(a) A Hawaii financial institution may conduct business at one or more of the following places of business, to the extent authorized:

Terms Used In Hawaii Revised Statutes 412:3-501

  • Commissioner: means the commissioner of financial institutions of this State. See Hawaii Revised Statutes 412:1-109
  • deposits: means money or its equivalent received or held by a person in the usual course of business and for which it has given or is obligated to give credit, either conditionally or unconditionally, to a demand, checking, savings, time, passbook, negotiable order of withdrawal, thrift, or share account, or which is evidenced by its passbook, certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument, or a check, draft, or share draft drawn against a deposit account and certified by a person, on which the person is primarily liable. See Hawaii Revised Statutes 412:1-109
  • Financial institution: means a Hawaii financial institution, and unless the context indicates otherwise, a federal financial institution or foreign financial institution. See Hawaii Revised Statutes 412:1-109
  • Hawaii financial institution: means :

    (1) A corporation or credit union that holds a charter or license under this chapter or under prior Hawaii law, authorizing it to accept deposits, to make loans in excess of the rates permitted in chapter 478, or to engage in the business of a trust company; or

    (2) A resulting bank as defined in article 12,

    and includes a corporation or credit union existing and chartered as a Hawaii financial institution or licensed to transact business in this State on July 1, 1993. See Hawaii Revised Statutes 412:1-109

  • Open to the public: means accessible or available to the general public during regular business hours without special permission. See Hawaii Revised Statutes 412:1-109
  • Person: means a natural person, entity or organization, including without limitation an individual, corporation, joint venture, partnership, sole proprietorship, association, cooperative, estate, trust, or governmental unit. See Hawaii Revised Statutes 412:1-109
  • this State: means the State of Hawaii, its political subdivisions, agencies, and departments. See Hawaii Revised Statutes 412:1-109
(1) The principal office of a Hawaii financial institution is the place of business that it designates as its executive headquarters in this State. A financial institution may, but need not, conduct other businesses permitted under its charter or license at its principal office; provided that for the purposes of this section, the terms “principal office”, “home office”, and “main office” are interchangeable;
(2) A branch is a place of business open to the public where a financial institution shall be authorized to conduct all businesses permitted under its charter or license, except for the maintenance of its executive headquarters. A branch does not include an automated teller machine or a remote service unit;
(3) An agency is a place of business open to the public where a financial institution may conduct only specific businesses approved by the commissioner in writing;
(4) An automated teller machine or ATM is a place of business, either at a fixed location or mobile, consisting of an on-line or off-line, staffed or unstaffed, electronic processing device, including associated equipment and structures, that is situated at a premises separate from a financial institution’s principal office, branch, agency, or support facility, at which deposits of cash or instruments, or cash disbursement transactions between a person and one or more financial institutions are accomplished, whether instantaneous or otherwise, through or by means of electronic or automated signals or impulses including the human voice. The term does not include merchant operated terminals, point of sale terminals, and remote service units;
(5) A remote service unit is a place of business, consisting of an on-line or off-line, staffed or unstaffed, electronic processing device, including associated equipment and structures, that is used only for transactions between a financial institution customer and the financial institution, and that is situated at premises separate from a financial institution’s principal office, branch, agency, or support facility, at which deposits of cash or instruments, or cash disbursement transactions, are accomplished, whether instantaneous or otherwise, through or by means of electronic or automated signals or impulses including the human voice; and
(6) A support facility is a place of business that is not generally open to the public, where a financial institution conducts limited types of significant business operations of the financial institution, including but not limited to data processing, clerical activities, and storage.
(b) In addition to conducting business at a place of business described in subsection (a), a Hawaii financial institution may conduct business in any other manner or place necessary or convenient; provided that deposits of cash or instruments shall not be received, checks, negotiable orders of withdrawal, or share drafts shall not be paid, and cash shall not be disbursed, except at an authorized principal office, branch, automated teller machine, or remote service unit, or at any agency or support facility which has been authorized by the commissioner to accept deposits or disburse cash.

  Previous
Next  
 Part V Contents