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



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