Hawaii Administrative Rules
Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS
Chapter 26 - EXAMINATION AND OFF-SITE MONITORING OF HAWAII FINANCIAL INSTITUTIONS
Subchapter 1 - GENERAL PROVISIONS
Section 16-26-5 - Purpose of visitation
Universal Citation: HI Admin Rules 16-26-5
Current through August, 2024
(a) The purpose of a visitation may include one or more of the following:
(1) Determination of an institution's
progress in complying with requirements of a formal corrective order or
memorandum of understanding;
(2)
Determination of the reasons for an apparent adverse situation revealed by
off-site review;
(3) Determination
of an institution's progress in improving the quality of its assets or
correcting other deficiencies, since the last examination or visitation;
or
(4) Determination of the
condition of an institution that is newly chartered, recently converted from a
federal charter, or has recently undergone a change in management or
control.
(b) When circumstances warrant, a visitation may be expanded into an examination. A visitation by federal regulators may be accepted in lieu of a visitation by the division, as deemed appropriate by the commissioner.
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