§412:13-217  Representative office; factors
for approval of application.  (a)  The commissioner shall issue a license
to a foreign bank to establish and maintain a Hawaii representative office 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 representative office are of good moral
character, competent, and sufficiently experienced; and



(3)  The convenience and needs of persons to be served
by the proposed Hawaii representative office will be promoted.



(b)  In considering whether the management of
the foreign bank and the proposed management of the Hawaii representative
office is of good moral character for the purposes of subsection (a), 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.



(c)  If the commissioner approves the
application of the foreign bank for a license to establish and maintain a
Hawaii representative office, 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 representative office to the
foreign bank.



(d)  Each license issued to a foreign bank to
establish and maintain a Hawaii representative office shall state fully the
name of the foreign bank to which the license is issued, the address or
addresses at which the Hawaii representative office is to be located, and any
other information as the commissioner may require. [L 1996, c 155, pt of §2; am
L 2001, c 170, §18; am L 2002, c 40, §39]