PART II. EXAMINATIONS

 

§412:2‑200  Examinations.  (a) The commissioner shall examine each Hawaii financial institution at least onceevery twenty-four months, or more frequently as the commissioner may determine.

(b)  The purpose of every examination shall beto ensure that such Hawaii financial institution is not engaging in illegal,unsafe, or unsound practices, that its management, business practices, andpolicies are prudent and sound, that it is able to meet all its obligationswhen due, and that it is complying with all applicable laws.  With respect toexaminations of nondepository financial services loan companies, thecommissioner may limit the scope of the examination to compliance with allapplicable laws and rules.

(c)  The commissioner shall have full access tothe vaults, books and papers of each Hawaii financial institution beingexamined, except for the contents of safe deposit boxes leased to customers,and may make such inquiries as may be necessary to ascertain the condition ofsuch institution.  To the best of their knowledge and ability, and subject tothe availability of privileges or immunities under state or federal law, alldirectors, incorporators, officers, employees, and agents of an institutionbeing examined shall cooperate fully with the commissioner and thecommissioner's examiners, shall answer all inquiries and shall furnish allinformation pertaining to such inquiries. [L 1993, c 350, pt of §1]