Hawaii Revised Statutes 412:5A-207 – Deposit of corporate funds
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Hawaii Revised Statutes 412:5A-207
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Federal: means belonging to, part of, or related to the government of the United States of America. 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
- international banking corporation: means a corporation which has authority to operate as an international banking corporation under this part and has been required to use the term "international banking corporation" or such other term approved by the commissioner and containing the word "international" "foreign" "overseas" or some similar word as part of its name. See Hawaii Revised Statutes 412:5A-200
No international banking corporation shall deposit its funds with another financial institution except in a federal reserve bank, unless the other financial institution has been designated a depository by the board of directors of the international banking corporation.