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

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

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

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