Out-of-state banks opening branches in Hawaii

(a) An out-of-state bank that does not operate a branch in this State and that meets the requirements of this article may establish and operate a branch in this State. (b) An out-of-state bank that does not operate a branch in this State and that meets the requirements of this article may establish and operate a branch in this State through the acquisition of a branch. (c) An out-of-state bank desiring to establish and operate a branch or to acquire and operate a branch in this State pursuant to this section shall provide to the commissioner written notice of the proposed transaction not later than the date on which the bank applies to the responsible federal bank supervisory agency for approval to establish or acquire the branch. The filing of the notice shall be accompanied by a filing fee of $9,000 or a greater amount as the commissioner may establish by rule pursuant to chapter 91. The filing fee shall be nonrefundable. (d) No branch of an out-of-state bank may be established or acquired in this State under this section, unless: (1) The out-of-state bank confirms in writing to the commissioner that as long as it maintains a branch in this State, it shall comply with all applicable laws of this State; (2) The applicant provides to the commissioner satisfactory evidence of compliance with the applicable requirements of chapter 414 relating to foreign corporations; and (3) The commissioner, acting within thirty days after receiving notice of an application under subsection (c), certifies to the responsible federal bank supervisory agency that the requirements of this article have been met.