§412:3-509  Out-of-state branch or
agency.  A Hawaii financial institution maintaining a branch or agency
outside of this State shall be subject to the following requirements:



(1)  The accounts of each out-of-state branch or
agency of the financial institution shall be maintained independently of the
accounts of all its other out-of-state branches or agencies, and independently
of its offices, branches, and agencies in this State.  At the end of every
quarter of its fiscal year the financial institution shall transfer to its
general ledger at its principal office the profit and loss from each
out-of-state branch or agency as separate items;



(2)  The commissioner may at any time conduct
examinations of any out-of-state branch or agency and may at any time order its
discontinuance for the same reasons as a branch or agency within the State may
be ordered to be discontinued.  The financial institution maintaining the
out-of-state branch or agency shall pay for the cost of all examinations, as
provided in section 412:2‑105; and



(3)  A financial institution may act as the fiscal
agent of the United States through any of its out-of-state branches or
agencies. [L 1993, c 350, pt of §1]