HRS §201H-107
Loan servicing and custody contracts
This section lets the corporation hire someone to service and hold its loans. The contract can pay fees, but only if they are the usual, customary, and reasonable amount for those services. It does not set any specific fee amounts or deadlines.
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The statute, as written — Loans; service and custody
The corporation may contract for the service and custody of its loans. The contract may provide for the payment of fees or charges for the services rendered; provided that the fees or charges shall not exceed the usual, customary, and reasonable charges for the services rendered.
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