Ask Reggi Your Question Now
Can you summarize HIRS 412:3-202?
Organization of Banks, Savings Banks, Savings and Loan Associations, Trust Companies and Depository Financial Services Loan Companies > Additional requirements for holding company.
Short Summary
This legal document outlines the additional information that an applicant for the organization of a Hawaii financial institution, which will be a subsidiary of a holding company, must provide to the commissioner. The required information includes a certificate of proper organization for the holding company if it is a corporation, details of existing and proposed affiliates and subsidiaries, biographical information for executive officers and directors, shareholder information, proposed capital plan and stock solicitation plan, articles of incorporation and bylaws of the holding company, evidence of financial ability and experience, employment agreements for executive officers, and any other information requested by the commissioner. The document does not mention any exemptions or penalties.
Whom does it apply to?
Applicants for the organization of a Hawaii financial institution that will be a subsidiary of a holding company
What does it govern?
Additional requirements for holding company
What are exemptions?
Exemptions are not mentioned
What are the Penalties?
Penalties are not mentioned
Jurisdiction
Hawaii