reglab/statecodes huggingface dataset:
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 24 - MONEY TRANSMITTERS › Subchapter 3 - STANDARDS OF REVIEW; DECISIONS › Section 16-24-16 - Presumptive disqualification criteria

Current through June, 2024
(a) Managerial
				resource test. The following factors shall give rise to a rebuttable
				presumption that the criterion regarding the general character of management
				has not been met, if the applicant or any individual member of management has:
(1) Been convicted of, or has pleaded nolo
				contendere to, any crime involving an act of fraud or dishonesty;
(2) Consented to or suffered a judgment in
				any civil or administrative action based upon conduct involving an act of fraud
				or dishonesty;
(3) Consented to or
				suffered any indictment, formal investigation, examination, or civil or
				administrative proceedings that resulted in any agreement, undertaking,
				consent, or order issued by any federal or state court, any department, agency,
				or commission of the United States government, any state or municipality, any
				self-regulatory trade or professional organization, or any foreign government
				or governmental entity, which involves an act of fraud or dishonesty;
(4) Consented to or suffered the suspension
				or revocation of any professional, occupational, or vocational license based
				upon conduct involving an act of fraud or dishonesty;
(5) Knowingly made or caused to be made in
				any application or report filed with the commissioner or in any proceeding
				before the commissioner, any written or oral statement which was, at the time
				and in light of the circumstances under which it was made, false or misleading
				with respect to material fact, or has omitted to state in any application or
				report any material fact which was required to be stated;
(6) Committed any violation of, or aided,
				abetted, counseled, commanded, induced, or procured the violation by any other
				person of, any provision of state law or rule relating to the business of money
				transmission;
(7) Been involved in
				the denial of or the withdrawal by the applicant or its affiliates, after
				receipt of formal or informal notice of an intent to deny, of:
(A) Any application relating to the
				organization of a money transmitter,
(B) An application to acquire any money
				transmitter or subsidiary or holding company thereof; or
(C) A notice relating to a change in control
				of any money transmitter, or subsidiary or holding company thereof;
(8) Been placed in receivership or
				conservatorship during the preceding ten years;
(9) Was a management official or director of
				a money transmitter which entered into receivership or conservatorship, was
				placed in a management consignment program, or was liquidated during his or her
				tenure or within two years thereafter.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 24 - MONEY TRANSMITTERS › Subchapter 3 - STANDARDS OF REVIEW; DECISIONS › Section 16-24-17 - Action on application; denial of application

Current through June, 2024
(a) Any
				complete application which is not approved or denied by the commissioner within
				a period of one year after the application is filed with the commissioner,
				shall be deemed approved by the commissioner as of the first day after the
				period of one year. For purposes of this section, an application is deemed to
				be filed with the commissioner at the time when the complete application,
				including any amendments or supplements, containing all of the information in
				the form required by the commissioner, is received and accepted by the
				commissioner.
(b) If the
				commissioner is satisfied that the applicant meets the relevant criteria, the
				commissioner shall issue a written final decision and order approving the
				application.
(c) If the
				commissioner is not satisfied that the applicant meets the statutory criteria,
				the commissioner shall issue a written decision denying the application, which
				shall include a statement of the reasons for the denial.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 24 - MONEY TRANSMITTERS › Subchapter 3 - STANDARDS OF REVIEW; DECISIONS › Section 16-24-18 - Decision denying application subject to administrative hearing: final decision and order

Current through June, 2024
(a) Within fifteen
				days following receipt of a decision denying the application, the applicant may
				petition the commissioner for an administrative hearing which shall be held in
				accordance with chapter 91, HRS, and chapter 16-201.
(b) If a petition for an administrative
				hearing is not filed within the time specified, the commissioner's decision
				denying the application shall become a final decision and order denying the
				application.
(c) Upon the filing of
				a petition for an administrative hearing, and as expeditiously as possible, the
				commissioner shall assign the petition to a hearings officer for further
				proceedings pursuant to chapter 16-201. The commissioner shall issue a written
				final decision and order as expeditiously as possible, following the hearings
				officer's transmittal of the entire record together with the recommended
				decision, any timely filed exceptions, and any timely filed statements in
				support of the recommended decision.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 24 - MONEY TRANSMITTERS › Subchapter 4 - BONDS › Section 16-24-22 - Amount of bond or security device

Current through June, 2024
(a) Subject to
				subsection (b), each application shall be accompanied by a surety bond,
				irrevocable letter of credit, or other similar security device acceptable to
				the commissioner in an amount no less than $1,000.
(b) The commissioner may increase the amount
				of the bond or security device required, to a maximum of $500,000, on the basis
				of criteria determined by the commissioner to be relevant, including but not
				limited to:
(1) The amount by which the daily
				average of outstanding instruments of an applicant exceeds the amount of its
				permissible investments, if any;
(2) The applicant's net worth; and
(3) The applicant's volume of transactions
				expressed as a dollar amount.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 24 - MONEY TRANSMITTERS › Subchapter 4 - BONDS › Section 16-24-23 - Procedures for suit on bond or security device

Current through June, 2024
(a) The
				commissioner or claimants against the surety device may bring suit upon the
				bond or security device in the court in which jurisdiction over the licensee
				may be obtained. In the event that valid claims against a bond exceed the
				amount of the bond at anyone time, each claimant shall only be entitled to a
				pro rata amount, based on the amount of the claim.
(b) In the event that claims against the bond
				or security device reduce the principal amount of the bond or security device,
				the licensee shall immediately replenish the principal amount of the bond or
				security device to meet or exceed the amount required by statute. If the
				licensee fails to replenish the principal within thirty days from the date the
				reduction occurs, the commissioner may suspend the licensee's
				license.
(c) Claims on the bonds or
				security device are nonexplosive and do not affect any other remedy available
				at law.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 24 - MONEY TRANSMITTERS › Subchapter 5 - EXAMINATIONS › Section 16-24-27 - Examination fees and expense

Current through June, 2024
(a) The
				commissioner may charge an examination fee to each licensed money transmitter
				and authorized delegate examined or investigated by the commissioner or the
				commissioner's staff, based upon the cost per hour per examiner. Effective July
				1, 2007, the hourly fee shall be $40. After July 1, 2008, the commissioner may
				establish, increase, decrease, or repeal the hourly fee when necessary,
				pursuant to rules adopted in accordance with chapter
				91, HRS.
(b) In addition to the examination fee, the
				commissioner may charge any money transmitter or authorized delegate examined
				or investigated by the commissioner or the commissioner's staff, additional
				amounts for travel, per diem, mileage, and other reasonable expenses incurred
				in connection with the examination.
(c) The commissioner shall bill the affected
				money transmitter or authorized delegate for examination fees and expenses as
				soon as feasible after the close of the examination or investigation. The
				affected money transmitter or authorized delegate shall pay the division of
				money transmitter or authorized delegate within thirty days following the
				billing. All such payments shall be deposited to the compliance resolution fund
				established pursuant to section
				26-9(o),
				HRS. All disputes relating to these billings between the affected money
				transmitter or authorized delegate and the commissioner shall be resolved in
				accordance with the procedures for contested cases under chapter
				91, HRS.
(d) A money transmitter or authorized
				delegate that fails to make a payment required by this section shall be subject
				to a fine as provided under the statutory provisions relating to civil
				penalties, which fine, together with the amount due under this section, may be
				recovered by action in circuit court, in which case the commissioner may
				request the court to award reasonable attorney's fees and costs. All of the
				additional fines, fees, and costs recovered by the commissioner under this
				section shall be deposited into the compliance resolution fund established
				pursuant to section
				26-9(o),
				HRS.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 24 - MONEY TRANSMITTERS › Subchapter 6 - RECORDS › Section 16-24-31 - Records that must be made available for inspection

Current through June, 2024
(a) In
				addition to those records listed by statute that the licensee shall make, keep,
				preserve, and make available for inspection by the commissioner, the following
				shall also be made, kept, preserved, and made available for inspection by the
				commissioner:
(1) Written procedures created
				and provided by licensees to their authorized delegates;
(2) Records of transmissions made;
(3) Evidence, in a form satisfactory to the
				commissioner, of compliance with the requirements of section
				489D-20(b),
				HRS;
(4) Records of refund requests
				received and of refunds made; and
(5) Records of theft or loss of payment
				instruments, including reports made by authorized delegates to the licensee, of
				theft or loss of payment instruments.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 24 - MONEY TRANSMITTERS › Subchapter 8 - ENFORCEMENT ACTION › Section 16-24-40 - Suspension or revocation of money transmitter license

Current through June, 2024
(a)
				The commissioner may suspend or revoke the license of a money transmitter,
				based on any of the grounds set forth in section
				489D-23,
				HRS.
(b) The commissioner shall
				give the money transmitter notice and an opportunity for a hearing in
				conformity with chapter 91, HRS. The notice shall be given in writing at least
				twenty days before the hearing, by registered or certified mail with return
				receipt requested.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 24 - MONEY TRANSMITTERS › Subchapter 8 - ENFORCEMENT ACTION › Section 16-24-41 - Suspension or revocation of authorized delegate designation

Current through June, 2024
(a)
				The commissioner may suspend or revoke the authorized delegate designation,
				based on any of the grounds set forth in section
				489D-23,
				HRS.
(b) The commissioner shall
				give the authorized delegate notice and an opportunity for a hearing in
				conformity with chapter
				91, HRS. The notice shall be given in
				writing at least twenty days before the hearing, by registered or certified
				mail with return receipt requested.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 24 - MONEY TRANSMITTERS › Subchapter 8 - ENFORCEMENT ACTION › Section 16-24-42 - Relief from suspension or revocation of designation of authorized delegate

Current through June, 2024
To the extent authorized by law, an authorized delegate may
				  apply with the commissioner for relief from suspension or revocation of the
				  designation of an authorized delegate. Relief shall be granted only upon
				  complete compliance with any terms or conditions imposed by the order of
				  suspension or revocation. The commissioner has the discretion to impose
				  additional terms and conditions upon the authorized delegate prior to
				  reinstatement. The application for relief shall be accompanied by a
				  reinstatement fee of $1000.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 24 - MONEY TRANSMITTERS › Subchapter 8 - ENFORCEMENT ACTION › Section 16-24-43 - Cease and desist orders

Current through June, 2024
The commissioner may issue a cease and desist order, based
				  on the grounds set forth in section
				  489D-26,
				  HRS. To determine immediate and irreparable harm, insolvency, or significant
				  dissipation of assets of the licensee, the commissioner may use any records
				  required by law to be made, kept, or preserved by the licensee regardless of
				  whether they have previously been made available to the
				  commissioner.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 24 - MONEY TRANSMITTERS › Subchapter 9 - REQUESTS FOR OPINIONS AND INTERPRETATIONS OF STATUTE OR RULE › Section 16-24-47 - Inquiries from the public

Current through June, 2024
Any opinion, interpretation, or advice rendered by the
				  division shall be in keeping with the division's regulatory purpose. The
				  division shall not render opinions or interpretations to private individuals,
				  so as to determine an individual's rights against a licensed money
				  transmitter.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 24 - MONEY TRANSMITTERS › Subchapter 9 - REQUESTS FOR OPINIONS AND INTERPRETATIONS OF STATUTE OR RULE › Section 16-24-48 - Inquiries from a money transmitter or industry trade association

Current through June, 2024
The division's response to an inquiry from a money
				  transmitter or industry trade association shall not determine private rights
				  and obligations. The commissioner may decide to respond to a money
				  transmitter's or industry trade association's inquiry regarding an
				  interpretation of statute or rule that is consistent with the division's
				  regulatory purpose. A money transmitter or industry trade association has a
				  right to know whether the division will find a particular action to be within
				  the bounds of the law.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 24 - MONEY TRANSMITTERS › Subchapter 9 - REQUESTS FOR OPINIONS AND INTERPRETATIONS OF STATUTE OR RULE › Section 16-24-49 - Requests for interpretation or opinion

Current through June, 2024
(a) An inquirer who
				requests an interpretation of statute or rule shall state in writing:
(1) The facts giving rise to the
				inquiry;
(2) The specific questions
				being presented;
(3) The inquirer's
				position on the questions; and
(4)
				Any authority, legal or otherwise, for that position.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 24 - MONEY TRANSMITTERS › Subchapter 9 - REQUESTS FOR OPINIONS AND INTERPRETATIONS OF STATUTE OR RULE › Section 16-24-50 - Intepretations and opinions by commissioner

Current through June, 2024
(a) The
				commissioner shall issue in writing any statement made for the purpose of
				interpreting a statute or rule, rendering an opinion, or defining a
				policy.
(b) The commissioner's
				interpretation or opinion shall have particular applicability to the inquirer,
				and shall not apply lo other money transmitters or persons, unless so
				stated.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 24 - MONEY TRANSMITTERS › Subchapter 9 - REQUESTS FOR OPINIONS AND INTERPRETATIONS OF STATUTE OR RULE › Section 16-24-51 - Construction

Current through June, 2024
Whenever this chapter is silent on a matter, the
				  commissioner may refer to chapter 16-201 for guidance.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 24 - MONEY TRANSMITTERS › Subchapter 10 - COMPLAINTS › Section 16-24-55 - Complaints against money transmitters

Current through June, 2024
The division may investigate and act upon complaints against
				  money transmitters licensed under chapter
				  489D, HRS. Complaints shall be filed
				  in writing with the division.
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 16-25-1 - Objectives

Current through June, 2024
The objective of this chapter is to implement the
				  requirements of chapter 412, Hawaii Revised Statutes, as they relate to
				  applications, requests for opinions, and interpretations of law or rule, and
				  consumer complaints.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 2 - APPLICATION PROCEDURES › Section 16-25-7 - General procedures

Current through June, 2024
Any person desiring to obtain the approval of the
				  commissioner shall:
(1) File an
				application in the form prescribed by this chapter;
(2) File the appropriate application fee, if
				any; and
(3) Provide public notice
				of the filing of the application, as prescribed by this chapter.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 2 - APPLICATION PROCEDURES › Section 16-25-8 - Application forms; fees

Current through June, 2024
(a) Each
				application referred to in this chapter shall be made by the completion and
				submittal to the commissioner, in duplicate, of:
(1) The application form prescribed by the
				commissioner, copies of which may be obtained by request from the division;
				or
(2) The application in letter
				form, if no application form has been prescribed by the commissioner. The
				application in letter form shall state in detail the nature and scope of the
				requested consent or approval and all information reasonably required for the
				commissioner's review and consideration of the application.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 2 - APPLICATION PROCEDURES › Section 16-25-9 - Sufficiency of application

Current through June, 2024
An application filed with the commissioner shall not be
				  deemed complete, unless it includes all of the information required on the
				  prescribed form and any additional relevant information as the commissioner may
				  require by written request to the applicant. The failure of an applicant to
				  respond within ten business days of the date of the written request for
				  additional information may be treated as grounds for denial of an
				  application.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 2 - APPLICATION PROCEDURES › Section 16-25-10 - Applications by Hawaii financial institutions

Current through June, 2024
(a) Unless
				otherwise provided, this chapter applies to the applications listed below to
				organize banks, savings banks, savings and loan associations, trust companies,
				and depository financial services loan companies. Application fees, if any, are
				designated.
(1) Application for preliminary
				approval to organize a Hawaii financial institution ($9,000);
(2) Application for approval of articles of
				incorporation and bylaws;
(3)
				Application for approval of capital stock solicitation; and
(4) Final application for charter or
				license.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 2 - APPLICATION PROCEDURES › Section 16-25-11 - Bank applications

Current through June, 2024
Unless otherwise provided, this chapter applies to the
				  applications listed below. Application fees, if any, are designated.
(1) Application to acquire powers granted
				under federal law;
(2) Application
				to acquire, establish, or hold the voting securities of an operating
				subsidiary;
(3) Application to
				accept drafts or bills of exchange in excess of one hundred fifty per cent of
				capital and surplus;
(4)
				Application to engage in trust business ($5,000);
(5) Application to transact insurance
				business;
(6) Application to engage
				in securities activities;
(7)
				Application for authority to exercise additional powers;
(8) Application by an intra-Pacific bank or
				intra-Pacific bank holding company to engage in business in Hawaii;
				and
(9) Application for any other
				approval by the commissioner.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 2 - APPLICATION PROCEDURES › Section 16-25-12 - International banking corporation applications

Current through June, 2024
Unless otherwise provided, this chapter applies to the
				  applications listed below. Application fees, if any, are designated.
(1) Application to establish an international
				banking corporation;
(2)
				Application by an international banking corporation to purchase stock or other
				certificates of ownership in another corporation; and
(3) Application for any other approval by the
				commissioner.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 2 - APPLICATION PROCEDURES › Section 16-25-13 - Foreign bank applications

Current through June, 2024
Unless otherwise provided, this chapter applies to the
				  applications listed below. Application fees, if any, are designated.
(1) Application to establish and maintain a
				branch or agency ($9,000);
(2)
				Application to establish additional intrastate Hawaii state branches or Hawaii
				state agencies ($1,500);
(3)
				Application to secure an amended license to establish and maintain a branch or
				agency ($1,500);
(4) Application to
				establish and maintain a representative office ($1,500);
(5) Application by a foreign bank to conduct
				other activities at a representative office;
(6) Application to relocate a branch, agency,
				or representative office ($250);
(7) Application to close a branch, agency, or
				representative office ($250); and
(8) Application for any other approval by the
				commissioner.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 2 - APPLICATION PROCEDURES › Section 16-25-14 - Trust company applications

Current through June, 2024
Unless otherwise provided, this chapter applies to the
				  applications listed below. Application fees, if any, are designated.
(1) Application to deposit reserve in banks
				and other trust companies;
(2)
				Application for approval of agreements between trust companies and banks;
				and
(3) Application for any other
				approval by the commissioner.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 2 - APPLICATION PROCEDURES › Section 16-25-15 - Savings bank and savings and loan association applications

Current through June, 2024
Unless otherwise provided, this chapter applies to the
				  applications listed below. Application fees, if any, are designated.
(1) Application to acquire powers granted
				under federal law;
(2) Application
				to form and own a service corporation (savings and loan association:
				$150);
(3) Application to acquire,
				establish, or hold the voting securities of an operating subsidiary;
(4) Application by a mutual savings and loan
				association to convert to a stock form; and
(5) Application for any other approval by the
				commissioner.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 2 - APPLICATION PROCEDURES › Section 16-25-16 - Financial services loan company applications

Current through June, 2024
Unless otherwise provided, this chapter applies to the
				  applications listed below. Application fees, if any, are designated.
(1) Application for a license as a
				nondepository financial services loan company ($5,000);
(2) Application to sell or refer accidental
				death and dismemberment insurance, auto club memberships, and home and
				automobile security plans;
(3)
				Application to issue standby letters of credit;
(4) Application to sell or refer fixed rate
				annuities;
(5) Application to
				deposit cash reserves in United States branches of non-United States
				banks;
(6) Application to form and
				own a service corporation;
(7)
				Application for additional service corporation powers; and
(8) Application for any other approval by the
				commissioner.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 2 - APPLICATION PROCEDURES › Section 16-25-17 - Credit union applications

Current through June, 2024
Unless otherwise provided, this chapter applies to the
				  applications listed below. Application fees, if any, are designated.
(1) Application for charter ($20);
(2) Application to change field of
				membership;
(3) Application to
				acquire powers granted under federal law;
(4) Application to relocate a principal
				office, or to open or relocate a branch or agency (open branch: $20);
(5) Application for conversion from federal
				to Hawaii credit union ($20);
(6)
				Application for the merger of a Hawaii credit union with a Hawaii or federal
				credit union ($20);
(7) Application
				to change a Hawaii credit union's name;
(8) Application for approval to cease
				business; and
(9) Application for
				any other approval by the commissioner.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 2 - APPLICATION PROCEDURES › Section 16-25-18 - Emergency applications

Current through June, 2024
Notwithstanding any provision contained in this chapter, an
				  application may be approved by the commissioner without notice, comment, or
				  hearing in any case which the commissioner determines to be an emergency
				  arising from the insolvency of an existing institution or to prevent the
				  failure of an existing institution. No such emergency applications may be
				  granted unless the commissioner determines that the relevant statutory criteria
				  have been met.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 3 - NOTICE AND COMMENT PROCEDURES › Section 16-25-23 - Scope

Current through June, 2024
(a) Except as otherwise provided by law, this
				subchapter applies to the following types of applications:
(1) Application for proposed new financial
				institution;
(2) Application to
				establish a branch or agency;
(3)
				Application to relocate the principal office, branch, or agency;
(4) Application to sell or acquire assets, to
				transfer or assume liabilities and deposits, or to merge or consolidate with
				another company; and
(5) Any other
				application which the commissioner deems appropriate. If an application falls
				within this category, the applicant will be notified at the time the
				application is accepted for filing that the procedures set forth in this
				subchapter shall be followed.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 3 - NOTICE AND COMMENT PROCEDURES › Section 16-25-24 - Notice by publication of application; opportunity to comment and provide information

Current through June, 2024
(a) Except as
				otherwise provided by statute, upon the filing of an application, the applicant
				shall publish notice of the proposed transaction in a newspaper of general
				circulation in the State. The published notice shall include the name of the
				applicant, the subject matter of the application, and the location or locations
				at which the applicant proposes to engage in business. A copy of the notice
				shall be filed with the division.
(b) In order to apprise the public of an
				opportunity to comment on an application, the notice shall include a statement
				describing the opportunity to comment on or protest the granting of, or request
				an informational and comment proceeding on the application. Except as otherwise
				provided by statute, the notice shall include the following statement:
"Any person wishing to comment on the application may file
				  comments in writing with the Commissioner of Financial Institutions (by mail to
				  P.O. Box 2054, Honolulu, Hawaii 96805; or delivered to 335 Merchant Street,
				  Room 221, Honolulu, Hawaii 96813) within fifteen days of the date of this
				  notice. The comments may include a statement protesting or supporting the
				  application.
You may at the same time request that an informational and
				  comment proceeding be held on the application. If this proceeding is requested,
				  you should include a brief statement of your interest in the application, the
				  matters you wish to discuss, and the reasons why a written presentation would
				  not suffice in lieu of the proceeding.
The nonconfidential portion of the application and related
				  documents will be available for inspection within one working day following a
				  request for the application and documents. The application and documents may be
				  inspected at the Division of Financial Institutions during regular business
				  hours."
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 3 - NOTICE AND COMMENT PROCEDURES › Section 16-25-25 - Comments on application; request for informational and comment proceeding

Current through June, 2024
(a) Any person may file with the commissioner
				written comments on an application within fifteen days of the publication of
				notice. The comment period may be extended by the commissioner for good
				cause.
(b) Any person who files a
				written comment may at the same time request that an informational and comment
				proceeding be held on the application. A request for the proceeding shall be
				accompanied by a brief statement of the person's interest in the application,
				the matters the person wishes to discuss at the proceeding, and the reasons why
				a written presentation would not suffice in lieu of the proceeding.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 3 - NOTICE AND COMMENT PROCEDURES › Section 16-25-26 - Informational and comment proceeding

Current through June, 2024
(a) The purpose of
				the informational and comment proceeding shall be to receive information and
				comments from interested persons on an application.
(b) If the commissioner decides to hold an
				informational and comment proceeding, the commissioner shall notify the
				applicant and each person who requested a proceeding of the date, time, and
				location of the proceeding, not less than ten days prior to the proceeding. The
				commissioner may also decide not to hold an informational and comment
				proceeding, in which case the commissioner shall so advise the applicant and
				each person who requested the proceeding.
(c) The informational and comment proceeding
				shall involve a meeting with division representatives at which the participants
				shall be asked to present their views orally. Separate meetings with each of
				the participants may be conducted where deemed advisable.
(d) There is no proof to be made during an
				informational and comment proceeding, and no burden of proof is, therefore,
				placed on the applicant or any person. Witness statements are unshorn,
				voluntary, and not subject to any restriction, except that they pertain to the
				application. The proceeding shall not be recorded or transcribed.
(e) The informational and comment proceeding
				shall be open to the public, except when the commissioner determines that the
				circumstances warrant confidentiality.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 3 - NOTICE AND COMMENT PROCEDURES › Section 16-25-27 - Public review of application; exceptions

Current through June, 2024
(a) Subject to
				other provisions of this chapter, all applications, correspondence, and
				supporting documents filed with the commissioner shall be available for public
				review as provided by law following receipt of a request to review
				them.
(b) Information claimed by an
				applicant to be confidential shall be submitted on separate pages which can be
				detached from the rest of the application. The confidential information shall
				be submitted separately and identified on the top of each page by the words
				"Submitted as Confidential". Information submitted as being confidential shall
				be accompanied by a separate statement requesting confidential treatment and
				providing reasons and authority for maintaining confidentiality.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 3 - NOTICE AND COMMENT PROCEDURES › Section 16-25-28 - Confidentiality of application

Current through June, 2024
No information contained in any application or supporting
				  documents shall be made available to the public if it is determined by the
				  commissioner to be confidential. Information that may be considered
				  confidential includes, but is not limited to the following:
(1) Commercial or financial information, the
				disclosure of which would, or would be likely to, result in substantial
				competitive harm to the applicant;
(2) Information, the disclosure of which
				could seriously affect the financial condition of any institution;
(3) Personal information, the release of
				which would, or would be likely to, constitute a clearly unwarranted invasion
				of privacy; or
(4) Other
				information, the disclosure of which is prohibited by section
				412:2-104,
				HRS.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 4 - STANDARDS OF REVIEW; DECISIONS › Section 16-25-33 - Rights of applicants; obligations of commissioner

Current through June, 2024
An applicant has a right to file an application and to
				  obtain full consideration of the application by the commissioner in light of
				  all relevant facts and without prejudice. If all of the relevant criteria are
				  resolved favorably, the applicant is entitled to receive the requested
				  authorization. In the event an application is disapproved, an applicant has a
				  right to be informed by the commissioner of the reasons for
				  disapproval.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 4 - STANDARDS OF REVIEW; DECISIONS › Section 16-25-34 - Burden of proof

Current through June, 2024
The applicant shall have the burden of providing information
				  to satisfy all relevant criteria in support of an application. The burden of
				  proof in any contested case hearing, including the burden of producing the
				  evidence and the burden of persuasion, shall be upon the applicant. Proof of a
				  matter shall be by a preponderance of the evidence.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 4 - STANDARDS OF REVIEW; DECISIONS › Section 16-25-35 - Criteria for proposed institutions

Current through June, 2024
The criteria applied to applications relating to proposed
				  institutions may include, but are not limited to:
(1) General character of management. The
				quality of an institution's management is vital and perhaps the single most
				important element in determining the applicant's acceptability as a proposed
				institution. If the management of the proposed institution does not have an
				operating record as a functioning unit to assist in forming a judgment, the
				management review may require an evaluation of the individual officers and
				directors. Shareholders who subscribe to ten per cent or more of the aggregate
				par value of stock to be issued may also exert an influence in the management
				of the proposed institution, and an evaluation of those shareholders may also
				be appropriate in reviewing the general character of management.
(A) Among the information to be considered in
				evaluating each officer and director, and each shareholder subscribing to ten
				per cent or more of the stock to be issued are:
(i) Their current and past business
				experiences, financial capacities, and financial interests;
(ii) Their proposed duties and
				responsibilities as related to their business experience and
				capabilities;
(iii) Their
				familiarity with the community or trade area; and
(iv) Any financing arrangements to purchase
				stock of the proposed institution.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 4 - STANDARDS OF REVIEW; DECISIONS › Section 16-25-36 - Criteria for existing institutions

Current through June, 2024
The criteria for proposed institutions and for existing
				  institutions are generally the same. The following criteria may apply to
				  applications submitted by existing institutions:
(1) Financial history and condition. The
				financial history of an operating institution is usually reflected in its
				present condition. Where the financial history of an operating institution has
				not been successful, reasonable assurances shall be provided that the cause of
				any past difficulties of a serious nature have in large measure either been
				overcome or cease to exist. With respect to an operating institution's
				financial condition, the general quality of net assets shall be satisfactory
				and on a par with that of other comparable institutions. In appraising the
				value and quality of an applicant operating institution's assets, the same
				appraisal and classification procedures and criteria shall be followed as in
				regular division examinations. Other information to be considered include:
				violations of laws and rules, contingent liabilities, existing litigation
				against the institution, dividend and remuneration policies, policies regarding
				prompt recognition and charge-off of losses, and other matters which could
				affect the institution's condition.
(2) Adequacy of the capital structure. An
				existing institution should have sufficient capital to support the volume,
				type, and character of its business, provide for losses, and meet the
				reasonable needs of the community for financial services.
(3) Future earnings prospects. The earnings
				capability of an existing institution is reflected in its earnings record. An
				operating institution's earnings records shall indicate ability to pay all
				operating expenses with a safe margin for the absorption of losses and for the
				payment of reasonable dividends.
(4) General character of management. In the
				case of an existing institution, management may be evaluated both from the
				standpoint of the institution's condition and the vantage point of management's
				past performance as reflected in the books and records of the institution, and
				previous examination reports and correspondence.
(5) Convenience and needs of the community.
				This criterion is closely related to those outlined with respect to the "future
				earnings prospect" criterion. An institution which is successfully and
				profitably operated, and which has a recognized place and established customer
				relationships in the community is presumed to promote the convenience and
				advantage of the community.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 4 - STANDARDS OF REVIEW; DECISIONS › Section 16-25-37 - Additional disqualification criteria

Current through June, 2024
(a) Managerial
				resource test. The presumption that in the absence of credible evidence to the
				contrary, a director, officer, or controlling person is of good character and
				sound financial standing may be rebutted by evidence to the contrary, including
				without limitation a finding that such director, officer, or controlling person
				has:
(1) Consented to or suffered a judgment
				in any administrative action based upon conduct involving an act of fraud or
				dishonesty;
(2) Consented to or
				suffered any indictment, formal investigation, examination, or civil or
				administrative proceedings that resulted in any agreement, undertaking,
				consent, or order issued by any federal or state court, any department, agency,
				or commission of the United States government, any state or municipality, any
				self-regulatory trade or professional organization, or any foreign government
				or governmental entity, which involves an act of fraud or dishonesty;
(3) Been involved in the denial, withdrawal
				after receipt of formal or informal notice of an intent to deny, by the
				applicant or affiliates of the applicant, of:
(A) Any application relating to the
				organization of a financial institution;
(B) An application to acquire any financial
				institution, subsidiary or holding company thereof; or
(C) A notice relating to a change in control
				of any financial institution, subsidiary or holding company thereof;
				or
(4) Been placed in
				receivership or conservatorship during the preceding ten years, was a
				management official or director of a financial institution which entered into
				receivership or conservatorship, was placed in a management consignment
				program, or was liquidated during his or her tenure or within two years
				thereafter.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 4 - STANDARDS OF REVIEW; DECISIONS › Section 16-25-38 - Branch or relocation applications

Current through June, 2024
The criteria for institutions apply to applications for
				  branches or relocation of offices. Emphasis shall be placed on the financial
				  history and condition of the applicant institution, rather than upon the
				  financial history and condition of the subject branch or office. An application
				  involving a move of an existing office from the one location to another within
				  the same primary market area is of less significance than a relocation to a
				  different primary market area or the establishment of a new
				  branch.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 4 - STANDARDS OF REVIEW; DECISIONS › Section 16-25-41 - Action on application; denial of application

Current through June, 2024
(a) Unless
				otherwise provided by statute, and notwithstanding any other provision of this
				chapter, any complete application which is not approved or denied by the
				commissioner within a period of one year after the application is filed with
				the commissioner, shall be deemed approved by the commissioner as of the first
				day after the period of one year. For purposes of this section, an application
				is deemed to be filed with the commissioner at the time when the complete
				application, including any amendments or supplements, containing all of the
				information in the form required by the commissioner, is received and accepted
				by the commissioner.
(b) If the
				commissioner is satisfied that the applicant meets the relevant criteria, the
				commissioner shall issue a written final decision and order approving the
				application.
(c) If the
				commissioner is not satisfied that the applicant meets the statutory criteria,
				the commissioner shall, unless otherwise provided by statute, issue a written
				decision denying the application, which shall include a statement of the
				reasons for the denial.
Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 25 - APPLICATION PROCEDURES RELATING TO HAWAII FINANCIAL INSTITUTIONS › Subchapter 4 - STANDARDS OF REVIEW; DECISIONS › Section 16-25-42 - Decision denying application subject to administrative hearing; final decision and order

Current through June, 2024
(a) Within fifteen
				days following receipt of a decision denying the application, the applicant may
				petition the commissioner for an administrative hearing which shall be held in
				accordance with chapter 91, HRS, and chapter 16-201.
(b) If a petition for an administrative
				hearing is not filed within the time specified, the commissioner's decision
				denying the application shall become a final decision and order denying the
				application.
(c) Upon the filing of
				a petition for an administrative hearing, and as expeditiously as possible, the
				commissioner shall assign the petition to a hearings officer for further
				proceedings pursuant to chapter 16-201. The commissioner shall issue a written
				final decision and order as expeditiously as possible, following the hearings
				officer's transmittal of the entire record together with the recommended
				decision, any timely filed exceptions, and any timely filed statements in
				support of the recommended decision.
(d) Any written final decision and order of
				the commissioner adverse to the applicant shall be reviewable upon appeal to
				the circuit court of the first circuit, as provided in chapter
				91, HRS.