Establishment of interstate branches in this State by out-of-state foreign banks
HRS §412:13-301
in effect412:13-301. Establishment of interstate branches in this State by out-of-state foreign banks
(a) Except as provided in subsection (b), an out-of-state foreign bank may establish an interstate Hawaii state branch in the same manner (including by merger or other transactions under section 44 of the Federal Deposit Insurance Act, and comparable provisions of the laws of this State, with Hawaii banks or other institutions) as, and generally subject to the same criteria, standards, conditions, requirements, and procedures applicable to the establishment of interstate branches in this State by, an out-of-state bank having the same home state in the United States, notwithstanding any provision of the laws or rules of this State to the contrary.
(b) Notwithstanding subsection (a), the
commissioner:
(1) Shall apply to the establishment of an initial
interstate Hawaii state branch, and subsequent intrastate Hawaii state
branches, of any out-of-state foreign bank the same criteria, standards,
conditions, requirements, and procedures applicable under part II of this
article, or rules thereunder to the establishment of an initial Hawaii state
branch, and of subsequent intrastate Hawaii state branches, respectively;
(2) May apply any other criteria, standards,
conditions, requirements, or provisions of the laws or rules of this State that
are determined by the commissioner to be substantially equivalent to or
consistent with criteria, standards, conditions, requirements, or provisions of
federal law or regulation generally applicable to the establishment of branches
in the United States by foreign banks or specifically applicable to the
establishment of a branch in the United States by the applicant foreign bank;
(3) May by rule or order allow an out-of-state
foreign bank:
(A) To acquire an individual branch of any
"insured bank" within the meaning of section 3(h) of the Federal
Deposit Insurance Act (12 U.S.C. 1813(h)), or of any other depository
institution, including another foreign bank, without acquiring the entire bank
or other institution; or
(B) To acquire or merge with another foreign
bank maintaining a Hawaii state branch or agency and thereafter continue
operations as its own; and
(C) To acquire or establish an interstate
Hawaii state branch through any other means not inconsistent with section 5 of
the federal International Banking Act (12 U.S.C. 3103).
[L 1996, c 155, pt of
§2]
Source: Hawaii State Legislature (capitol.hawaii.gov), via Internet Archive capturesURL: https://www.capitol.hawaii.gov/hrscurrent/Vol08_Ch0401-0429/HRS0412/HRS_0412-0013-0301.htmFetched: 11/10/2026