HRS §412:5A-212
Bank staff cannot buy loans the bank turned down
Read the official text at capitol.hawaii.gov ↗This section stops certain bank workers from buying loans or debts at a discount, or lending money using a receivable as collateral, if they know the bank already refused that loan. If they break this rule, they must pay a civil penalty of twice what they paid for the loan.
employees
The statute, as written — Improper discounting of loans
A copy, taken August 20, 2026. The version published by the Legislature is the one that governs, and it may have changed since. Check it before relying on anything here.
No officer, director, agent or employee of an international banking corporation shall directly or indirectly, as an individual, purchase any loan or other obligation at a discount, or make any loan using a receivable as collateral, when such person knows that the loan or other obligation has been offered to the corporation and has been refused. Any violation of this section shall subject the violator to a civil penalty equal to twice the amount of the consideration given for the loan.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.