HRS §412:13-207
Foreign banks cannot have both state and federal branches
This section stops foreign banks from running a Hawaii state branch or agency at the same time as a federal branch or agency in Hawaii. If a bank already has a federal branch, it cannot get a state license. If it has a state license, it cannot also have a federal branch.
The statute, as written — No concurrent maintenance of federal branches or agencies
(a) No foreign bank that is licensed under this article to establish and maintain a Hawaii state branch or Hawaii state agency shall concurrently maintain a federal branch or federal agency in this State. (b) No foreign bank that maintains a federal branch or federal agency in this State shall concurrently be licensed under this article to maintain a Hawaii state branch or Hawaii state agency.
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