§412:3-507  Closing branch or agency;temporary closures and relocations.  (a)  A Hawaii financial institutionshall give the commissioner prior notice of its intent to close any branch oragency 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 otherauthorized officer of the institution that the decision to close was dulyapproved by its board of directors.

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

(b)  A Hawaii financial institution maytemporarily close or relocate a branch or agency for a period of time up to onehundred eighty days, or a longer time period as determined necessary by thecommissioner in the event of an emergency or for other good cause.  Forpurposes of this section, an emergency means a situation of an unusual orcompelling urgency that creates a threat to life, public health, welfare, orsafety by reason of major natural disaster, epidemic, riot, fire, or otherreason as determined by the commissioner.  Written notice of a temporaryclosure or relocation shall be provided to the commissioner and to the Hawaiifinancial institution's customers as soon as practicable, and shall state:

(1)  The reasons for the temporary closure orrelocation;

(2)  The expected date of reopening; and

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

The notice provided to the Hawaii financialinstitution'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 thebranch 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 orrelocated shall be provided to the commissioner within five days of thereopening.  Written notice to the commissioner of temporary closure andsubsequent reopening of a branch or agency shall not be required when theHawaii 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]