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



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



(2)  The solicitation of new business;



(3)  The conduct of research; and



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



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



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