§412:13-215 - Representative office of foreign banks; necessity of licensure.

[§412:13-215]  Representative office offoreign banks; necessity of licensure.  (a)  No foreign bank shallestablish or maintain a Hawaii representative office unless the foreign bank islicensed by the commissioner to maintain a Hawaii representative office.

(b)  Nothing in subsection (a) shall be deemedto prohibit a foreign bank which maintains a federal agency or federal branchin this State from establishing or maintaining one or more Hawaiirepresentative offices. [L 1996, c 155, pt of §2]