454M-10 Penalty. Any person who violates any provision of this chapter may be subject to an administrative fine of not more than $7,000 for each violation; provided that if the aggregate fine amount exceeds $7,000, $1,000 of the aggregate fine amount shall be deposited into the mortgage foreclosure dispute resolution special fund established pursuant to section 667-86.
Terms Used In Hawaii Revised Statutes 454M-10
- foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- mortgage: The written agreement pledging property to a creditor as collateral for a loan.