§412:2-100 - Commissioner of financial institutions; division of financial institutions. - Hawaii Statutes

ARTICLE 2.  DIVISION OF FINANCIAL INSTITUTIONS

 

PART I.  ADMINISTRATION

 

     §412:2-100  Commissioner of financial institutions; division of financial institutions.  (a)  The director of commerce and  consumer affairs, with the approval of the governor, shall  appoint the commissioner of financial institutions.  The  commissioner shall be in charge of the division of financial  institutions within the department of commerce and consumer  affairs.  The commissioner shall be the primary regulator of Hawaii financial institutions, and shall have the authority  expressly conferred by or reasonably implied from the provisions of this chapter.  The commissioner may be removed by the director of commerce and consumer affairs with the approval of the  governor; provided that while there is any vacancy in the office of the commissioner, the director of commerce and consumer affairs shall serve as ex officio commissioner.  The commissioner shall not be subject to chapter 76.

     (b)  The salary of the commissioner shall be set by the  director of commerce and consumer affairs but shall not be more than the maximum salary of first deputy to the director of commerce and consumer affairs.

     (c)  It shall be the primary purpose of the division of financial institutions to ensure the safety and soundness of Hawaii financial institutions and to maintain public confidence in such institutions through the process of chartering and licensing, regulatory approval, examinations and supervision. [L 1993, c 350, pt of §1; am L 2000, c 253, §150; am L 2005, c 226, §13]