PART III. 
COMMERCIAL AND PERSONAL LOANS



 



Note



 



  Part heading amended
by L 1976, c 205, §1(2).



 



§209-26  Administration.  (a)  Except as
otherwise provided, the director of business, economic development, and tourism
is designated as the administrator responsible for the administration of this
part.  The director shall:



(1)  Administer loans for the purpose and according to
this part; and



(2)  Adopt rules to carry out the purposes of this
part.



(b)  The department may contract with any
financial institution for services including servicing or administering loans
pursuant to this section.



(c)  For purposes of this section,
"financial institution" means any organization authorized to do
business under state or federal laws relating to financial institutions,
including without limitation, banks, savings banks, savings and loan companies
or associations, financial services loan companies, and credit unions. [L 1961,
c 189, §12; am L 1963, c 2, §3; Supp, §98P-12; HRS §209-26; ree L 1976, c 205,
§1(2); am L 1987, c 336, §7; am L 1990, c 293, §8; am L 1998, c 118, §6]



 



Cross References



 



  Rulemaking procedure,
see chapter 91.