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



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



(1)  The name of the financial institution;



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



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



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



(5)  Facts showing the necessity or justification for
the proposed site and that there is a reasonable assurance of sufficient volume
of business so that opening and maintaining the proposed business location will
not jeopardize the solvency of the financial institution; and



(6)  Any other information that the commissioner may
require.



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