[§412:12-107]  Powers; additional branches. (a)  An out-of-state state bank which establishes and operates a branch inHawaii under this article may conduct any activities at the branch that areauthorized under the laws of this State for Hawaii state banks chartered underarticle 5 of this chapter.

(b)  A Hawaii state bank may conduct anyactivities at any branch outside Hawaii that are permissible for a bankchartered by the host state where the branch is located, except to the extentthe activities are expressly prohibited by the laws of this State or by anyrule or order of the commissioner applicable to the Hawaii state bank; providedthat the commissioner may waive any prohibition if the commissioner determines,by order or rule, that the involvement of out-of-state branches of Hawaii statebanks in particular activities would not threaten the safety or soundness ofthose banks.

(c)  An out-of-state bank that has establishedor acquired a branch in Hawaii under this article may establish or acquire additionalbranches or other places of business as authorized pursuant to section412:3-501 in Hawaii to the same extent that any Hawaii bank may establish oracquire a branch or other places of business in Hawaii under applicable federaland state law.

(d)  If an out-of-state bank operates two ormore branches in Hawaii, the out-of-state bank shall designate one of itsbranches as its principal office in this State. [L 1996, c 155, pt of §1]