(a) Except as otherwise provided in subsection (b), a holder required to file a report under § 523A-8 shall maintain the records containing the information required to be included in the report for ten years after the holder files the report, unless a shorter period is provided by rule of the administrator.

Terms Used In Hawaii Revised Statutes 523A-21

  • Administrator: means the director of finance. See Hawaii Revised Statutes 523A-2
  • Business association: means a corporation, joint stock company, investment company, partnership, unincorporated association, joint venture, limited liability company, business trust, trust company, safe deposit company, financial organization, insurance company, mutual fund, utility, or other business entity consisting of one or more persons, whether or not for profit. See Hawaii Revised Statutes 523A-2
  • Financial organization: means a savings and loan association, financial services loan company, bank, banking organization, or credit union. See Hawaii Revised Statutes 523A-2
  • Holder: means a person obligated to hold for the account of, or deliver or pay to, the owner of property that is subject to this part. See Hawaii Revised Statutes 523A-2
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Hawaii Revised Statutes 523A-2
  • State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or insular possession subject to the jurisdiction of the United States. See Hawaii Revised Statutes 523A-2
(b) A business association or financial organization that sells, issues, or provides to others for sale or issue in this State, traveler’s checks, money orders, or similar instruments other than third-party bank checks, on which the business association or financial organization is directly liable, shall maintain a record of the instruments while they remain outstanding, indicating the state and date of issue, for three years after the holder files the report.

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