HRS §412:5-407
Intra-Pacific banks have the same powers and duties as other banks
An intra-Pacific bank that does business in Hawaii has the same powers and duties as any bank chartered by the state. This includes taking deposits, making loans, borrowing money, and investing. It must also file reports with the commissioner and insure its deposits with a federal agency, and it faces the same fines and penalties as other banks.
The statute, as written — Same powers and duties as banks
An intra-Pacific bank engaged in banking in this State shall have all powers and duties allowed by and imposed on all banks chartered by this State, including without limitation the authority to accept deposits, make loans, borrow money and make investments, and the duty to file reports with the commissioner and insure its deposits in this State with a federal agency. An intra-Pacific bank shall also be subject to and liable for all fines and penalties provided by this chapter.
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