PART II. 
LOANS MADE BY FOREIGN LENDERS



AND
CERTAIN OTHER ACTIVITIES OF SUCH LENDERS



 



§207-11  Definitions.  As used in this
part:



"Employee benefit plan" means any
plan, fund, or program which was heretofore or is hereafter established in and
under the laws of a state other than Hawaii by an employer or by an employee
organization, or both, for the purpose of providing for its participants or
their beneficiaries, through the purchase of insurance or annuity contracts or
otherwise, medical, surgical, or hospital care or benefits, or benefits in the
event of sickness, accident, disability, death, or unemployment, or retirement
benefits, and includes any profit-sharing plan which provides benefits at or
after retirement.  As used in the preceding sentence, the term "employee
organization" means any labor union or any organization of any kind, or
any agency or employee representation committee, association, group, or plan in
which employees participate and which exists for the purpose, in whole or in
part, of dealing with employers concerning an employee benefit plan or other
matters incidental to employment relationships or any employees' beneficiary
association organized for the purpose, in whole or in part, of establishing
such a plan.



"Foreign lender" means (A) "a
depository institution" as defined in section 501(a)(2) of the federal
Depository Institutions Deregulation and Monetary Control Act of 1980, a
"real estate investment trust" as defined in the Internal Revenue
Code, an insurance company, the principal office of which is in another state,
whether incorporated or unincorporated and whether acting in its individual
capacity or in a fiduciary capacity, (B) the trustee or trustees from time to
time in office of any employee benefit plan, (C) a lender approved by the
Secretary of the United States Department of Housing and Urban Development for
participation in any mortgage insurance program under the National Housing Act,
(D) any corporation of which all of the capital stock (except the directors'
qualifying shares) is owned by one or more foreign lenders specified in (A),
(B), and (C), and (E) any corporation of which all of the capital stock (except
for the directors' qualifying shares) is owned by one or more foreign lenders
specified in (D), but the term "foreign lender" does not include any
financial services loan company licensed under article 9 of chapter 412.



"Loans" means obligations secured by
liens upon real property, or any interest in real property, situated in this
State, which liens may also cover such personal property as is or may from time
to time be affixed or attached to or located on or in or about the real
property or any improvements thereon or thereto, and include obligations
secured by liens upon real property or interests therein situated both within
and without this State.



"State" means any of the United
States, the District of Columbia, Guam, the Commonwealth of Puerto Rico, and
Virgin Islands. [L 1961, c 194, §8; Supp, §98L-8; HRS §207-11; am L 1970, c 4,
§1; am L 1983, c 61, §1; am L 1989, c 266, §3; am L 1993, c 350, §8]