[§412:13-227]  Voluntary closure of branch,
agency, or representative office; application.  (a)  No foreign bank that
is licensed to establish and maintain a Hawaii state branch, Hawaii state
agency, or Hawaii representative office shall close the office without filing
an application with, and obtaining the prior approval of, the commissioner. 
The application filed by a foreign bank under this section shall include the
following information:



(1)  The reasons for the closure of the office;



(2)  The current financial condition of the bank in a
form prescribed by the commissioner;



(3)  The current business being conducted in the
State, and an indication of the assets and liabilities attributable to business
conducted in this State;



(4)  A list of all creditors of the bank's business in
this State, and their outstanding balances; and



(5)  Any other information as the commissioner may
require.



(b)  If the commissioner finds, with respect to
an application by a foreign bank under this section, that the closing of the
office will not be substantially detrimental to the public convenience and
advantage, the commissioner shall approve the application.  If the commissioner
finds otherwise, the commissioner shall deny the application.



(c)  Whenever an application by a foreign bank
under this section has been approved and all conditions precedent to the
closing have been fulfilled, the foreign bank may close the office and shall
promptly thereafter surrender to the commissioner the license which authorized
the foreign bank to maintain the office. [L 1996, c 155, pt of §2]