HRS §412:5A-201
Applying to start an international banking corporation
A bank must get approval from the commissioner before starting a corporation for foreign or international banking. The bank must use the commissioner's form and provide any requested information. The commissioner can add conditions, like requiring regular reports.
The statute, as written — Application; fee; approval
(a) No bank may establish a corporation to engage in foreign or international banking and other foreign or international financial activities unless it has filed an application with the commissioner and received approval and authority to establish an international banking corporation and to exercise the powers set forth in this part. (b) The application shall be on a form prescribed by the commissioner and shall contain any information that the commissioner may require. (c) In granting authority to a bank to establish an international banking corporation, the commissioner may impose such conditions that are in the public interest, including but not limited to the filing of periodic reports or notices.
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