[§412:13-101]  Application to existingforeign banks.  (a)  The licenses of foreign banks to open and maintainagency offices and representative offices in this State which were grantedbefore and which are in effect on June 1, 1997, are not invalidated by theenactment of this article nor by any change made in the requirements forlicensing of foreign bank offices, nor by the repeal of the laws under whichthey were licensed.

(b)  The provisions of this article shall applyto all agency and representative offices of foreign banks which were licensedunder previous laws of this State and which are in operation on June 1,1997, except as provided in this section.

(c)  With the enactment of this article,non-depository agency offices of foreign banks which were licensed underprevious laws of this State and are in operation on June 1, 1997, shallhave all of the powers and authority of a Hawaii state agency under thisarticle, except that the non-depository agency office shall not accept anydeposits pursuant to section 412:13‑208, and as long as deposits are notaccepted, the non-depository agency office shall not be required to comply withsection 412:13-213.  Notwithstanding the foregoing provision, nothing shallprohibit the foreign bank operating a non-depository agency office from filingan application under section 412:13-205 to amend its license. [L 1996, c 155,pt of §2]