ARTICLE2.  DIVISION OF FINANCIAL INSTITUTIONS

 

PART I. ADMINISTRATION

 

§412:2-100  Commissioner of financialinstitutions; division of financial institutions.  (a)  The director ofcommerce and  consumer affairs, with the approval of the governor, shall appoint the commissioner of financial institutions.  The  commissioner shall bein charge of the division of financial  institutions within the department ofcommerce and consumer  affairs.  The commissioner shall be the primaryregulator of Hawaii financial institutions, and shall have the authority expressly conferred by or reasonably implied from the provisions of thischapter.  The commissioner may be removed by the director of commerce andconsumer affairs with the approval of the  governor; provided that while thereis any vacancy in the office of the commissioner, the director of commerce andconsumer affairs shall serve as ex officio commissioner.  The commissionershall not be subject to chapter 76.

(b)  The salary of the commissioner shall be setby the  director of commerce and consumer affairs but shall not be more thanthe maximum salary of first deputy to the director of commerce and consumeraffairs.

(c)  It shall be the primary purpose of thedivision of financial institutions to ensure the safety and soundness of Hawaiifinancial institutions and to maintain public confidence in such institutionsthrough the process of chartering and licensing, regulatory approval,examinations and supervision. [L 1993, c 350, pt of §1; am L 2000, c 253, §150;am L 2005, c 226, §13]