§412:3-507  Closing branch or agency;
temporary closures and relocations.  (a)  A Hawaii financial institution
shall give the commissioner prior notice of its intent to close any branch or
agency at least thirty days prior to the closing.  The notice shall specify:



(1)  The intended date of closing;



(2)  The reasons for the closing; and



(3)  A certification by the secretary or other
authorized officer of the institution that the decision to close was duly
approved by its board of directors.



This notice may be satisfied by providing to the
commissioner a copy of any notice pertaining to the closure given to the
financial institution's appropriate federal regulatory agency.



(b)  A Hawaii financial institution may
temporarily close or relocate a branch or agency for a period of time up to one
hundred eighty days, or a longer time period as determined necessary by the
commissioner in the event of an emergency or for other good cause.  For
purposes of this section, an emergency means a situation of an unusual or
compelling urgency that creates a threat to life, public health, welfare, or
safety by reason of major natural disaster, epidemic, riot, fire, or other
reason as determined by the commissioner.  Written notice of a temporary
closure or relocation shall be provided to the commissioner and to the Hawaii
financial institution's customers as soon as practicable, and shall state:



(1)  The reasons for the temporary closure or
relocation;



(2)  The expected date of reopening; and



(3)  Information regarding where and how customers of
the closed or relocated branch or agency will be accommodated during the
temporary closure or relocation.



The notice provided to the Hawaii financial
institution's customers shall be in the form of a sign posted in a safe,
conspicuous location on or in proximity to the primary public entrance of the
branch or agency that has been or will be temporarily closed or relocated. 
Notice of the reopening of the branch or agency that was temporarily closed or
relocated shall be provided to the commissioner within five days of the
reopening.  Written notice to the commissioner of temporary closure and
subsequent reopening of a branch or agency shall not be required when the
Hawaii financial institution reopens at that location within two business days.
[L 1993, c 350, pt of §1; am L 2008, c 196, §5; am L 2009, c 107, §1]