§412:2-600 - Applicability of part. - Hawaii Statutes

PART VI.  PENALTIES, ADMINISTRATIVE FINES AND PROHIBITED ACTS

 

     §412:2-600  Applicability of part.  (a)  The provisions of this part shall apply to all Hawaii financial institutions and to such other persons as shall, by violating any of the provisions of this part, be subject to the penalties and administrative fines provided in this part.  The provisions of this part shall be in addition to the prohibitions set forth elsewhere in this chapter.

     (b)  If a contract is made or any other act is done or omitted in good faith reliance on an interpretation of this chapter made by the supreme court of this State or in a rule duly adopted by the commissioner pursuant to chapter 91, no penalty imposed by this chapter shall apply, notwithstanding that after such contract is made, such interpretation or rule is amended, rescinded, or determined by judicial or other authority to be invalid for any reason. [L 1993, c 350, pt of §1]