§412:13-203  Application to establish andmaintain a branch or agency; manner of filing and determination.  (a)  Aforeign bank making an application under this article for a license toestablish and maintain a Hawaii state branch or Hawaii state agency shalldeliver to the commissioner,together with the application, two copies of its charter or articles ofincorporation and all amendments thereto, duly authenticated by the properofficer of the country of the foreign bank's organization, or a greater numberof copies as the commissioner may require by rule.  If the charter, articles ofincorporation, or amendments are in a foreign language, two copies (or agreater number of copies as the commissioner may require by rule) of an Englishtranslation of the documents under the oath of the translator shall accompanythe charter, articles of incorporation, or amendments.

(b)  The commissioner shall issue a license toa foreign bank to establish and maintain a Hawaii state branch or Hawaii stateagency if the commissioner finds that:

(1)  The foreign bank is in good standing under thelaws of the country in which it is organized and is in sound financialcondition;

(2)  The management of the foreign bank and theproposed management of the Hawaii state branch or Hawaii state agency are ofgood moral character, competent, and sufficiently experienced;

(3)  The convenience and needs of persons to be servedby the proposed Hawaii state branch or a Hawaii state agency will be promoted;and

(4)  The foreign bank satisfies any other standardsthat the commissioner may establish by rule.

(c)  In considering whether a foreign bank isin sound financial condition for the purposes of subsection (b), thecommissioner may consider the length of time the foreign bank has engaged inthe banking business, the asset size of the bank, and any other criteria whichthe commissioner deems relevant.  The commissioner may presume, in the absenceof creditable evidence to the contrary, that a foreign bank that has totalassets having an aggregate value in United States currency of $10,000,000,000or more and that has engaged in the banking business for at least ten yearsprior to filing an application pursuant to this article is in sound financialcondition.

(d)  In considering whether the management ofthe foreign bank and the proposed management of the Hawaii state branch orHawaii state agency is of good moral character for the purposes of subsection(b), the commissioner may presume that in the absence of creditable evidence tothe contrary, the management is of good moral character.  The presumption maybe rebutted by evidence to the contrary, including, but not limited to afinding that a person has:

(1)  Been convicted of, or has pleaded nolo contendereto, any crime involving an act of fraud or dishonesty;

(2)  Consented to or suffered a judgment in any civilaction based upon conduct involving an act of fraud or dishonesty;

(3)  Consented to or suffered the suspension orrevocation of any professional, occupational, or vocational license based uponconduct involving an act of fraud or dishonesty;

(4)  Wilfully made or caused to be made in anyapplication or report filed with the commissioner, or in any proceeding beforethe commissioner, any statement which was at the time and in the light of thecircumstances under which it was made false or misleading with respect to anymaterial fact, or has wilfully omitted to state in any application or reportany material fact which was required to be stated therein; or

(5)  Wilfully committed any violation of, or haswilfully aided, abetted, counseled, commanded, induced, or procured theviolation by any other person of, any provision of this chapter or of any ruleor order issued under this chapter.

(e)  If the commissioner approves the applicationof the foreign bank for a license to establish and maintain a Hawaii statebranch or Hawaii state agency, the foreign bank shall then provide satisfactoryevidence to the commissioner of compliance with the requirements of chapter 414relating to foreign corporations, if applicable.  The commissioner shall thenissue a license to establish and maintain a Hawaii state branch or Hawaii stateagency to the foreign bank.

(f)  Each license issued to a foreign bank toestablish and maintain a Hawaii state branch or Hawaii state agency shall statefully the name of the foreign bank to which the license is issued, and anyother information as the commissioner may require.

(g)  The commissioner may waive some of therequirements, procedures, and standards applicable to applications to establishadditional intrastate Hawaii state branches or Hawaii state agencies if theforeign bank has already established an initial Hawaii state branch or Hawaiistate agency.

(h)  If a foreign bank operates two or moreHawaii state branches or Hawaii state agencies, the foreign bank shalldesignate one of the offices as its principal office in this State. [L 1996, c155, pt of §2; am L 2001, c 170, §§15, 16; am L 2002, c 40, §37]