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



(b)  A nondepository financial services loan
company which is not incorporated in this State shall maintain at its principal
office in this State all books and records relevant to the transaction of its
business in this State for the purpose of examination by the commissioner under
section 412:2-200; provided that the commissioner may approve in writing
specific books and records which may be maintained outside this State.  For the
purpose of an examination under section 412:2-200, specified books and records
maintained outside this State shall be made available for review by the
commissioner within ten business days after the date that a written request for
the specified books and records is made by the commissioner, or at such
subsequent time as approved in writing by the commissioner.  The commissioner
may impose an administrative fine on a nondepository financial services loan
company which fails to make available any specified books or records as
requested 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 available
as requested by the commissioner.  The fine shall be recovered under section
412:2-609.



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



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



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



(f)  No Hawaii financial institution shall be
required to preserve or keep its records or files for a period longer than six
years, 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 the
commissioner adopted under chapter 91:



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



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



(3)  Capital stock ledgers; and



(4)  General ledgers and trust ledgers.



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



(h)  No liability shall accrue against any Hawaii financial institution for its destruction of its records or files in accordance with
this section or the rules adopted hereunder.  A showing by the financial
institution that its records or files have been destroyed in accordance with
this section or rules adopted hereunder shall be sufficient excuse for the
failure to produce them. [L 1993, c 350, pt of §1; am L 1996, c 63, §3; am L
2006, c 228, §13]