[ARTICLE 12.]  INTERSTATE BRANCHING AND BANK

MERGERS

Terms Used In Hawaii Revised Statutes 412:12-101

  • assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Company: means any corporation, partnership, trust (business or otherwise), association, joint venture, pool syndicate, unincorporated organization, or any form of business entity not specifically listed herein and, unless specifically excluded, a financial institution; provided that "company" does not mean any trust existing on July 1, 1993, which under its terms must terminate within twenty-five years, or not later than twenty-one years and ten months after the death of individuals living on the effective date of the trust. See Hawaii Revised Statutes 412:1-109
  • 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.
  • 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
  • Federal: means belonging to, part of, or related to the government of the United States of America. See Hawaii Revised Statutes 412:1-109
  • federal deposit insurance corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • federal reserve system: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Holding company: means any company which controls another company. See Hawaii Revised Statutes 412:1-109
  • national bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • 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
  • this State: means the State of Hawaii, its political subdivisions, agencies, and departments. See Hawaii Revised Statutes 412:1-109

 

      412:12-101  Definitions.  As used in this article, unless a different meaning is required by the context, the following words and phrases shall have the following meanings:

     “Acquisition of a branch” means the acquisition of a branch located in a host state, without engaging in an “interstate merger transaction” as defined in this article.

     “Bank” has the meaning set forth in 12 U.S.C. section 1813(h); provided that the term “bank” shall not include any “foreign bank” as defined in 12 U.S.C. section 3101(7), except that the term “bank” shall include any foreign bank organized under the laws of a territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands, the deposits of which are insured by the Federal Deposit Insurance Corporation.

     “Bank holding company” has the meaning set forth in 12 U.S.C. section 1841(a)(1).

     “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.

     “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.  The term does not include an automated teller machine as defined in section 412:3-501.

     “Control” shall be construed consistently with 12 U.S.C. section 1841(a)(2).

     “De novo branch” means a branch of a bank located in a host state which:

     (1)  Is originally established by the bank as a branch; and

     (2)  Does not become a branch of the bank as a result of (A) the acquisition of another bank or a branch of another bank, or (B) the merger, consolidation, or conversion involving any bank or branch.

     “Foreign bank” has the meaning set forth in 12 U.S.C. section 3101(7).

     “Hawaii bank” means a bank whose home state is Hawaii.

     “Hawaii state bank” means a bank chartered under the laws of Hawaii.

     “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.S.C. section 3103(c).

     “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.

     “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.

     “Interstate merger transaction” means:

     (1)  The merger or consolidation of banks with different home states, and the conversion of branches of any bank involved in the merger or consolidation into branches of the resulting bank; or

     (2)  The purchase of all or substantially all of the assets (including all or substantially all of the branches) of a bank whose home state is different from the home state of the acquiring bank.

     “Out-of-state bank” means a bank whose home state is a state other than Hawaii.

     “Out-of-state state bank” means a bank chartered under the laws of any state other than Hawaii.

     “Resulting bank” means a bank that has resulted from an interstate merger transaction under this article.

     “State”, whenever this word is used in its uncapitalized form, means any state of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands.