§412:3-503  Opening or relocatingprincipal office, branch, or agency.  (a)  No Hawaii financial institutionmay relocate its [principal] office to another location in this State, or openor relocate any branch or agency within or outside of this State without thecommissioner's prior written approval; provided, that approval shall not berequired if the relocation will be less than one mile from the institution'spresent place of business, the institution gives the commissioner writtennotice at least twenty days prior to the move, the type of business carried onat the new place of business will be the same as at the present place ofbusiness, and there will be no financial involvement in the relocation by adirector, executive officer, or principal shareholder, or a related interest ofany of these persons.

(b)  The institution shall file an applicationwith the commissioner.  The application shall be in a form prescribed by thecommissioner and shall be accompanied by a fee the amount of which shall be establishedby rule.  The application shall contain the following information:

(1)  The name of the financial institution;

(2)  The specific location of the proposed site of theprincipal office, branch or agency;

(3)  The anticipated opening date and, if open for aspecified period, the end of such period;

(4)  The nature of the business or transactionsintended to be carried on at the location;

(5)  Facts showing the necessity or justification forthe proposed site and that there is a reasonable assurance of sufficient volumeof business so that opening and maintaining the proposed business location willnot jeopardize the solvency of the financial institution; and

(6)  Any other information that the commissioner mayrequire.

(c)  If after appropriate examination andinvestigation, the commissioner is satisfied that the proposed opening orrelocation is justified and proper, the commissioner shall approve theapplication in writing, with any conditions as the commissioner deemsappropriate.  Upon payment by a financial services loan company of the initiallicense fee for the new branch or agency, or the reissuance of license fee forthe relocated office as established by rule pursuant to chapter 91, thecommissioner shall issue a license for the new or relocated office. [L 1993, c350, pt of §1]