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



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



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



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



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



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



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



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



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



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



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



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



(5)  Wilfully committed any violation of, or has
wilfully aided, abetted, counseled, commanded, induced, or procured the
violation by any other person of, any provision of this chapter or of any rule
or order issued under this chapter.



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



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



(g)  The commissioner may waive some of the
requirements, procedures, and standards applicable to applications to establish
additional intrastate Hawaii state branches or Hawaii state agencies if the
foreign bank has already established an initial Hawaii state branch or Hawaii
state agency.



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