PART III. COMMERCIAL AND PERSONAL LOANS

 

Note

 

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

 

§209-26  Administration.  (a)  Except asotherwise provided, the director of business, economic development, and tourismis designated as the administrator responsible for the administration of thispart.  The director shall:

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

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

(b)  The department may contract with anyfinancial institution for services including servicing or administering loanspursuant to this section.

(c)  For purposes of this section,"financial institution" means any organization authorized to dobusiness under state or federal laws relating to financial institutions,including without limitation, banks, savings banks, savings and loan companiesor 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.