HRS §454F-1.6
Who is considered to control a mortgage loan company
This section says when a person is presumed to control a mortgage loan company. You are presumed to control it if you are an executive officer, or if you are a director, general partner, or managing member with certain voting or selling rights over the company's securities.
borrowersmortgage lenders
The statute, as written — Presumption of control
An individual is presumed to control a mortgage loan originator company if that individual is: (1) An executive officer; or (2) A director, general partner, or managing member who directly or indirectly has the right to vote ten per cent or more of a class of voting securities or has the power to sell or direct the sale of ten per cent or more of a class of voting securities of that licensee or applicant.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.