[§412:13-218]  Representative office;permissible activities.  (a)  A foreign bank which is licensed to establishand maintain a Hawaii representative office, subject to any rules as thecommissioner may prescribe, may engage in the following activities:

(1)  Solicitation for loans and in connectiontherewith the assembly of credit information, making of property inspectionsand appraisals, securing of title information, preparation of applications forloans including making recommendations with respect to action thereon,solicitation of investors to purchase loans from the foreign bank, and thesearch for investors to contract with the foreign bank for servicing of theloans;

(2)  The solicitation of new business;

(3)  The conduct of research; and

(4)  Back office administrative functions as may bemore specifically defined in rules issued by the commissioner.

Any other activity which the foreign bank seeks toconduct at the office shall be subject to the prior written approval of thecommissioner by general rule or upon application in a form as the commissionershall require.

(b)  Notwithstanding subsection (a), a Hawaiirepresentative office that is a regional administrative office of the foreignbank, as may be defined more fully by the commissioner in rules and orders, mayengage in credit approval activities provided that (1) the foreign bank giveforty-five days prior written notice to the commissioner; and (2) thecommissioner does not object within the forty-five day period to the conduct ofthe activities by the Hawaii representative office.  Written notice under thissubsection shall be in a form and contain any information as the commissionershall require. [L 1996, c 155, pt of §2]