ARTICLE
2.  DIVISION OF FINANCIAL INSTITUTIONS



 



PART I. 
ADMINISTRATION



 



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



(b)  The salary of the commissioner shall be set
by the  director of commerce and consumer affairs but shall not be more than
the maximum salary of first deputy to the director of commerce and consumer
affairs.



(c)  It shall be the primary purpose of the
division of financial institutions to ensure the safety and soundness of Hawaii
financial institutions and to maintain public confidence in such institutions
through 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]