Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 1 - GENERAL PROVISIONS › Section 16-25-2 - Definitions

Current through June, 2024
As used in this chapter:
"Application" means any written request for approval or
				  action by the commissioner of financial institutions, including but not limited
				  to: a petition, letter request, notice filing, or other submittal filed in the
				  form prescribed by the commissioner and containing information required to
				  determine whether a license, charter, certificate of authority, or any approval
				  shall be granted.
"Appropriate federal regulatory agency" means, with respect
				  to a financial institution or financial institution holding company, any one or
				  more regulatory agencies of the federal government referred to in the following
				  sentence which either (1) insures the deposits of the financial institution or
				  financial institution holding company, or (2) has the power and duty to conduct
				  periodic general examinations of the affairs of the financial institution or
				  financial institution holding company by virtue of the legal characterization
				  of the financial institution or financial institution holding company under
				  federal law, and not by virtue of the fact of affiliation of the financial
				  institution or financial institution holding company with any other person or
				  an alleged violation of a specific law. Subject to the preceding sentence, an
				  appropriate federal regulatory agency may be the Federal Deposit Insurance
				  Corporation, the Comptroller of the Currency, the Federal Reserve Board, the
				  Office of Thrift Supervision, the National Credit Union Administration or any
				  regulatory agency of the federal government which shall succeed to the
				  insurance or supervisory duties of one of the foregoing.
"Commissioner" means the commissioner of financial
				  institutions of this State.
"Division" means the division of financial institutions of
				  the department of commerce and consumer affairs of this State.
"Financial institution" means a Hawaii financial
				  institution, and unless the context indicates otherwise, a federal financial
				  institution or foreign financial institution.
"Financial institution holding company" means a holding
				  company which controls a Hawaii financial institution or which controls another
				  financial institution holding company. The following persons shall not be
				  deemed to come within the definition of a financial institution holding
				  company:
(1) A registered dealer who acts as an underwriter or member
				  of a selling group in a public offering of the voting securities of a financial
				  institution or of a financial institution holding company;
(2) A person who acts as proxy for the sole purpose of voting
				  at a designated meeting of the security holders of a financial institution or
				  of a financial institution holding company;
(3) A person who acquires control of a financial institution
				  or of a financial institution holding company by devise or descent; or
(4) A pledgee of a voting security of a financial institution
				  or of a financial institution holding company who does not have the right, as
				  pledgee, to vote such voting security.
"Hawaii financial institution" or "institution"
				  means:
(1) A corporation or credit union which holds a charter or
				  license under chapter 412, HRS, or under prior Hawaii law, authorizing it to
				  accept deposits, to make loans in excess of the rates permitted in chapter 478,
				  HRS, or to engage in the business of a trust company; or
(2) A resulting bank as defined in article 12 of chapter 412,
				  HRS, and includes a corporation, mutual savings and loan association or credit
				  union existing and chartered as a Hawaii financial institution or licensed to
				  transact business in this State on July 1, 1993. A Hawaii financial institution
				  may be a bank, resulting bank as defined in article 12 of chapter 412, HRS,
				  savings bank, savings and loan association, depository financial services loan
				  company, nondepository financial services loan company, trust company, credit
				  union, or intra-Pacific bank.