§412:3-111  Maintenance of books andrecords.  (a)  Every Hawaii financial institution shall keep its books andrecords in a safe and secure place in this State.  The commissioner mayauthorize such records to be maintained outside this State.

(b)  A nondepository financial services loancompany which is not incorporated in this State shall maintain at its principaloffice in this State all books and records relevant to the transaction of itsbusiness in this State for the purpose of examination by the commissioner undersection 412:2-200; provided that the commissioner may approve in writingspecific books and records which may be maintained outside this State.  For thepurpose of an examination under section 412:2-200, specified books and recordsmaintained outside this State shall be made available for review by thecommissioner within ten business days after the date that a written request forthe specified books and records is made by the commissioner, or at suchsubsequent time as approved in writing by the commissioner.  The commissionermay impose an administrative fine on a nondepository financial services loancompany which fails to make available any specified books or records asrequested by the commissioner under this subsection.  The fine shall not exceed$1,000 for each day that any specified books or records are not made availableas requested by the commissioner.  The fine shall be recovered under section412:2-609.

(c)  A computer service bureau or dataprocessing service may be utilized to process data without obtaining thecommissioner's authorization, provided that the final books and records aremaintained in accordance with subsection (a).

(d)  The books and records of the Hawaiifinancial institution may be maintained as originals or photocopies, onmicrofilm or microfiche, on computer disks or tapes, or similar forms, providedthat they are readily accessible and may be easily examined.

(e)  Records, statements, or reports requiredor authorized by this chapter may be in a spoken language other than Englishprovided that English translations are also maintained.

(f)  No Hawaii financial institution shall berequired to preserve or keep its records or files for a period longer than sixyears, except as specified in subsection (g).

(g)  The following records or files of a Hawaii financial institution shall not be destroyed except in accordance with rules of thecommissioner adopted under chapter 91:

(1)  Minute books of meetings of shareholders,directors, and executive committees;

(2)  Articles of incorporation or association andbylaws, and any amendments thereto;

(3)  Capital stock ledgers; and

(4)  General ledgers and trust ledgers.

These records and files may be maintained inoriginal form or in the form of a photographic, photostatic, microfilm,microcard, miniature photographic, or other reproduction by a durable mediumfor reproducing the original.

(h)  No liability shall accrue against any Hawaii financial institution for its destruction of its records or files in accordance withthis section or the rules adopted hereunder.  A showing by the financialinstitution that its records or files have been destroyed in accordance withthis section or rules adopted hereunder shall be sufficient excuse for thefailure to produce them. [L 1993, c 350, pt of §1; am L 1996, c 63, §3; am L2006, c 228, §13]