(a) The commissioner shall examine each Hawaii financial institution at least once every twenty-four months, or more frequently as the commissioner may determine.

Terms Used In Hawaii Revised Statutes 412:2-200

  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Commissioner: means the commissioner of financial institutions of this State. 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
  • 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

(b) The purpose of every examination shall be to ensure that such Hawaii financial institution is not engaging in illegal, unsafe, or unsound practices, that its management, business practices, and policies are prudent and sound, that it is able to meet all its obligations when due, and that it is complying with all applicable laws. With respect to examinations of nondepository financial services loan companies, the commissioner may limit the scope of the examination to compliance with all applicable laws and rules.
(c) The commissioner shall have full access to the vaults, books and papers of each Hawaii financial institution being examined, except for the contents of safe deposit boxes leased to customers, and may make such inquiries as may be necessary to ascertain the condition of such institution. To the best of their knowledge and ability, and subject to the availability of privileges or immunities under state or federal law, all directors, incorporators, officers, employees, and agents of an institution being examined shall cooperate fully with the commissioner and the commissioner’s examiners, shall answer all inquiries and shall furnish all information pertaining to such inquiries.

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