The corporate credit union shall be organized and operated like any other credit union, except that:  (1) Persons eligible to hold office and vote shall be designated by the board of directors of each member of the corporate credit union as the voting representative in the corporate credit union. Such voting representative shall be eligible to hold office in the corporate credit union as if such person were an individual member of the corporate credit union. Each member shall have only one vote;  (2) The corporate credit union shall be exempt from the regular reserve requirements established under this article, but shall establish and maintain an equity reserve to meet losses, in accordance with rules adopted by the commissioner;  (3) The corporate credit union shall be exempt from the share and deposit requirements of this article and from the security laws of this State; and  (4) The supervisory committee of a corporate credit union shall cause an annual opinion audit to be made by an independent, duly licensed certified public accountant and shall submit the audit report to the board of directors. A summary of the audit report shall be submitted to the membership at the next annual meeting. A copy of the audit report shall be submitted to the commissioner within thirty days after receipt by the board of directors. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-805 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-805 Powers.

 §412:10-805 Powers. The corporate credit union shall have all the rights, powers and privileges of any other credit union chartered under this article, as well as the power to:  (1) Accept funds, either as shares or deposits, from a member and from any credit union chartered by this State, by another state or territory of the United States, or by the United States, whether or not such credit union is a member of the corporate credit union, or from a similar institution incorporated under the laws of another country;  (2) Make loans to or invest in a member or in any credit union chartered by this State, by another state or territory of the United States, or by the United States, whether or not such credit union is a member of the corporate credit union;  (3) Make loans to or place deposits in a bank, savings bank, trust company, or savings and loan association chartered by this State, by another state or territory of the United States, or by the United States;  (4) Provide payment systems and correspondent services to its members;  (5) Participate with any credit union chartered by this State, another state or territory of the United States, or the United States in making loans to its members or to members of any other participating credit union, under the terms and conditions to which the participating credit unions agree;  (6) Contract for penalties for payment of loans prior to the scheduled maturity;  (7) Sell all or a part of its assets to another depository financial institution, purchase all or part of the assets of another depository financial institution and assume the liabilities of the selling depository financial institution and those of the selling depository institution's members or depositors;  (8) Act as intermediary for the funds of members, credit unions and other corporate credit unions;  (9) Act as agent for members, other credit unions and credit union organizations in paying, receiving, transferring the assets and liabilities received and invested as permitted in this article;  (10) Receive and hold in safekeeping the securities and other assets of its members and, in connection therewith, make such disposition of such assets as may be agreed to or directed by the member; and  (11) Exercise all incidental powers that are convenient, suitable or necessary to enable it to carry out the corporate credit union's purposes. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-806 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-806 Participation in central system.

 §412:10-806 Participation in central system. The corporate credit union may enter into agreements and subscribe to any required shares for the purpose of participation in the National Credit Union Administration Central Liquidity Facility created by Public Law 95-630 or any other state or federal central liquidity facility or central financial system for credit unions. The corporate credit union may also enter into agreements with any third parties to aid credit unions to obtain additional sources of liquidity. [L 1993, c 350, pt of §1]
HI Rev Stat § 412:10-807 (2021)
2021 Hawaii Revised Statutes|Title 22. Banks and Financial Institutions|412. Code of Financial Institutions|412:10-807 Collection on loans to members.

 §412:10-807 Collection on loans to members. (a) For any amounts due from a member to the corporate credit union, the corporate credit union shall have:  (1) A right of immediate setoff against the balances of the share and deposit accounts of each member; and  (2) A lien on all share and deposit accounts of each member in the total amount of the indebtedness, which shall attach to such accounts and be effective whenever the member is indebted to the corporate credit union, and which shall have priority over the interest of all members and unsecured creditors of the debtor member.  (b) The board of directors or credit committee of the corporate credit union may require and accept additional security for loans to a member in the form of a pledge, assignment, hypothecation, or mortgage of any assets of the member or a guarantor. [L 1993, c 350, pt of §1]