(a) To the extent consistent with subsection (c), the commissioner may examine any branch established and maintained in this State pursuant to this article by an out-of-state state bank as the commissioner deems necessary to determine whether the branch is being operated in compliance with the laws of this State and in accordance with safe and sound banking practices. Sections 412:2-105 and 412:2-200 shall apply to the examinations of the out-of-state state banks in the same manner as to the examinations of Hawaii financial institutions.

Terms Used In Hawaii Revised Statutes 412:12-108

  • Bank: has the meaning set forth in 12 U. See Hawaii Revised Statutes 412:12-101
  • Bank supervisory agency: means :

    (1) Any agency of another state with primary responsibility for chartering and supervising banks; and

    (2) The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and any successor to these agencies. See Hawaii Revised Statutes 412:12-101

  • Branch: means a place of business of a bank, other than its main office, which is open to the public and at which deposits are received and paid. See Hawaii Revised Statutes 412:12-101
  • Commissioner: means the commissioner of financial institutions of this State. See Hawaii Revised Statutes 412:1-109
  • Hawaii state bank: means a bank chartered under the laws of Hawaii. See Hawaii Revised Statutes 412:12-101
  • Home state: means :

    (1) With respect to a state bank, the state by which the bank is chartered;

    (2) With respect to a national bank, the state in which the main office of the bank is located; and

    (3) With respect to a foreign bank, the state determined to be the home state of the foreign bank under 12 U. See Hawaii Revised Statutes 412:12-101

  • Home state regulator: means , with respect to an out-of-state state bank, the bank supervisory agency of the state in which the bank is chartered. See Hawaii Revised Statutes 412:12-101
  • Host state: means a state, other than the home state of a bank, in which the bank maintains, or seeks to establish and maintain a branch. See Hawaii Revised Statutes 412:12-101
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Out-of-state bank: means a bank whose home state is a state other than Hawaii. See Hawaii Revised Statutes 412:12-101
  • Out-of-state state bank: means a bank chartered under the laws of any state other than Hawaii. See Hawaii Revised Statutes 412:12-101
  • this State: means the State of Hawaii, its political subdivisions, agencies, and departments. See Hawaii Revised Statutes 412:1-109
(b) The commissioner may require periodic reports regarding any out-of-state bank that operates a branch in Hawaii pursuant to this article. The required reports shall be provided by the bank or by the bank supervisory agency having primary responsibility for the bank. Any reporting requirements prescribed by the commissioner under this subsection shall be (1) consistent with the reporting requirements applicable to Hawaii state banks and (2) appropriate for the purpose of enabling the commissioner to carry out the commissioner’s responsibilities under this chapter.
(c) The commissioner may enter into cooperative, coordinating, and information-sharing agreements with any other bank supervisory agencies or any organization affiliated with or representing one or more bank supervisory agencies with respect to the periodic examination or other supervision of any branch in Hawaii of an out-of-state state bank, or any branch of a Hawaii state bank in any host state, and the commissioner may accept the parties’ reports of examination and reports of investigation in lieu of conducting the commissioner’s own examinations or investigations.
(d) The commissioner may enter into contracts with any bank supervisory agency that has concurrent jurisdiction over a Hawaii state bank or an out-of-state state bank operating a branch in this State pursuant to this article to engage the services of the agency’s examiners at a reasonable rate of compensation, or to provide the services of the commissioner’s examiners to the agency at a reasonable rate of compensation.
(e) The commissioner may enter into joint examinations or joint enforcement actions with other bank supervisory agencies having concurrent jurisdiction over any branch in Hawaii of an out-of-state state bank or any branch of a Hawaii state bank in any host state; provided that the commissioner at any time may take action independently if the commissioner deems the action to be necessary or appropriate to carry out the commissioner’s responsibilities under this article or to ensure compliance with the laws of this State; provided further that, in the case of an out-of-state state bank, the commissioner shall recognize the exclusive authority of the home state regulator over corporate governance matters and the primary responsibility of the home state regulator with respect to safety and soundness matters.
(f) Each out-of-state state bank that maintains one or more branches in this State may be assessed and, if assessed, shall pay supervisory, examination, and other fees in accordance with the laws of this State and rules of the commissioner. The fees may be shared with other bank supervisory agencies or any organization affiliated with or representing one or more bank supervisory agencies in accordance with agreements between the parties and the commissioner.

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